Colorado Springs, Colorado 2021-10-12 02:51:41 –
Congressmen are scrambling in Washington to pass a short-term increase in the country’s debt limits.
By voting on Tuesday, the federal government will be able to pay the bill in full until December.
Democrats in the House of Representatives are expected to get enough votes on their own to allow President Joe Biden to sign the bill this week.
Defaults have had a tremendous impact on global financial markets, and regular government payments to social security beneficiaries, disabled veterans, etc. would have been questioned.
However, the relief provided by the passage of the bill is only temporary, forcing Congress to revisit the issue in December.
House returns to stave off default with debt-limit vote Source link House returns to stave off default with debt-limit vote