Schumer forces debt limit vote to squeeze Republican resistance

Senate Majority Leader Chuck Schumer said Monday that he’ll tee up another ill-fated vote on waiving the debt limit, attempting to shame Republicans for blocking action as the country nears the brink of default.

Another failed vote to lift the debt ceiling could worry economists and Wall Street investors, as thethat the nation could deplete its borrowing ability by Oct. 18, or the so-called X Date. But Democrats must start moving soon if they want to lift the debt ceiling through the reconciliation process, or the same special budget procedure that they’re using to pass Biden’s massive social spending plan. Biden signaled no interest in the notion during remarks on Monday, stressing that Republicans must stop stonewalling.

Still, it’s unclear if some Senate Republicans will start to feel the heat from the business community and financial markets should the stalemate continue to drag on. If the GOP simply refuses to lend the necessary votes, several Senate Democrats said the majority party won’t allow the country to cross over into dangerous economic territory.

In his Monday letter, Schumer said Democrats will discuss the debt ceiling at their party lunch on Tuesday. Treasury Secretary Janet Yellen has warned that if Congress waits until the last minute to lift the cap on the nation’s borrowing authority, it could “cause irreparable damage to the U.S. economy and global financial markets.”

Yeah, that’ll teach them… /s

Stop the politics dems don't need 1 rep vote

“Elections have consequences”. Who said that 4 years ago? Was it McConnell?

Change the regular coting to the 51 that monster mitch used! Why not, chicken?

The normal person has a debt limit. Why not the government?

Chuck Schumer should go to Mitch McConnell and tell him I have 50 votes now the balls in your court all Democrats will vote to raise the debt if you are not going to stop the GOP from voting then the American people will know your party is the one who caused this disaster Period

Maybe now isn't the best time to be spending more money.

Chuck deal with the carried interest tax loophole while you are shaming others.

They want to save the Reconciliation Bill so they can use that to pass another ridiculously expensive wasteful bill like they're doing now to pass AOC's dream society... They don't want to waste Reconciliation on the Debt Limit...

They can’t be shamed. It also doesn’t help that the media doesn’t holding McConnell accountable.

Politico headlines in alternate universe: Schumer has firmly placed the Republicans in a lose-lose position with repeated call for votes to get them to reject increasing debt-limit with the political fallback that typically comes with it for the party that is seen as responsible.

Doesn't he get it? The Republicans have no shame.

Republicans have no shame.

GOP won’t pay Trump’s debt, how ironic! Not that Trump ever pays his debts anyway but it must feel good to get a little help from your friends!

Oh Schumer they are shameless, it won't work.

Who is this strategy for? What fraction of the country will ever even hear about this vote? If the Senate wasn't so self important, maybe they could get something done or make plans that make sense.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biden: ‘I can’t’ guarantee U.S. won't hit debt limitBiden said Monday that he could not guarantee that the federal government will not default on debt payments due later this month. “I don't believe that. But can I guarantee it? If I could, I would, but I can't,” the president said. Hey Politico - its called Honesty Not something you guys would be familiar with Actually, he said it's up to McConnell and that he didn't think it would come to that but couldn't guarantee it. He said if he could, he would. Hmm...maybe the guy who said all media outlets are trying to help Republicans crash the whole country is right?
Source: politico - 🏆 381. / 59 Read more »

Biden says he can't guarantee debt ceiling lift due to 'hypocritical, dangerous and disgraceful' GOP oppositionPresident Joe Biden on Monday said he couldn't guarantee the debt ceiling would be raised in two weeks as he slammed Republicans for opposing efforts to keep the nation from being unable to pay its debts for the first time in its history. No one wants to bring up the fact that the Fed is a foreign owned private bank printing debt as money. Truth hurts so will getting rid of GOP for a party that loves it's country not attacks it January 6 insurrectionist seditious republican party Worst reaction time (no reaction from you yet) ever for a developing worldwide event. Facebook is down everywhere. Where is CNN?
Source: cnnbrk - 🏆 393. / 55 Read more »

Republicans Block Democratic Effort To Raise The Debt Ceiling As Officials Warn Of Economic CatastropheThe U.S. could default on its debts for the first time ever if action isn't taken, Treasury Secretary Janet Yellen said. Then the 'officials' (who are they, exactly?) should have taken action on Dubya's admin before they 'lost' $3T. Or before Trump spent trillions foolishly and milked off the top...🙄 Ffs 🤦‍♂️ Time for the gray hairs to go .
Source: Forbes - 🏆 394. / 53 Read more »

Schumer Urges Action on Debt Ceiling by End of WeekSenate Majority Leader Chuck Schumer said in a letter to colleagues Monday that lawmakers must act to increase the debt ceiling by the end of the week to avoid any repercussions Hmm the rich gets richer and the poor here poorer but Bitcoin changes that narrative It takes 60 Senate votes to raise the Debt Ceiling. Dems will give their 50. How many will 'Mitch's Maven's' give? In-crease the debt ceiling huh, how do you do that cause I been asking my credit card companies to do that for me and I always get a rejection. I need a copy of that letter
Source: WSJ - 🏆 98. / 63 Read more »

Biden calls out Republicans for refusing to help raise debt ceilingPres. Biden delivers remarks on debt ceiling: “Republicans in Congress raised the debt three times when Donald Trump was president and, each time, with Democratic support. But now, they won’t raise it.” How about we LOWER the limit instead? Stop spending. So it's all Trumps agenda and non of that debt is corona vaccine research and stimulus checks, Roger that!
Source: ABC - 🏆 471. / 51 Read more »