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President deemed the talks ‘productive’ while McCarthy stressed lack of progress as $31.4tn default looms as soon as 1 June
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Graham Watson
May 10, 2023 2:26 AM
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The US debt ceiling - more about political posturing than 'real' Economics, but worth watching this space. If agreement can't be reached by 1 June, the US government will stop paying federal employees and making social security payments, and this has much wider implications for US macroeconomic objectives and the global economy.