The biggest unknown in Washington this year could be the debt ceiling.
Historically, markets have reacted
negatively whenever lawmakers have risked raising the debt ceiling
This year's looming deadline, which analysts anticipate
could occur sometime between the summer and fall of this year
may add even more pressure if
it coincides with an economic downturn.
Some progressives are urging Congress
to remove the debt ceiling together, but that's impossible for moderate Republicans
Meanwhile, hardline conservatives insist
the nation should not raise the debt limit unless
it makes significant cuts in the costs of
entitlement programs. This fight would only intensify
if there were an economic downturn
and if S&P threatened to downgrade the US's credit rating
which first happened during
the last debt ceiling debacle in 2011.
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