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Lawmakers could have just 12 working days to solve debt ceiling crisis

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House lawmakers could have as few as 12 working days to raise the debt ceiling before Americans experience an economically catastrophic default

the bill the Default on America Act, or DOA, and he has continued to stand behind Biden's stance that Democrats will not negotiate raising the debt ceiling, and it should be a clean deal without any spending cuts attached.

Biden is meeting with Schumer, McCarthy, Senate Minority Leader Mitch McConnell, and House Minority Leader Hakeem Jeffries on May 9 to discuss the debt ceiling, and while it's unclear what conclusion the congressional leaders will arrive at, a White House officialThe White House Council of Economic Advisersthat a short default would lead to the GDP shrinking by 0.6% and the country shedding half a million jobs.

 

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