Unraveling America's Dance With a Debt-Ceiling Disaster
The US debt ceiling is all anyone in Washington (and increasingly elsewhere) can talk about these days. For months, politicians have been in a stalemate triggered by Republican demands for spending cuts as the price for paying America's debts. With next week seen as the point at which the Treasury may have to start issuing IOUs, any deal to avert a catastrophic default is going to come down to the wire.
Recent sticking points are tied to potential spending caps, the GOP's insistence on slashing domestic spending for several years and the Biden administration's desire for more limited cuts. On…
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