Saturday, October 9, 2021

In Context: Strategic Pause

After rejecting a request for a strategic pause from a Senator from his own party a month ago, Majority Leader Schumer this week accepted an offer for a pause from Republican Leader McConnell. Wall Street was getting nervous and credit rating agencies were announcing intended changes if the debt ceiling was not raised.

While Republicans felt they had a strong case for having nothing to do with a debt limit increase, they gave a temporary reprieve to ensure their case was airtight. Make no mistake, if they are not taken seriously, if the U.S. hits a hard fiscal limit, and Members of Congress start taking incoming from all corners of the economy, the pressure to “do something” will be immense, unlike anything yet seen.

Congress Update

Daily Digests – House • Senate — Prayers — Committee Reports

Senate — Daily Leader Remarks • Actions begunpasseddeclinedsummarized

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Congress sends 30-day highway funding patch to Biden after infrastructure stalls

S. 1301, the legislative vehicle to suspend the debt limit
Senate approves short-term debt ceiling increase

Schumer Gloats (Full Speech), Senate Democrats are still vowing not to act later via reconciliation

Biden Warned In Letter Ripping Schumer’s Speech: ‘Even Democratic Senators Were Visibly Embarrassed’

Why the Senate blinked — and stepped back from the brink of a federal default

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