, Columnist
Five Things to Watch For in the Debt-Ceiling Talks
It can be hard to tell if lawmakers are getting close to a deal, but there will be signs of progress — or lack thereof.
Time to raise the ceiling.
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The looming fight to raise the federal debt limit is drawing parallels to 2011 and 2008, neither of which is especially encouraging. In both cases, Republicans in the US House showed they were willing to risk economic and financial catastrophe to make a political point. The question is how far they are prepared to go this time.
The short answer: Pretty far. I spoke to economists, current and former government officials, and veterans of past legislative battles, and many believe that there’s only one thing that will force recalcitrant lawmakers to make a deal: market turmoil.