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A U.S. debt ceiling debate is once again on Congress' agenda. Congress has about three weeks to pass a budget, and the White House has said that U.S. President Barack Obama will not negotiate over raising the 2013 debt ceiling provisions.
We've seen this script before on debt ceiling deadlines, and with so many other pressing issues. Congress will again kick the can down the road.
Before that, a brewing showdown will again unfold, one with distinct consequences for other forms of legislation and the country.
Republicans will likely display the debt ceiling talks to voice opposition to other parts of the Obama agenda. According to policy experts, 80 GOP members of the House have said they will only support a budget resolution that defunds Obamacare.
With this year's IRS mishaps, the revelations of the National Security Agency spying program, and Congressional approval hovering at near lows, the debt ceiling is creating a cloud of uncertainty that could leave Washington in complete disarray...
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.