Debt crisis averted, but at what cost?

Posted on AllSides October 14th, 2021
From The Center
federal budget, debt ceiling, budget reconciliation, federal debt
J. Scott Applewhite/AP

After punting on the debt, Democrats in Congress now face a critical stretch, with President Biden’s domestic agenda on the line. Recent weeks have exposed real rifts within, as well as between, the parties.

With Tuesday’s 219-206 vote along party lines to increase the U.S. debt limit by $480 billion, House Democrats averted a possible global financial meltdown just one week before Treasury Secretary Janet Yellen had warned that the United States would run out of funds and default. But Congress’ – and the country’s – problems remain far from...

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