Here we go again. Given the many stories demanding our attention, the potential for a debt ceiling crisis seems miniscule. After all, we agreed to spend on the national credit card. The bill is now due, so pay up already..
Not so fast, says the house Republican majority. Unless you agree to unspecified cuts to government programs, we will default on the debt. Most experts agree that doing so would precipitate a global financial crisis leading to all sorts of unanticipated consequences. Regardless, the chaos monkeys in the Republican caucus would probably burn the economy down in return for the headlines it would generate and the notoriety they would accrue.
Meanwhile, the full faith and credit of the US is held hostage as those with no moral scruples prepare to torch the economy in preference to letting the Biden administration govern as it was elected to do. What a world...
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