For the next few months, there will be much earnest reporting from Washington, D.C., about “negotiations” on the debt-ceiling standoff. House Republicans, led by Speaker Kevin McCarthy, will demand government spending cuts as a condition of raising the debt ceiling and allowing more federal borrowing so the Treasury can keep paying the nation’s bills. President Biden and his fellow Democrats will insist on a “clean” debt-ceiling hike with no conditions. News headlines will…
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