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Business

U.S. Congress stuck between a rock and a hard place on raising debt limit

By Richard Cowan, Reuters Posted on September 7, 2021
2021-09-07T101213Z_2_LYNXMPEH860E8_RTROPTP_4_USA-CONGRESS-DEBT-1200×801-1

Democrats and Republicans will start what could become a monumental game of chicken this month over raising the limit on U.S. government borrowing, as Congress attempts to avert an historic debt default.

Leaders of the Democratic-led Senate and House of Representatives are expected to force votes to lift the $28.4 trillion debt limit in late September. The limit was technically breached on July 31 but is being circumvented by Treasury Department “extraordinary” steps.

See the full article at amNewYork

U.S. Congress stuck between a rock and a hard place on raising debt limit

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