May 22, 2023: The debt limit's parade of horribles

We are just days away from a potential federal default, and Washington this week is going to be consumed with the latest twists and turns on whether Congress will act to raise the debt limit in time to prevent a whole parade of horribles – from a tanking stock market to skyrocketing borrowing costs to mass unemployment. Over the weekend bipartisan negotiations went from on again to off again to on again, and today’s main event is a White House meeting between President Joe Biden and House Speaker Kevin McCarthy. Playbook editor Mike DeBonis and author Rachael Bade break it down, along with the rest of the news you need to know today.