What happens when a cataclysmic deadline hits an immovable object? Congress is about to find out when a looming credit crisis meets Mitch McConnell.
With the threat of default on the nation's $28 trillion debt awaiting this fall, Democrats are going ahead with plans to exclude raising the federal borrowing limit from their party-line $3.5 trillion budget bill. Instead, they are counting on the Senate minority leader to provide them the GOP votes they need to overcome a filibuster and avert economic disaster.
Democratic aides said the party would likely combine increasing the debt ceiling with a stopgap spending bill that'll be required to avoid a shutdown at the end of next month. The House will likely take up and pass the combo measure first, then ship it off to the Senate, where Democrats are counting on enough Republicans to join them to head off the looming fiscal disaster.
“At that time it was all four hooves and snouts in the trough," Connolly added. "So for Republicans to suddenly take a hands-off, ‘we don’t believe in debt’ posture, gives hypocrisy a bad name.” Democrats could always change course and amend their budget resolution to include the debt ceiling on either the House and Senate floors. They could even revisit the issue in September. But Murray, who serves on the Budget Committee, said her party had no plans to do that.
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