May 23, 2023: Four debt limit scenarios

With only days until the earliest possible default on June 1, we’re going to address the question lawmakers aren’t ready to face: What happens if Biden and McCarthy can’t make a deal? Playbook spent several hours yesterday afternoon and evening working the phones. Rachael Bade breaks down four possible scenarios, ranked most to least likely. Playbook co-author Rachael Bade breaks down her reporting.