Congress Looks to Long-Term Solutions for Debt Limit

“As Congress prepares for yet another showdown over the debt ceiling, long-term solutions for addressing what has become an increasingly partisan issue are re-emerging,” NBC News reports.

“The U.S. narrowly avoided default in October after Republicans refused to vote for a debt limit increase. Democrats instead passed a short-term extension, setting up another fight for early December. Treasury Secretary Janet Yellen said in a recent letter to Congress that she has a ‘high degree of confidence’ that the Treasury will be able to finance the government through Dec. 15.”