The government's main budget experts confirmed that the US could risk economic catastrophe as soon as early June
progress is being made in those negotiations. The top lawmakers were expected to meet with Biden again on Friday to discuss the debt ceiling, but the meeting was reportedly postponed to give staffers more time to chat on potential areas of compromise. For example, as Politico
, there could be agreement on rescinding unspent pandemic funds and reforming energy permitting in an eventual deal.that prolonged default could trigger a recession on par with the Great Recession — but the government wouldn't have the money to step in and cushion the crisis.
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