With a deadline of Sept. 29 looming and Congress nearing their summer recess, the debt ceiling is primed to be a big issue when they return. (Meg Kelly/The Washington Post)Talks between the White House and the Senate’s top Republican and Democrat broke up Tuesday with no progress on raising the country’s debt ceiling, an impasse that threatens a financial crisis if left unresolved. During a hearing before the House Ways and Means Committee on May 24, Treasury Secretary Steven Mnuchin asked Congress to raise the debt ceiling before the summer. Several hours after the meeting, White House spokeswoman Sarah Huckabee Sanders implored Congress to act, illustrating how serious the Trump administration now believes this issue to be. (The Washington Post)Republicans often resist efforts to raise the debt ceiling, making GOP leaders rely on Democrats to help them get enough votes to pass the bill.

Source: Washington Post August 01, 2017 16:32 UTC