Democrats, Republicans say they've reached deal to avert another debt ceiling crisis
Source: Washington Post
Top Democrats and Republicans signaled Tuesday they had clinched a deal to raise the countrys debt ceiling, settling on a complicated legislative maneuver to help them stave off another high-stakes battle and prevent the U.S. government from experiencing a catastrophic default.
The apparent compromise arrived eight days before a critical fiscal deadline, averting what would have been another political and economic crisis. Senate Majority Leader Charles E. Schumer (D-N.Y.) and Senate Minority Leader Mitch McConnell (R-Ky.) each expressed a measure of confidence that they had the votes to proceed with their plans, while Speaker Nancy Pelosi (D-Calif.) put the House on track to adopt the measure Tuesday evening.
The deal itself does not directly raise the debt ceiling but rather sets up a smoother process that allows Democrats in the narrowly divided Senate to accomplish the task without GOP support. The two sides had been at loggerheads over the issue for months, with Republicans refusing to lend their must-have votes to raise the borrowing cap, in protest of President Bidens economic agenda.
Democrats decried Republicans stance, especially since the party provided the votes necessary to address the debt ceiling even when President Donald Trump pursued policies they disliked. In the end, though, GOP lawmakers at least paved the way for Democrats to meet the fiscal deadline without risk of disruption or delay, potentially by raising the cap high enough to last through the 2022 midterms.
Read more: https://www.msn.com/en-us/news/politics/democrats-republicans-say-theyve-reached-deal-to-avert-another-debt-ceiling-crisis/ar-AARzinU
cstanleytech
(26,332 posts)seppuku on national television 5 minutes after they offer an abject apology for the betrayal and damage they have done to the country in their quest for power at any price.
Bernardo de La Paz
(49,047 posts)Sorry, we just don't.
bucolic_frolic
(43,352 posts)Anything you say will be used against you.
IronLionZion
(45,550 posts)if only Congress could find something better to do than repeat this nonsense every few months. I suppose they're expecting someone else to fix their own created processes and procedural rules.
IbogaProject
(2,845 posts)All their debt w the annual interest payments we year split by the shares up to the prior year. They must be 60, 70, 80% of the total by now.