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GOP sees debt ceiling as its leverage against Biden

Posted on AllSides July 26th, 2021
From The Center

Senate Republicans plan to demand big spending reforms in exchange for their support of legislation to raise the nation’s debt ceiling, seeking leverage to rein in President Biden’s plan to pump trillions of dollars into the economy.

GOP senators are reviving demands they made in 2011, the last time there was a political standoff over raising the debt limit, but it’s a risky move.

The 2011 debt limit was solved at the last moment, and a subsequent downgrading of the nation’s creditworthiness by Standard & Poor’s triggered a stock market crash....

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