Friedberg @ 00:32:42Right
politicseconomy
The 2023 U.S. debt ceiling negotiations—reported at the time as being roughly $72 billion apart—will be resolved with a bipartisan agreement before an actual default occurs.
Reuters had a report this morning that there are only 72 billion apart now in their positions, which is a relatively small amount. So my guess is they're going to they're going to work this out.View on YouTube
Explanation
The prediction was that the 2023 U.S. debt ceiling negotiations—reported as being about $72 billion apart—would be resolved with a bipartisan agreement before an actual default.
What happened:
- On June 3, 2023, President Biden signed the Fiscal Responsibility Act of 2023 into law after it passed both the House and Senate with bipartisan support, suspending the debt ceiling until January 1, 2025.
- The Treasury Department had warned of a potential default around June 5, 2023 if the limit were not raised/suspended, but no default occurred; U.S. obligations continued to be paid on time.
Thus, the 2023 debt ceiling standoff was indeed resolved with a bipartisan agreement before any actual default, matching Friedberg’s forecast.
So the prediction is right.