Can a deal be reached to avert a historic US default?

Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • President Joe Biden and House Speaker Kevin McCarthy will soon offer the clearest sign yet about whether a deal can be reached to avert a historic US default.
  • McCarthy has sought a deal tied to budget cuts as a condition of increasing the debt limit, which would avert an unprecedented US default that could come in as few as 17 days.
  • A default would sink markets, leave potentially millions out of work and hike borrowing costs for families and the US government alike.
  • McCarthy on Monday said the two parties would have to have a deal by this weekend to push it through Congress in time to avoid default.

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