Lawmakers and Officials Warn of Impending US Debt Crisis

Key members from both parties are rejecting the idea of hiking the debt ceiling for a short period to give negotiations more time. Republicans are blaming President Joe Biden and Democrats for waiting too long to start talks in the first place, while Democrats insist Republicans stop playing with fire and support a “clean” debt increase. Democrats, meanwhile, aren’t willing to negotiate on the debt — and several more months bought by a temporary extension could mean they’re conceding to do just that. Adding to the complications of a temporary hike: it would likely coincide with government funding talks slated to happen over the summer, with a shutdown deadline on Sept. 30.