Unless something drastically changes, my guesstimate prediction is that Congress will not increase the debt ceiling and will, for the first time in history, default on it's financial obligations. Most likely the credit agencies will then downgrade USA's credit rating, thus triggering a rising spiral of interest rate increases and inflation. It will also push sooner the replacement of the dollar as the international bedrock currency-which will pump up federal borrowing rates even more.
If anyone is considering borrowing money do it now and go fixed rate for sure. These guys want to burn down the house and McCarthy is enabling them.
It's truly sad, especially in light of the fact there is no real policy debate-unless the years before the Civil War.
OTOH I'm sure Musk is delighted someone else is stealing the shitshow spotlight.