Fears of a US debt default are mounting as the deadline to lift the borrowing limit looms. Here's what Elon Musk, Paul Krugman and Jamie Dimon have warned.

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Congressional leaders meet on debt ceiling
US President Joe Biden meets with US Speaker of the House Kevin McCarthy, House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell in the Oval Office of the White House in Washington, DC, on May 9, 2023. Biden and Republican leaders met in hopes of breaking an impasse over the US debt limit.

The government's main budget experts confirmed that the US could risk economic catastrophe as soon as early June

Tech Insider : Economy, Politics
President Joe Biden.
President Joe Biden.

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The debt ceiling crisis is 'pathetic' as government revenue is near a record high, top economist David Rosenberg says

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David Rosenberg.

Screenshot via Bloomberg TV

Elon Musk warns there's a growing risk of a US default as the deadline to raise the debt ceiling looms

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Elon Musk has brought Twitter to break even through an aggressive approach to management.
Elon Musk.

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Biden finally met with top lawmakers to discuss a debt ceiling solution — but McCarthy says there wasn't 'any new movement' as a catastrophic default inches closer

Tech Insider : Economy, Politics
Congressional leaders meet on debt ceiling
US President Joe Biden meets with US Speaker of the House Kevin McCarthy, House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell in the Oval Office of the White House in Washington, DC, on May 9, 2023. Biden and Republican leaders met in hopes of breaking an impasse over the US debt limit.

This debt-ceiling fight is different — and it means we could actually default this time

Tech Insider : Economy, Politics
Biden McCarthy
President Joe Biden walking past House Speaker Kevin McCarthy at a luncheon in March.

AP Photo/Alex Brandon

Biden calls House Speaker Kevin McCarthy an 'honest man,' but says he 'just about sold away everything' to appease far-right Republican lawmakers

Tech Insider : Politics, Economy
Biden McCarthy
President Joe Biden walks past House Speaker Kevin McCarthy of California after the GOP leader introduced him to speak at a Friends of Ireland Caucus St. Patrick's Day luncheon in Washington, DC, on March 17, 2023.

AP Photo/Alex Brandon

The US is heading toward a catastrophic — and avoidable — default. Here's what the debt ceiling is, and why it's so dangerous.

Tech Insider : Economy, Politics
Kevin McCarthy
House Speaker Kevin McCarthy speaks to reporters outside of his office in the US Capitol Building on March 7, 2023 in Washington, DC.

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The White House warned that a debt ceiling crisis could be just as bad as the Great Recession — and there'd be no way for the government to help anyone out

Tech Insider : Economy, Politics
President Joe Biden.
President Joe Biden.

Kevin Dietsch/Getty Images

A $1 trillion platinum coin could save the US from economic catastrophe in less than a month. It would be fast, legal, and no bigger than a regular coin.

Tech Insider : Economy, Politics
U.S. Secretary of the Treasury Janet Yellen (L) and Second Gentleman Douglas Emhoff inspect a series of dies used in the production of the new American Women Quarters Program which includes the Maya Angelou quarter dollar coin, during a tour of the Denver Mint on March 11, 2022 in Denver, Colorado.
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