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House Speaker Kevin McCarthy speaks to members of the media at the U.S. Capitol in Washington, D.C., on May 24, 2023. The U.S. government will soon run out of cash to pay its bills unless it can raise or suspend its debt ceiling. Kevin Dietsch/Getty Images hide caption

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Kevin Dietsch/Getty Images

5 things people get wrong about the debt ceiling saga

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Treasury Secretary Janet Yellen, seen here on April 13, warned on Monday that the federal government could default on its debt as early as June 1 unless Congress raises or suspends the debt ceiling. Stefani Reynolds/AFP via Getty Images hide caption

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Stefani Reynolds/AFP via Getty Images

The U.S. could run out of cash to pay its bills by June 1, Yellen warns Congress

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Sheets of one-dollar bills run through the printing press at the Bureau of Engraving and Printing in 2015 in Washington, D.C. Congressional forecasters projected the federal deficit this fiscal year will hit its highest since World War II. Mark Wilson/Getty Images hide caption

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Mark Wilson/Getty Images

Sheets of $1 bills run through the printing press in 2015 at the U.S. Bureau of Engraving and Printing in Washington, D.C. National debt is expected to reach an all-time high of 107% of gross domestic product in 2023. Mark Wilson/Getty Images hide caption

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Mark Wilson/Getty Images

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

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Treasury Secretary Steven Mnuchin speaks about the coronavirus at the White House on March 25. The Treasury said Monday it expects to borrow nearly $3 trillion in the April-June quarter. Alex Brandon/AP hide caption

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Alex Brandon/AP

The economic rescue package just passed by Congress will push this year's budget deficit above $3 trillion. Olivier Douliery/AFP via Getty Images hide caption

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Olivier Douliery/AFP via Getty Images

The U.S. Was Already Deep In Debt. This Year's Deficit Will Be 'Mind-Boggling'

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Stanley Fischer, who is resigning as Federal Reserve vice chair, says releasing transcripts of Fed meetings immediately could inhibit frank discussions among policymakers. Jennifer Kerrigan/NPR hide caption

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Jennifer Kerrigan/NPR

Fed's Departing Vice Chair On Stocks, The Federal Debt And Transparency

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Treasury Secretary Jacob Lew on Monday. Saul Loeb/AFP/Getty Images hide caption

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Saul Loeb/AFP/Getty Images

'Time Is Short' On Debt Ceiling, Treasury Secretary Says

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NPR's Tamara Keith on 'Morning Edition'

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Senators Warner and Chambliss

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They're still talking. President Obama and leaders from Congress will continue deficit-reduction negotiations. July 14, 2011 file photo taken at the White House. From left to right: House Speaker John Boehner (R--OH); Obama; Senate Majority Leader Harry Reid (D-NV); Senate Minority Leader Mitch McConnell (R-KY); Senate Majority Whip Richard Durbin, (D-IL). Mandel Ngan/AFP/Getty Images hide caption

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Mandel Ngan/AFP/Getty Images

House Speaker John Boehner (R-OH) and President Obama at the White House on Sunday. Mandel Ngan/AFP/Getty Images hide caption

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Mandel Ngan/AFP/Getty Images

Ari Shapiro on 'Morning Edition'

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