Debt crisis averted, but at what cost?
Oct 13, 2021
4 minutes
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 resolved.
The increase will only cover the bills through early December, which is also the end date for a temporary extension of government funding that passed the Senate Sept. 30 with support from more than a dozen Republicans.
At the same time, Democrats missed their own deadlines for passing a $1.2 trillion bipartisan infrastructure package that
Biden’s visit to CongressDebt limit crisis, Part 2You’re reading a preview, subscribe to read more.
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