Biden declares ‘America will not default,’ says he’s confident of budget deal with GOP lawmakers
Associated PressMay 17, 2023
While this laborious process is far from over, real progress is being made in negotiations to raise the debt ceiling. The US defaulting on its debts isn't an option, and both political parties are working hard to ensure that doesn't happen.
While lawmakers may be hopeful about negotiations, this process has taken far too long. Nobody should use the threat of defaulting as leverage; both Democrats and Republicans have failed the electorate by putting partisan politics ahead of the national interest.
There's a 3% chance that the US will default on its sovereign debt before July 1, 2023, according to the Metaculus prediction community.