5 recent times Congress voted to suspend or raise the debt ceiling

The U.S. government is in danger of defaulting on the national debt, an event that could have catastrophic outcomes for the economy.

Treasury Secretary Janet Yellen warned in September that the country will reach its borrowing limit by mid-October.

On Wednesday, Senate Majority Leader Mitch McConnell, R-Ky., offered a short term extension to the debt limit after saying earlier this week that Democrats should raise the debt ceiling on their own.