FILE - Speaker of the House Kevin McCarthy, R-Calif., criticizes President Joe Biden's policies and efforts on the debt limit negotiations as he holds a news conference at the Capitol in Washington, Wednesday, May 17, 2023. J. Scott Applewhite/AP hide caption
A man enters the New York Stock Exchange on Wall Street in New York City on Friday. Angela Weiss/AFP via Getty Images hide caption
Treasury Secretary Janet Yellen leaves a meeting on April 21. She warns that economic chaos will ensue if Congress doesn't raise the debt ceiling in the coming weeks. Alex Wong/Getty Images hide caption
President Joe Biden and Speaker of the House Kevin McCarthy walk outside the U.S. Capitol at a Saint Patrick's Day event in March. The two haven't discussed the debt ceiling since February. Chip Somodevilla/Getty Images hide caption
The U.S. Capitol is seen during an event celebrating 100 days of House Republican rule last week in Washington, D.C. Anna Moneymaker/Getty Images hide caption
The U.S. Capitol Building is seen on Jan. 19, 2023. Anna Moneymaker/Getty Images hide caption
The Treasury Department data comes as tax revenue has fallen and federal spending continues to rise. Mandel Ngan/AFP/Getty Images hide caption
August 2011: President Obama (right) and House Speaker John Boehner at the White House as they and other lawmakers worked to head off a government shutdown that loomed. Jewel Samad/AFP/Getty Images hide caption
Within minutes after being turned on Monday, the GOP's clock measuring how much the national debt had grown was moving up quickly. Becky Lettenberger/NPR hide caption
Treasury Secretary Tim Geithner testifies before the House Budget Committee, March 2009. J. Scott Applewhite/AP Photo hide caption
President Obama meets with members of the fiscal responsibility commission, April 27, 2010. J. Scott Applewhite/AP Photo hide caption