There is some hope in D.C. that the White House and House Republicans can reach a deal to raise the debt ceiling by the end of the month. Here are some of the developments so far this week, according to media reports.

  • Treasury Secretary Janet Yellen said that with new information, she is even more certain that June 1 is the date by which the debt limit must be raised before the government starts defaulting on its obligations, which would be a first. The federal government may not even be able to make Social Security payments after that date without an increase.
  • President Biden named two of his most senior aides to take over negotiations with House Speaker Kevin McCarthy (R-Calif.).
  • There’s now talk that any deal would raise the debt limit into 2025 to avoid addressing the issue again before the 2024 elections. House Republicans originally voted for a one-year increase.
  • Military Times reported on what default could mean for defense and military families.

Air Force photo by Airman 1st Class Philip Bryant