White House rules out concessions on debt ceiling while GOP refuses to help avert financial crisis
The White House is in a bind over the potential breach of the federal debt ceiling as GOP lawmakers refuse to help Democrats avert a national financial catastrophe, leaving the administration with few easy answers as time runs out.
Senate Minority Leader Mitch McConnell (R-Ky.) has insisted Republicans will not cooperate with pleas from the Biden administration to increase or suspend the debt ceiling — the legal limit for what the federal government can borrow to avoid defaulting on its obligations.
Meanwhile, the White House has ruled out offering policy concessions to...