Taking Stock Once Again
We’re getting down to the wire on the debt ceiling, it seems. The zealots in the House of Representatives are not going to make this simple. If they stick to the formalism of having bills posted for 72 hours prior to a vote and if the Senate demands time to read the bill first then we practically have to have a deal done before Friday to be able to avoid the looming hard deadline of June 1st. It seems quite uncertain that they’re going to manage to get this done.
In headlines:
- AP: Debt ceiling explained: Why it’s a struggle in Washington and how the impasse could end
- AP: How damage from a US debt default could cascade across the global economy
- Federal News Network: If the government defaults, you might need that cash in your mattress
- Roll Call: Biden, McCarthy will attempt to salvage debt limit deal
- POLITICO: How a 12-year-old playbook is shaping the battle over the debt limit
- POLITICO: The technocrats fending off financial catastrophe