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U.S. Treasury Secretary Janet Yellen listens to President Biden discuss the federal debt limit on Oct. 6, 2021, in Washington, D.C. Chip Somodevilla/Getty Images hide caption

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Two Indicators: Congressional game theory and the debt ceiling

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Second Liberty Loan of 1917 Poster (Photo by Swim Ink 2, LLC/CORBIS/Corbis via Getty Images) Swim Ink 2, LLC/Corbis via Getty Images hide caption

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Swim Ink 2, LLC/Corbis via Getty Images

Simon says we're stuck with the debt ceiling

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Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell appear before the Senate Banking, Housing and Urban Affairs Committee on Tuesday. Kevin Dietsch/AP hide caption

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Kevin Dietsch/AP

Janet Yellen Says U.S. Could Run Out Of Cash To Pay Its Bills In Less Than 3 Weeks

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House Speaker Nancy Pelosi, D-Calif., at the U.S. Capitol on Wednesday. The House of Representatives passed a bill to keep the government funded and suspend the debt ceiling, but Republicans are expected to block it in the Senate. J. Scott Applewhite/AP hide caption

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J. Scott Applewhite/AP

President Trump meets with congressional leaders in the Oval Office at the White House on Sept. 6. The deadline to fund the government and raise the debt ceiling is coming up on Dec. 8. Alex Wong/Getty Images hide caption

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President Trump meets with Senate Majority Leader Mitch McConnell, R-Ky., Senate Minority Leader Chuck Schumer, D-N.Y., House Minority Leader Nancy Pelosi, D-Calif., and other congressional leaders in the Oval Office. According to The Washington Post, Trump and Schumer have agreed to work on a plan to eliminate the debt ceiling. Evan Vucci/AP hide caption

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Evan Vucci/AP

White House Budget Director Mick Mulvaney leaves a Republican strategy session in which he and Treasury Secretary Steven Mnuchin were blasted by lawmakers over President Trump's deal with Democrats. J. Scott Applewhite/AP hide caption

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J. Scott Applewhite/AP

President Trump meets with Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan during a budget discussion in March. Chip Somodevilla/Getty Images hide caption

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Chip Somodevilla/Getty Images

Preparations underway in the Media Center at the third Republican debate on the campus of the University of Colorado in Boulder, Colo. Robyn Beck/AFP/Getty Images hide caption

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Robyn Beck/AFP/Getty Images

Unless Congress raises the debt limit by Nov. 3, the U.S. Treasury may be left with only incoming taxes and fees to cover expenses, which would not be enough to pay all bills. Mandel Ngan/AFP/Getty Images hide caption

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Mandel Ngan/AFP/Getty Images

A woman looks on at the U.S. Capitol in 2013 after the most recent government shutdown. Congress has made no progress toward avoiding a government shutdown when it will run out of funding Sept. 30. Jacquelyn Martin/AP hide caption

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Jacquelyn Martin/AP