“The debt trajectory is unsustainable”

Plus, China claims victory over the Covid-19 pandemic. The US could default on its debt by July; Beijing says it has beaten the Covid-19 pandemic. Tonight's Sentences was written by Jariel Arvin.   TOP NEWS Lawmakers have until summer to fix the debt ceiling Alex Wong/Getty Images - The nonpartisan Congressional Budget Office on Wednesday warned the US could default on its loans between July and September unless lawmakers raise or suspend the federal debt ceiling. [[Washington Post / Tony Romm](] - If the US defaults on its loans, it would wreak economic havoc for most Americans, and global markets. [[USA Today / Candy Woodall](] - The CBO [also cautioned]( the Treasury Department could fail to pay the government’s bills even sooner if the IRS misses April tax revenues. [[Associated Press / Fatima Hussein, Josh Boak, and Kevin Freking](] - Republicans want Democrats to agree to cut spending in exchange for raising the $31.4 trillion limit; however, President Joe Biden wants the GOP to lift the debt ceiling without conditions. Formal negotiations have yet to begin. [[CNBC / Christina Wilkie](] - The office also forecast US budget deficits to average $2 trillion per year over the next decade, largely fueled by high interest rates and government spending. [[Reuters / David Lawder and Richard Cowan](]  [Learn more about RevenueStripe...]( China declares Covid victory - Chinese officials claimed a “decisive” victory over the Covid-19 pandemic after 800,000 critically ill patients and 200 million others recovered from the virus. [[Associated Press](] - In 2022, Chinese provinces spent more than $50 billion to contain and treat the coronavirus before Beijing abandoned its “zero-Covid” policy in January 2023. [[Reuters](] - Though China claims an official Covid-19 death toll of just over 80,000, health experts estimate up to 1.5 million people died from the virus in the past two months. [[New York Times / James Glanz, Mara Hvistendahl, and Agnes Chang](] - Meanwhile, a group of elderly retirees in Wuhan protested cuts to health care benefits the government enacted during the pandemic. [[BBC / Stephen McDonell](]   Support our work Reader gifts help keep Vox and newsletters like Sentences free for all. Support our work with a gift today. [Give](   MISCELLANEOUS The special grand jury weighing 2020 election interference in Georgia recommended perjury charges for unnamed witnesses. [[Vox / Ian Millhiser](] - A suspect is in police custody after one person was killed and three others injured in a shooting at an El Paso, Texas, shopping mall Thursday. [[CNN / Elizabeth Wolfe](] - The world’s largest natural ice skating rink remains closed this winter amid unusually warm temperatures in Ottawa, Canada. [[Washington Post / Kelsey Ables](] - YouTube CEO Susan Wojcicki is stepping down from her post after nine years of running the video platform. [[Vox / Peter Kafka](] VERBATIM "The debt trajectory is unsustainable. ... at some point, something has to give — whether it’s on spending or revenue." [[CBO director Phillip Swagel on the report’s release / AP](]   LISTEN TO THIS The Ukraine war: past, present, and future Since Russia's invasion, thousands have died, millions have been displaced, and the world has felt the ripple effects of the war. After a year of fighting, is anyone winning? What’s next for Ukraine, Russia, and the nations’ respective allies? Jonquilyn Hill sits down with Vox’s Jen Kirby and Jonathan Guyer to find out. [Listen now ▶](   Read more from Vox [This Penn professor has been offending minorities for years. Will tenure save her?]( [How Biden could surpass Trump’s record on judges]( [The Supreme Court hears two cases that could ruin the internet]( [The radical proposal to let Medicare and Social Security lapse, explained]( [How crypto failed Black investors](  [Learn more about RevenueStripe...](   [Facebook]( [Twitter]( [YouTube]( This email was sent to {EMAIL}. Manage your [email preferences]( or [unsubscribe](param=sentences). If you value Vox’s unique explanatory journalism, support our work with a one-time or recurring [contribution](. View our [Privacy Notice]( and our [Terms of Service](. Vox Media, 1201 Connecticut Ave. NW, Floor 12, Washington, DC 20036. Copyright © 2023. All rights reserved.