"Raising the debt limit comes down to paying what we already owe ... not anything new," Biden said at a White House news conference. Asked if he could guarantee the United States won't breach the debt limit, the president answered: "No, I can't. In an open letter to Biden, McConnell reiterated that Democrats do not need Republican cooperation to pass a bill to raise the debt ceiling. Schumer on Monday filed a cloture motion, which ends debate, on a measure that would allow for extension of the debt limit. Concerns over the debt ceiling contributed to Monday's drop in the stock market.

Source: Dhaka Tribune October 05, 2021 03:00 UTC