White House Pushes for Quick Action on Debt Limit

“Top White House officials are imploring key Republicans to move quickly and raise the debt ceiling, concerned that a prolonged impasse could raise the chances of a misstep that damages the economy later this year,” the Washington Post reports.

“The requests have taken on new urgency because other budget discussions with Capitol Hill have broken down, leaving policymakers at a loss for ways to avoid a pileup of dangerous deadlines in September that could impact the stock market, labor market and economic growth.”

“But the effort appears to be getting little traction so far, in part because some Democrats are insisting that any debt ceiling deal come as part of a package of changes that raises spending levels after October.”