Debt ceiling deadline looms, Congress urged to act.

Lawmakers return to Washington facing a fast-approaching deadline to address the debt limit or risk an unprecedented default. The US reached its $31.4 trillion borrowing limit back in January and is now relying on "extraordinary measures" to keep the government fully funded. The "X-date" when those measures will run out is a moving target, but experts predict it could happen as early as this summer. House Republicans have demanded spending cuts in exchange for lifting the debt ceiling, while Democrats are calling for a "clean" raise without conditions. If no resolution is reached before the "X-date," the US could default for the first time in history, which would have catastrophic economic consequences.