White House Mulls Debt Ceiling Options

The White House is “exploring a series of strategies for raising the debt ceiling, in a bid to avert a standoff with Republicans next year that threatens to further rattle financial markets and endanger the nation’s fragile economic recovery.” Politico reports.

“The private discussions have focused largely on whether Congress can and should head off the high-stakes conflict before it begins by striking a lame-duck session deal to lift the debt limit — or, in a sign of the grave concerns within the party, deploying a procedural tool that would allow Democrats to unilaterally pass an increase. Under consideration is a debt ceiling hike that would extend past the 2024 election, in effect removing the drama for the rest of Biden’s term.”