Congress passed its landmark Fiscal Responsibility Act this week to raise the debt ceiling ahead of a looming default deadline. Now, Democrats are considering ways to eliminate the debt limit entirely from spending talks.
Lawmakers approved the bipartisan deal earlier this week that allows Democrats to raise the debt ceiling while approving a number of government spending cuts proposed by Republicans. The deal meant that neither side got all that it wanted — a result of a divided government, party leaders said.
STUDENT LOAN PAYMENT FREEZE GETS END DATE IN DEBT CEILING BILL
However, the legislation is prompting Democrats in both chambers to consider ways to allow the president to raise the debt ceiling unilaterally if needed in order to remove one of Republicans’ largest pieces of leverage from future negotiations.
The debt ceiling was created by Congress in 1917 as a way to eliminate the need for daily financial management. In doing so, the debt …