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https://www.wsj.com/articles/a-less-bad-option-for-the-debt-ceiling-crisis-shutdown-appropriations-politics-policy-white-house-de4c6df6

A Less-Bad Option for the Debt-Ceiling Crisis

If a deal can’t be reached, a partial government shutdown is far better than a default on obligations.

By Alan S. Blinder
Wonder Land: During the Obama years, Republicans were nicknamed 'the party of No.' Today the roles have reversed, with Democrats refusing to negotiate, preferring to smear the 'MAGA Republican' opposition as 'extreme.' Images: Zuma Press/AFP via Getty Images Composite: Mark Kelly

The federal government may run out of money as early as June 1. Without more borrowing, there is a risk that the U.S. will begin defaulting on its financial obligations. Negotiations between Speaker Kevin McCarthy and the White House about raising the national debt ceiling are under way. With luck, they will bear fruit, and America won’t end up in a financial crisis.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.