The government debt ceiling deadline is the date by which the U.S. Treasury must borrow money to meet its financial obligations, such as paying its bills and making interest payments on its debt. If the debt ceiling is not raised by this deadline, the government will default on its debts, which would have serious consequences for the U.S. economy and the global financial system.
Raising the debt ceiling is a controversial issue, as some argue that it allows the government to spend too much money and increase its debt burden. Others argue that failing to raise the debt ceiling would have catastrophic consequences, and that it should be raised without conditions.