Washington’s political gridlock on the national debt ceiling benefits Beijing, fearmongers warn If some headlines are to be believed, the United States is on the verge of default. Well, technically. With US national debt ever rising, the congressional debt ceiling is set to be breached by the end of this month. Although normally Congress simply votes to raise it even higher, spinning the money printing machine ever onwards, this time the Republican-controlled House of Representatives has opted for a political showdown and to make life for the Biden administration difficult. The casualties of this emerging standoff
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