The federal government will run out of existing funds to pay the nation’s bills sometime this summer unless Congress acts to raise the debt ceiling.
Or will it?
“There are actually quite a few ideas. What they’re doing is getting around the debt limit in a way that technically isn’t raising debt, but economically is the same thing,” Louise Sheiner, policy director at The Hutchins Center on Fiscal and Monetary Policy, told The Epoch Times.
However, Sheiner, like others we spoke with, thinks these work-around solutions have serious drawbacks and could do more harm than good.
U.S. President Joe Biden shakes hands with House Speaker Kevin McCarthy (R-Calif.) in the House Chamber of the U.S. Capitol in Washington on Feb. 7, 2023. (Jacquelyn Martin-Pool/Getty Images)
House Speaker Kevin McCarthy (R-Calif.) and President Joe Biden are in negotiations over raising the debt ceiling….