Debt Ceiling: "The United States debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury, thus limiting how much money the federal government may pay on the debt they already borrowed. The debt ceiling is an aggregate figure that applies to the gross debt, which includes debt in the hands of the public and in intra-government accounts. About 0.5% of debt is not covered by the ceiling." - Wikipedia" Which means today's Debt Ceiling has to do with Trump era spending and nothing to do with Biden's spending requests.
"Biden accuses GOP of playing ‘Russian roulette’ with economy in debt ceiling standoff" PBS NewsHour 10/4/2021
Excerpt
SUMMARY: A high stakes standoff between President Joe Biden and Senate Republicans is unfolding in Washington over the country's debt limit. It comes just two weeks before the United States is set to default on its debt, which could trigger damaging economic consequences for the entire country. Biden on Monday called Republicans' position "dangerous." Yamiche Alcindor joins Judy Woodruff with more.
"Congress should raise debt ceiling for the long term, White House economic adviser says" PBS NewsHour 10/6/2021
Excerpt
SUMMARY: With a new but possibly temporary deal providing a potential pathway out of the impasse between congressional Democrats and Republicans over raising the federal debt limit, Judy Woodruff gets more on the state of play and what's at stake with Jared Bernstein, a member of the President's Council of Economic Advisers.
"After public barbs, Schumer and McConnell on brink of agreement in private debt talks" PBS NewsHour 10/6/2021
Excerpt
SUMMARY: There is a new offer on the table in Congress tonight — a potential pathway out of the impasse between Democrats and Republicans over raising the federal debt limit. The consequences of a default would be severe. Congressional correspondent Lisa Desjardins reports on the new offer and the possibility of it gaining traction.
"Some in GOP unhappy with McConnell over short-term debt deal with Dems" PBS NewsHour 10/7/2021
Comment: Read title as "Trump worshiping GOP unhappy....."
Excerpt
SUMMARY: After weeks of stalemate, Senators have reached agreement to temporarily raise the debt ceiling, shortly before Republicans prepared to block legislation to suspend the debt limit until December of next year. The agreement averts a possible economic crisis — for now. Congressional correspondent Lisa Desjardins explains the details of the agreement and what lies ahead.
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