Praying for the Republicans to fold was a more risky game for Democrats, because. If, for the first time, the US government fails to meet its obligations to international donors, its role as a safe-haven investment in the world economy will be called into question. Interest rates are likely to rise sharply, and global financial institutions will begin to look for new vehicles to save money, where it will not be hidden from biased politics.
“We are not asking them to blink; We’re telling them to be a little bit more rational, “said Senator Angus King, a centrist Republican leader independent of Maine.” Its political gain hurts me very little. The loss of the country hurts me terribly. “
Understand the US ceiling
What is the limit of debt? Ceiling ceiling, also known as debt ceiling, is a limit on the total amount of money that the federal government is allowed to borrow through U.S. Treasury bills and savings bonds to meet its financial obligations. Because the United States runs a budget deficit, it will have to borrow huge sums of money to pay its bills.
Republican barriers to the Orrow border last week forced Democrats to withdraw a debt-ceiling increase from a mandatory spending bill to avoid a government shutdown. And Mr. McConnell refused to allow Democrats to go to a vote unilaterally.
“Democratic leaders didn’t want a solution,” he said. McConnell said on the Senate floor Wednesday. “They want to turn their failures into a crisis for everyone else, play risky games with our economy, use drama created to intimidate their own members, engage in petty politics instead of governance.”
Top Democrats have since rejected their claim that Republicans have joined them in bipartisan support to increase the statutory limit on the government’s ability to meet its financial obligations. They, in turn, want to honor Mr. McConnell’s demand for Democrats to lift the ceiling alone – either by agreeing to go to a vote or by giving 10 Republicans a vote to break Philibuster.
New York Senator Chuck Schumer said, “We’ve already given Republicans countless opportunities to do what they want to say, including a simple majority vote, so that Democrats can limit their holdings at the request of Republicans.” , Said Wednesday. “But every time the Republicans choose the barrier.”
Although top Republicans say most of their members will personally allow Democrats to go ahead on their own, they are reluctant to vote that way publicly, and could force any single senator to object and vote.