McConnell, flanked by Corker, Barrasso and Thune, holds a news conference after the weekly Senate Republican policy luncheon at the U.S. Capitol in Washington

Senate leader McConnell promises no default on debt

McConnell, flanked by Corker, Barrasso and Thune, holds a news conference after the weekly Senate Republican policy luncheon at the U.S. Capitol in WashingtonThe U.S. Congress will be in no hurry to raise the federal government’s borrowing limit, Senate Majority Leader Mitch McConnell said on Sunday, but will act in time to avoid Washington defaulting on its debt. “The debt ceiling will be handled over a period of months,” McConnell said during an interview on CBS’ “Face the Nation” broadcast. On Friday, Treasury Secretary Jack Lew asked Congress to raise the statutory cap on borrowing “as soon as possible.” The government is expected to exhaust its borrowing authority around March 15, but it can take emergency steps to continue paying its bills. The non-partisan Congressional Budget Office estimates such steps will be exhausted sometime in October or November.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
Russian Lawyer Who Met With Trump Jr. Linked To Group Hired By Democrats https://t.co/pm9NaKceA2 #backfire #leftwing https://t.co/17lD1bMNPr - 5 months ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article