5 things people get wrong about the debt ceiling saga

House Speaker Kevin McCarthy speaks to members of the media at the U.S. Capitol in Washington, D.C., on May 24, 2023. The U.S. government will soon run out of cash to pay its bills unless it can raise or suspend its debt ceiling. (Kevin Dietsch/Getty Images)

The U.S. is running short of both time and money to pay its bills.

At some point in the next several weeks, the U.S. is likely to run out of money to pay its bills, risking the prospect of a devastating default.