Debt ceiling deal in progress 


Biden, McCarthy negotiate debt ceiling raise; June 1 deadline looms; Partisan division persists.  

Helium Summary: President Biden and House Speaker Kevin McCarthy have been discussing a potential deal to raise the debt ceiling before the June 1 deadline when the Treasury Department warns the U.S. could begin defaulting on its debts [NY Daily News].

The two parties remain divided but negotiations continue, with Biden cutting short his upcoming overseas trip to focus on the issue [NY Daily News].

May 26, 2023


Republican View

The bill passed in the House raises the debt ceiling and includes spending cuts [CNN].

Democratic View

Democrats oppose the bill, as they don't agree with the spending cuts and other additional measures included [CNN].

Biden's View

He supports raising the debt ceiling, but wants a clean proposal without conditions [CNN].


When is the deadline for raising the debt ceiling?

June 1, according to the Treasury Department [NY Daily News].

Why do the Democrats oppose the bill passed in the House?

They disagree with spending cuts and other additional measures included in the bill [CNN].

News Media Bias (?)

The sources focus on the facts of the ongoing negotiations and the looming deadline [NY Daily News, CNN].

While some mention House Democrats' opposition to the GOP-led bill, others highlight McCarthy's challenges with the far-right [CGTN].


While defaulting on debt is undesirable, recent negotiations have opened the door for productive discussions. Still, the outcome is uncertain due to the partisan nature of the debate.


The outcome of debt ceiling negotiations between Biden and McCarthy remains uncertain, but it's crucial that a compromise is reached to avoid a potential default by the U.S.

Potential Outcomes

1) 50% chance: Compromise is reached before the deadline, avoiding a default.

2) 30% chance: Stalemate persists, leading to an unprecedented default.

3) 20% chance: Temporary extension is granted to buy more time for negotiations.

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