The US reached its debt ceiling, or debt limit, in January. The nation could run out of money to pay all of its bills as soon as June 1, the so-called “X-date.” The government would not be able to pay everyone on time. It would likely prioritize payments to investors holding US Treasuries, to avoid a “technical default.” Payments like Social Security, Medicare, tax refunds, military paychecks, and others would likely be delayed. Democrats and Republicans have not yet reached an agreement to raise or suspend the debt ceiling and…
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