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https://www.wsj.com/articles/when-is-debt-ceiling-deadline-default-ad17ce1f

When Is the Debt Ceiling Deadline and What Happens if the Limit Isn’t Raised?

Failure to reach a deal on government spending and federal debt could lead to U.S. default

By Andrew Duehren

and Amara Omeokwe

Updated May 22, 2023 9:12 am ET

As Democrats and Republicans debate raising the debt ceiling, they both agree that a default would be disastrous for the economy. But how? WSJ explains why U.S. debt has become the center of the economy. Photo Illustration: Madeline Marshall

The federal government could run out of money to pay its bills soon, putting Congress on the clock to again raise or suspend the federal borrowing limit.

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