September 28, 2021

Today, the fight over the debt ceiling continued. As Treasury Secretary Janet Yellen warned that breaching the debt ceiling would delay Social Security payments and military paychecks, as well as jeopardizing the status of the U.S. dollar as the international reserve currency, Senate Majority Leader Chuck Schumer (D-NY) offered Senate Republicans “a way out” from having to participate in raising the ceiling, despite the fact that the Republicans had added $7.8 trillion to the now-$28 trillion debt during Trump’s term. Schumer asked for unanimous consent to pass a debt ceiling increase with a simple majority that the Democrats could provide alone.

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