What happens if the US hits the debt ceiling? Lawmakers squabble as nation nears limit

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If Congress fails to raise the debt ceiling, the government would automatically default on its payments with possible ramifications including a stock market crash, recession and rise in unemployment.

What are the solutions on the table?

In the meantime, Congress will continue negotiations. House Republicans, led by Speaker Kevin McCarthy, are expected to use the debate as leverage to push for spending cuts. Democrats have said such a proposal would be a nonstarter, though. White House press secretary Karine Jean-Pierre said in a briefing Monday that the administration would not be open to negotiations and that Congress needs to solve the problem "without conditions."

This is not the first time the GOP has proposed the strategy. But experts then and now have warned against it, saying the approach would not stave off economic downfall.that makes raising the limit more difficult, Majority Leader Steve Scalise, R-La., said a priority for Republicans is ending what they see as a cycle of overspending.

 

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You mean like when Biden took office?

Been through these shutdowns many times. Big nothing burger.

its time to cut the card

The democrat s know there crashing the economy already, so this is a great way too blame republican s. Stock market has had two bad days , and housing market crashing already. Democrat s suck

The Republicans will steal from ss

So that will happen instead of getting rid of the pork? Why? Cut the pork. 31 Earmarks for Graham $362 mil, Schumer 205 earmarks for $316 mil, Roy Blunt 48 earmarks for $313 mil. This is just outrageous!!!

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