CBO Warns US Treasury May Default as Soon as July

The video discusses the CEO's economic forecast and the Treasury's options to avoid a fiscal cliff. It highlights the urgency of the debt limit deadline, which is expected between July and September, and the need for Congress to act before their August recess. Kevin McCarthy and President Biden have started discussions, with entitlements removed from the table, focusing on limiting agency budgets to address the deficit. More meetings are planned to strike a deal.

What were the outcomes of the discussions between Kevin McCarthy and President Biden?

How do the projected increases in the deficit relate to Social Security and Medicare?