EXPAND - The US debt ceiling debate is a significant political issue, with the government expected to reach its current $31.4 trillion debt limit by June 2023. The House of Representatives demands spending cuts and policy concessions from the Biden administration in exchange for raising the debt ceiling, while the White House insists that the debt ceiling must be raised without preconditions, arguing that even the threat of default could have severe economic consequences. The debt ceiling debate represents a dangerous game of brinkmanship that risks undermining the full faith and credit of the US government. A government default would likely lead to skyrocketing interest rates, a plunge in the dollar value, and severe disruption to financial markets, potentially triggering a recession, reducing American consumers' purchasing power, and hampering businesses and individuals' access to credit