Republican leader offers temporary fix to US debt crisisSenate Minority Leader Mitch McConnell offers a temporary respite in the US debt ceiling standoff. Senate Minority Leader Mitch McConnell said Republicans would allow Democrats to vote for temporarily lifting the debt ceiling, which is about to expire, triggering a government default, "into December." The debt ceiling is a legal limit on the ever-ballooning US national debt. Biden called the debt ceiling a "meteor headed to crash into our economy," while Citi Bank CEO Jane Fraser said Congress was "playing with fire." "Republican obstruction on the debt ceiling over the last few weeks has been reckless, it's been irresponsible," Chuck Schumer, the Senate's Democratic leader, told lawmakers.

Source: Bangkok Post October 06, 2021 18:56 UTC