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Politics

Democrats’ Dare on Debt Sets Up High-Stakes Shutdown Fight

  • White House and Schumer’s assertions falling flat with GOP
  • Just getting close to the cliff smashed confidence in 2011
President Joe Biden
President Joe Biden

Photographer: Sarah Silbiger/UPI/Bloomberg

Updated on

Democrats are betting Republicans will blink and agree to raise the debt ceiling before it expires, a risky wager after a weeks-long standoff that threatens the health of the financial markets and continued U.S. government operations.

Should market turmoil and a federal shutdown ensue this fall, it could overshadow Democrats’ efforts to push through President Joe Biden’s $4.1 trillion economic agenda and serve a blow to the party heading into next year’s midterm elections.