NEWS ROUNDUP: REPUBLICANS PUSH U.S. CLOSER TO ECONOMIC CATASTROPHE IN DEBT LIMIT VOTE

Yesterday, Republicans in the U.S. Senate blocked a bill to fund the United States government and lift the debt ceiling, pushing the United States closer to defaulting on its debt and placing middle-class Americans and the entire economy at risk. Independent economists and experts, including Fed Chair Jerome Powell, have made clear that a failure to suspend or raise the debt limit would result in catastrophic damage to the economy. Yet, Republicans continue to play games with our economic recovery and the financial security of middle-class Americans.

Here’s What They’re Saying:  

Business Insider: Mitch McConnell’s Senate GOP votes for the US to default on its debt and for the government to shut down

Senate Republicans led by Minority Leader Mitch McConnell blocked a measure on Monday evening that would have averted both a debt default and a government shutdown, bringing the US another step closer to a financial debacle as Republicans escalate their efforts to derail President Joe Biden’s domestic agenda.

The New York Times: Republicans Block Government Funding, Refusing to Lift Debt Limit

Senate Republicans on Monday blocked a spending bill needed to avert a government shutdown this week and a federal debt default next month, moving the nation closer to the brink of fiscal crisis as they refused to allow Democrats to lift the limit on federal borrowing.

[…] Republicans who had voted to raise the debt cap by trillions when their party controlled Washington argued on Monday that Democrats must shoulder the entire political burden for doing so now, given that they control the White House and both houses of Congress. 

Missouri Independent: Senate GOP torpedoes U.S. government funding bill, raising odds of federal fiscal crises

U.S. Senate Republicans blocked an attempt by Democrats on Monday evening to begin debate on a broad bill that would avert multiple looming fiscal crises for the federal government.

Barron’s: Republican Senators Block Bill to Keep Government Funded

The U.S. government may begin failing to pay its bills on time as early as next month if there’s no swift end to a stalemate marked this evening by a vote in which Senate Republicans rejected Democratic funding proposals.

Bloomberg: Senate GOP Blocks Bill to Raise Debt Limit, Avert Shutdown

Senate Republicans blocked a bill that would suspend the debt ceiling into December 2022 and keep the government operating past Sept. 30, forcing Democrats to find a new strategy to address two fast-approaching deadlines with acute economic consequences.

The New Yorker: Republicans Are Gambling Recklessly on the Debt Limit

For weeks, McConnell has made clear that his goal is to force the Democrats to raise the ceiling on their own, through the reconciliation bill, so that Republicans can attack them for profligacy going into next year’s Senate and House races. The G.O.P. is pursuing this cynical and reckless course even though Democrats twice agreed, during Donald Trump’s Presidency, to raise the debt limit on a bipartisan basis.

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