The U.S. government’s annual spending exceeding its revenue leads to accumulating debt, which is regulated by Congress through the debt limit. Once this limit is reached, Congress must decide whether to raise, suspend, or eliminate it to ensure continued government operations. Failure to address this issue in time can have significant global economic consequences. Shai Akabas, an expert from the Bipartisan Policy Center, is known for calculating the X-Date, the critical point when the U.S. would be unable to meet its financial obligations. This episode delves into Akabas and Jay Powell’s efforts, predating his role as Federal Reserve Chair, to establish a system for predicting the X-Date and avoiding financial crises. An impending X-Date this summer adds urgency to the discussion. Originally produced by Sam Yellowhorse Kesler, this update was crafted by James Sneed and features insightful contributions from various team members. For more engaging content, follow Planet Money on social media and access their podcasts on popular platforms. To support Planet Money and access bonus episodes, subscribe to Planet Money+ on Apple Podcasts or at plus.npr.org/planetmoney. Musical accompaniment for the episode includes tracks like “Euphoria Funk,” “Darkman X,” and “Invincible.”