Phil, Mike, and Larry discuss the debt ceiling debate after President Biden and top lawmakers postponed Friday’s meeting. However, there are just four days when both the House and Senate are scheduled to be in session before June 1, which is the date when the US could default on its obligations. Treasury Secretary Janet Yellen said that the failure to raise the debt ceiling before the U.S. runs out of available cash and emergency measures would cause an “economic catastrophe.” They then address comments from Stanley Druckenmiller who said, the economy is teetering on the edge of a recession and he forecast a “hard landing.” He predicted the downturn will occur during the current quarter.

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