Top Democrat Warns Congress Could Go to the Brink

Bloomberg: “The House Democrat leading his party’s debt-limit fight with Republicans has a warning for US markets: prepare for a summer plunge because Democrats are going to the mat to stop the GOP from using the ceiling to enact spending cuts.”

“Representative Brendan Boyle of Pennsylvania, the top Democrat on the Budget Committee, sees the standoff as ‘the most dangerous moment since 2011,’ when the US credit rating was downgraded for the first — and only — time.”