The most tiresome issue in American politics is back, thanks to Republicans who regained control of the House of Representatives in the 2022 midterm elections. For the next six months or so, you’ll be hearing about the debt-ceiling standoff that could torpedo the U.S. economy. This isn’t some natural phenomenon or market abnormality we have no choice but to deal with. It’s a manmade construct that once served a purpose but has now become a mechanism for abuse of the majority by a… Source link
Read More »3 things to know about the debt-ceiling farce
The most tiresome issue in American politics is back, thanks to Republicans who regained control of the House of Representatives in the 2022 midterm elections. For the next six months or so, you’ll be hearing about the debt-ceiling standoff that could torpedo the U.S. economy. This isn’t some natural phenomenon or market abnormality we have no choice but to deal with. It’s a manmade construct that once served a purpose but has now become a mechanism for abuse of the majority by a… Source link
Read More »What Republicans are thinking in the debt-ceiling standoff, according to Gary Cohn
Congress is running out of time to resolve the government debt showdown and risks defaulting on its debt. U.S. House of Representatives Democrats passed a measure earlier this week to fund the government through early December and suspend the nation’s debt limit through December 2022, but the proposal faces an uphill battle in the Senate, where GOP lawmakers have vowed to block it. Republicans feel it is the Democrats responsibility to raise the debt ceiling alone using budget… Source link
Read More »