The U.S. could default on its debt as early as June 1st.

That's where we're starting the 7th from the Washington Post.

I'm Jeff Pierre.

It's Tuesday, May 2nd. Let's get you caught up with today's 7 stories.

The Treasury Department said yesterday the U.S. government could run out of money to pay its bills next month.

This crisis has been looming for a while.

Congress controls the debt limit, which is the amount of money the U.S. government is allowed to borrow.

This new estimated timeline means that Congress must act quickly to either raise or suspend the debt limit.

If it doesn't, and the U.S. defaults it'll trigger an

economic catastrophe. But the issue has become a political football. House

Republicans adopted a bill last week that raises the debt ceiling but also cut spending which

Democrats won't accept.

President Biden invited congressional leaders to discuss the issue next week at the White House. Number two, the man accused of killing his neighbors in Texas is still on the loose.

The 38-year-old fatally shot five people, including a 9 year old boy on

Friday after the family asked him to stop shooting near their yard. The search has

been hampered by missteps. Authorities initially released a photo of the wrong man

and spelled the suspect's last name incorrectly. It's now going into its fourth day.

The suspect's immigration status has also become a part of the conversation.

According to immigration officials, he has a criminal record and has been deported

multiple times.

Number three.

This is bananas.

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