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Deputy Director of the National Economic Council Bharat Ramamurti, pictured at a White House briefing last August, spoke to Morning Edition after the House passed its debt ceiling bill. Alex Wong/Getty Images hide caption

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Alex Wong/Getty Images

'This is a compromise': How the White House is defending the debt ceiling bill

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Former President Eisenhower, addresses the nation on the American intervention in Formosa (now Taiwan) in an undated archival picture. Eisenhower was involved in the country's first debt ceiling fight when he asked Congress to raise the limit by $15 billion. The Senate refused, ushering the first tussle over the country's debt. Keystone/Getty Images hide caption

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Keystone/Getty Images

The first debt ceiling fight was in 1953. It looked almost exactly like the one today

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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 House is set to vote on a debt deal on Wednesday. Kevin Dietsch/Getty Images hide caption

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Kevin Dietsch/Getty Images

YUMA, ARIZONA - MAY 25: An aerial view of the long-depleted Colorado River, currently swollen by winter snowmelt water, along the border between California (L) and Arizona near Yuma, Arizona. Mario Tama/Getty Images hide caption

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Mario Tama/Getty Images

Receding rivers, party poopers, and debt ceiling watchers

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Treasury Secretary Janet Yellen listens during an open session of the Financial Stability Oversight Council meeting at the Department of the Treasury in Washington, D.C., on April 21, 2023. Yellen said on Friday Congress would need to raise the debt ceiling by June 5 or the country could run out of cash to pay its bills. Alex Wong/Getty Images hide caption

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Alex Wong/Getty Images

Preschool teacher Jaqueline Benitez depends on California's Supplemental Nutrition Assistance Program (SNAP) to help pay for food. If the debt ceiling isn't raised, SNAP and other federal payments would be delayed. (AP Photo/Allison Dinner) Allison Dinner/AP hide caption

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Allison Dinner/AP

3 ways to protect your money if the U.S. defaults on its debt

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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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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

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J. Scott Applewhite/AP

Cole Lyle (left), a Marine Corps veteran and executive director of the veterans advocacy group Mission Roll Call, says a U.S. default would have devastating consequences for former military members who stand to see their benefits suspended. Courtesy of Cole Lyle hide caption

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Courtesy of Cole Lyle

These are some of the people who'll be impacted if the U.S. defaults on its debts

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Australian envoy suggests 'smelling salts' for worries over Biden's Quad cancellation

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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

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Angela Weiss/AFP via Getty Images

What the debt ceiling standoff could mean for your retirement plans

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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

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Alex Wong/Getty Images

Yellen warns of 'calamity' unless Congress raises the debt limit. What's the holdup?

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Then-President Barack Obama speaks alongside then-Treasury Secretary Jacob Lew in June 2016. Saul Loeb/AFP via Getty Images hide caption

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Saul Loeb/AFP via Getty Images

Jack Lew had a front-row seat to debt ceiling fights under Obama. Here's his advice

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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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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

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Chip Somodevilla/Getty Images

Republicans hope McCarthy's bill gives him leverage in debt ceiling standoff

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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

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Anna Moneymaker/Getty Images

House Republicans hope their debt limit bill will get Biden to the negotiating table

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What's the deal with the platinum coin?

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WASHINGTON, DC - JANUARY 25: Sen. Rick Scott (R-FL) listens during a news conference at the U.S. Capitol Building on January 25, 2023 in Washington, DC. Senate Republicans held the news conference to discuss the ongoing negotiations between the House, Senate and White House over the national debt ceiling. (Photo by Anna Moneymaker/Getty Images) Anna Moneymaker/Getty Images hide caption

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Anna Moneymaker/Getty Images

Want a balanced federal budget? It'll cost you.

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Anna Moneymaker/Getty Images

Simon says we're stuck with the debt ceiling (Encore)

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