Fights over increasing the nation's borrowing authority have been contentious in Congress, yet follow a familiar pattern: Time and again, lawmakers found a way to step back from the brink before markets began to panic and the nation risked a dangerous...
insists such legislation be passed without conditions. It’s an impasse that shows no signs of easing ahead of this summer’s deadline for action.ally, described his outlook. “And frankly, I don’t see how we get there at this point. There’s no process set up, there’s no dialogue, there’s no discussion.”
But some damage was done. Standard & Poor’s Ratings Services downgraded U.S. debt for the first time that year because it lacked confidence political leaders would make the choices needed to avert a long-term fiscal crisis. Republicans say they are determined that Biden, who was Obama’s vice president during both of those debt ceiling battles, will have to follow the path set in 2011 - not the one set in 2013.
“Look, there’s gonna be shrapnel all around, right. Right?” Perry said. “Everybody might take some wounds from it, but he’s not walking out of this thing unscathed.”in which Republicans struggled to elect a speaker, they are taking great pains to show unity. Moderates and conservatives in the House are adamant: Biden must engage.
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