The fight over the debt ceiling has the potential to tank the U.S. economy—here’s what it means – CNBC

Politicians in Congress are currently in a staredown over the debt ceiling. Lawmakers must reach an agreement soon to allow the government to meet its payment obligations for Social Security, tax credits and military salaries, among other items. Treasury Secretary Janet Yellen warned that the Treasury will likely run out of ways to pay its…

Debt ceiling poses major test for White House because of GOP refusal to assist – The Washington Post

Meanwhile, the White House has ruled out offering policy concessions to Republican lawmakers to lure GOP votes, according to three senior administration officials familiar with the matter. McConnell has not communicated any requests to the administration of what he wants in exchange for support for the suspension, the people said. Even if McConnell does outline…