Democrats Are Making a High-Stakes Bet on the Debt Ceiling ...Middle East

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Democrats Are Making a High-Stakes Bet on the Debt Ceiling
source : The New Republic ( Middle East ) () 28
In a less polarized era, Treasury Secretary Janet Yellen’s dire warning that the United States could default on its debts as early as June 1, absent congressional action, might have served as a kick in the pants for lawmakers and the White House to get down to the business of raising the debt ceiling. Instead, Yellen’s announcement on Monday seemed only to entrench the opposing positions of President Joe Biden and congressional Republicans: Biden and Democrats insist that the debt ceiling must be raised without strings attached, while Republicans maintain that any measure to lift the nation’s borrowing cap be accompanied by spending cuts outlined in a measure recently passed in the House.Bid

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