October 20, 2021
Markets

Debt ceiling showdown forces Biden, Schumer to call for urgent action

Speaking from the State Dining Room, Biden blasted Republicans for not supporting an increase to the country’s borrowing cap, calling their stance “hypocritical, dangerous and disgraceful.” Twice in the past two weeks, GOP lawmakers led by Senate Minority Leader Mitch McConnell (R-Ky.) have blocked the chamber from taking action that would stave off a default in federal debts, prompting Biden to accuse them of pulling a “reckless” political stunt.

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