Introduction: The United States is currently facing a critical debt-ceiling crisis, with a looming deadline of June 1, 2023. The debt ceiling refers to the statutory limit on the amount of debt the U.S. government can issue to fund its operations. The failure to raise the debt ceiling would have explosive consequences, potentially leading to a default on the government’s debt obligations.  This article will explore the ongoing debt-ceiling crisis, the implications of not raising the debt ceiling, and the potential economic impacts it could have. Current Status and Political Stalemate: As of May 22, 2023, leaders on both sides of the debate have yet to reach an agreement on…