The debt ceiling fight gripping Washington this month bears echoes of a similar clash in 2011, when a Democratic president squared off against a Republican House in a fight that dragged on for months, pushed the country to the brink of default and led to the first credit downgrade in U.S. history. Except this time might be worse. As President Biden and Speaker Kevin McCarthy (R-Calif.) scramble to find common ground on legislation to hike the government’s borrowing cap, they’re operating in a much tougher environment than that faced by the top negotiators a dozen years ago, according to lawmakers, economists and political observers of all stripes. The country is more polarized,
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