Democrats’ Dare on Debt Sets Up High-Stakes Showdown

“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,” Bloomberg reports.

“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.”