What’s Happening with the US Debt Ceiling Crisis – Will They Default?

The US treasury anticipates the US will run out of money to service their commitments as early as the first week of June. If you think you’ve heard this before, you’re not wrong. The federal government hit its legal debt limit in January - $31.4 trillion however the House Republicans approved a bill to let the country keep borrowing money, but with strings attached. Fast forward six months later and the US is flirting with officially defaulting for the first time in its history.