"The debt cap was paused for two years in August 2019, as part of a budget deal in Congress. Democrats, with a slim majority in both chambers, have yet to outline a plan to either increase the limit or suspend it again. Without action, the U.S. is on a path to default as early as October.
House Budget Committee Chairman John Yarmuth and Senator Dick Durbin, the No. 2 Democratic leader in the upper chamber, said there’s no concrete plan to approach the debt ceiling through budget reconciliation. That would bypass Republicans, but leave President Joe Biden’s party with sole ownership of a potentially unpopular move.”
The U.S. debt ceiling officially became operative again on Sunday after a two-year suspension https://t.co/KBALxJr2Gf
— Bloomberg Economics (@economics) August 1, 2021
4 comments:
Impasse - when politicians can't pass gas.
Highest probability of US default this time… not saying it will happen but IMO highest probability so far…
I hope the US defaults. Gotta shake things up...
Yep..
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