Debt ceiling showdown looms over Capitol Hill this morning as the country is on the brink of hitting its credit limit.

We'll break down the significant consequences if lawmakers fail to raise it.

Meanwhile, a bill to eliminate the IRS will soon come to the House floor.

It's a result of the many deals that Kevin McCarthy made in order to become Speaker. And also ahead,

former President Trump offers

up a new reason for why he had

hundreds of classified documents

stashed at his Palm Beach Country Club.

Ready for it? They were

cool keepsakes. We'll try.

We'll try to explain that

just ahead.

Music keepsinks. We'll try, we'll try to explain that just ahead. Good morning and welcome to wait too early on this Thursday, January 19th. I'm Jonathan Lemire. Thanks for starting your day with us. We'll begin with

this headline. The United States is expected to reach its debt ceiling today, which means the

country's borrowing limit will be officially maxed out. This will force the Treasury Department to take

extraordinary measures to keep the nation's payments going through early June and to prevent

the United States from defaulting. As of this morning, there is little progress on Capitol Hill

to resolve the problem. The White House, Senate Democrats, and congressional Republicans are all

refusing to budge on their stances. The White House is warning that there should be no negotiating

at all. When you think about the debt limit, it is, you know, we've been very clear.

The debt limit has been something that has happened three times.

If you look at just the last administration in a bipartisan way, it is something that should be

...