Tuesday, July 9, 2019

CNBC reports U.S. about to bump into debt ceiling earlier than expected

While I wrote a lot about the government shutdown at the beginning of this year, I haven't posted a blog entry focusing on the debt ceiling since 2013.  Six years of silence on my part ends today, as CNBC explained this morning Why the debt limit deadline is closer than investors realize.

Lawmakers may have another big hurdle to deal with by the end of the summer. CNBC's Ylan Mui reports.
The discussion continued on CNBC as Two congressmen explain how lawmakers can avoid the debt cliff.

Congressmen Josh Gottheimer (D-NJ) and Lance Gooden (R-TX) join "Squawk Box" to discuss the looming budget battle on the hill.
Wow, bipartisanship, at least on this issue.  It's enough to inspire me to look up the DW-Nominate scores of both Representatives on Voteview.  Josh Gottheimer has an ideology score of -0.134, which makes him more conservative than 53% of the entire U.S. House and more conservative than 98% of the Democratic Caucus.  While that explains why the Republican might get along with him, the reverse is not obviously true, as Lance Gooden's ideological score is 0.743, which makes him more conservative than 98% of the U.S. House and 96% more conservative than the Republican Caucus — no moderate he!

This issue has the potential to cause a lot of trouble, especially given Trump in the White House, who basically caused the shutdown this year.  I expect it will be resolved in time, but I will keep tabs on it.  Stay tuned.

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