However, Wrightson wrote that there’s significant uncertainty in its estimate and “the outlook gets progressively murkier with each passing day in the second half of October.” The Oct. 25 date, they said, could get moved “up or back by a few days” based on information that will become available later this week.
Biden said Congress should not wait until the last second, since the U.S. credit rating could be downgraded ahead of whenever the actual "catastrophic event" may occur, saying "interest rates will rise for mortgages, auto loans, credit cards."
Senate Minority Leader Mitch McConnell’s stance has been clear for months: Republicans won’t help raise or suspend the debt ceiling. Democrats are on their own. But they haven’t consented to allow Democrats to pass the measure with a simple majority, arguing instead that Democrats don’t even need GOP help for that procedural step. McConnell reiterated that stance in a letter to Biden on Monday.
Democrats have cited votes in 2003, 2004 and 2006 under unified GOP control, when even though Democrats almost unanimously voted against raising the debt limit, they never filibustered it in the Senate, allowing Republicans to pass the bills with simple majority votes.
"So let's be clear, not only are Republicans refusing to do their job, they're threatening to use … their power to prevent us from doing our job," Biden said at the White House.
"danger" - Google News
October 05, 2021 at 12:41AM
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Biden warns of 'danger for miscalculation' on debt limit - Roll Call
"danger" - Google News
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