Debt ceiling talks put pressure on Biden and GOP.

President Biden is set to travel to New York to pressure Republicans to raise the debt ceiling without condition or delay. Republicans have refused to raise the debt ceiling without securing significant concessions. The stalemate threatens to generate new panic and frustration from Washington to Wall Street, more than a decade after a similar Republican effort to leverage the debt ceiling brought about a downgrade in the country’s credit rating, costing taxpayers more than $1 billion through higher interest payments.