For months, the U.S. crisis over the debt limit has been a political abstraction. Not anymore.
for Congress to raise the debt ceiling or risk default has ratcheted up the heat on Washington's lawmakers to avert an economic crisis.
That's the length of time in which the House, Senate and the president are all physically in Washington, D.C. in May. There, Biden plans to "stress that Congress must take action to avoid default without conditions," a White House official said. Biden and McCarthy haven't sat down to discuss the issue since February.
"There is very little time on the legislative calendar to reach a deal," wrote Goldman Sachs Group IncAlthough there is plenty of precedent for Congress's scheduled state work visits to be changed, Biden's May travel schedule is less flexible.
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