4 ways around a debt ceiling crisis — and why they might not work

Treasury Secretary Janet Yellen listens to President Biden during an October 2021 meeting with Cabinet members and corporate chief executives to discuss the looming federal debt limit. Two years later, the debt limit is once again an economic threat. (Chip Somodevilla/Getty Images)

One defining feature of 21st century politics is that the nation keeps tip-toeing up to the edge of potential — and avoidable — economic ruin, in the form of threatening to default on its debt.

And it's happening again: Treasury Secretary Janet Yellen says the U.S. will reach the debt limit on Thursday, but can use what she calls "extraordinary measures" to push off default until this summer.