14th Amendment Default Risk Spending Cuts Negotiations Treasury Secretary Deadline Borrowing Limit Treasury Department Revenue Monitoring Political Strategy Consequences of Not Raising X-Date Consequences of Breaching X-Date Credit Rating Downgrade Economic Costs of Breaching X-Date History of Raising or Suspending Debt Ceiling Borrowing Needs Biden-McCarthy Agreement Debt Ceiling Deal Agreement Risk of Default Budget Deal United States Default Debt Ceiling Package Consequences of Default Federal Debt Limit Bipartisan Negotiations Debt Limit Increase Bill Debt Limit Suspension Economic Impact Tax Policy Fiscal Policy US Treasury Department Default Republican Proposal Federal Budget National Debt Federal Government Emergency Measures Urgency Short-Term Borrowing Costs U.S. Treasury Debt Ceiling Negotiations Federal Borrowing US Treasury Debt Ceiling Repeal Trust Borrowing Cap