WH National Economic Council Chair Expresses Concerns Over Congress' Ability to Prevent Default.

Lael Brainard, director of the White House National Economic Council, said that American business leaders have concerns that Congress may fail to prevent default, which would lead to catastrophic consequences. However, Brainard believes that Congress has the tools to prevent the US from defaulting on its debt and that the ongoing conversations are budgetary in nature. The debt ceiling, which is currently around $31.4 trillion, is the legal limit on the total amount of debt that the federal government can borrow on behalf of the public.