With Default Looming, What Can Biden Do?
The federal government has perhaps less than a month left before an economically devastating default on its debt.
No matter who bears the political blame for a default, aides acknowledge that President Biden has a lot to lose if the nation tips into recession just as he is moving into his re-election campaign.
Mr. Biden has several strategic options as he tries to prevent that from happening. All have been the subject of discussions inside the administration and with Democratic allies in recent weeks. They range from continuing to hold out for Republicans to raise the nation’s debt limit with no strings attached to preparing unilateral action to effectively bypass the limit and keep paying the nation’s bills.
Some involve negotiations with Republican leaders, which Mr. Biden will insist are not related to the debt limit even though they would be.
Source: The New York Times
