Yellen has said that, starting January 19, she will have to take special measures to continue paying interest and principal on US debt. She says that might last until June or July.
The current House seems pretty disorganized and I don’t really see a path for them to get there. The implications for not increasing the debt ceiling and causing a default are dire, like dogs and cats sleeping together, etc.
The US was downgraded in 2011 when we came really close to defaulting.
Anyway, my question is, I understand that the Dems could have increased the ceiling back in December so that it wouldn’t be an issue until the end of Biden’s term/end of this House session. Why didn’t they do this? Were there senators who would have balked? Did Biden not push for it?