America's indebtedness is capped by law. Since December 2021, this ceiling has been set at $31.400 trillion.
As the U.S. borrows more and more in the markets, it could reach this threshold in early June. If negotiations between the White House and Republican congressional leaders do not lead to an increase in the debt ceiling by then, other desperate solutions are possible. Joe Biden, before flying Tuesday night for the G7 meetings in Japan, was to meet again with the leaders.