Image: Treasury Secretary Scott Bessent holds a printout of a proposed $250 bill featuring a picture of President Donald Trump during a White House press briefing on May 28. (Tom Williams/CQ Roll Call)

Paul M. Krawzak of Roll Call reports: “A grim new milestone for U.S. debt and surging interest rates haven’t sparked much urgency for a new round of deficit cutting on Capitol Hill. Yet.

But with federal debt topping $40 trillion for the first time last month, lawmakers will likely have to lift the $41.1 trillion statutory debt ceiling within the next year or so. That task usually involves a debate over curbing deficits, even if the default in recent years has been to do little to nothing…”

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