Time Running Out on the Debt Ceiling

Washington Post: “The administration’s attempts to enlist the support of business executives may also prove unsuccessful. White House Chief of Staff Jeff Zients has personally asked top business leaders to advocate for a solution to the debt ceiling debate.”

“But corporate America doesn’t have as much clout with the GOP as it did in Obama years, and it’s not clear such measures will be effective with the House conservatives who nearly derailed McCarthy’s leadership bid earlier this year.”

Said a person close to the White House: “The two endpoints on the spectrum of outcomes — the full GOP policy wish-list on the one hand, or a catastrophic default on the other — are both totally unacceptable to them. But no progress has been made on making sure there’s a resolution that’s between those two options.”

Politico: “There’s doubt inside the West Wing about whether McCarthy is ready for a meeting. Some aides believe it will take mounting pressure from the business community for the speaker to relent and that, given the difficult politics within his own caucus, he may not be able to back down.”