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Psaki Tells Republicans to 'Be Adults' Amid Debt-Limit Impasse
Posted
October 6, 2021
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1:47Now PlayingSenate Republican leader Mitch McConnell offered Democrats a deal to raise the U.S. debt ceiling into December, which would alleviate the immediate risk of a default and could push it into an end-of-the year political fight.
Senate Majority Leader Chuck Schumer didn’t respond publicly, but he called a meeting of Senate Democrats and is expected to confer with McConnell. The Senate meantime delayed an attempt to advance legislation to suspend the debt limit, which Republicans were poised to block.
McConnell’s proposal would increase the limit on federal borrowing by a fixed dollar amount that would be sufficient to tide the Treasury over until December, when Congress would have to vote again to avoid a default. That vote could come at about the same time that Democrats are attempting to move a massive tax and spending package. That’s also when Congress will have to act again to fund the government as part of regular fiscal-year spending, and avert a shutdown.
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