"Four Possible Outcomes of the Debt-Ceiling Crisis"

The US government could run out of funds to pay its bills as soon as June 1st, and although Democrats and Republicans remain far apart on the issue, a potential agreement to raise the debt ceiling and cut spending is starting to take shape. The most likely outcome is that a debt-ceiling agreement is reached just prior to the default deadline, with some modest negative economic effects. However, there is a significant degree of uncertainty, and the debt-ceiling stand-off could play out in several scenarios, including Congress kicking the can down the road, the US briefly entering default, or the debt crisis being resolved well ahead of the deadline.