The pressure is on for the US Government to potentially raise the debt ceiling.

Because recent tax receipts have been lower than expected, the US Government runs the risk of being unable to meet their financial obligations and defaulting.

Treasury Secretary Janet Yellen has warned that without more borrowing, the US will not have enough money to meet these obligations by June 1.

Milford Asset Management's Deborah Lambie says debt ceiling increases have become a 'political football' in recent years, thus, it won't be an easy fix.

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