Next up: Fractured Republicans will face debt ceiling vote

After failing to pass Obamacare repeal before leaving for their August recess, congressional Republicans will return after Labor Day with a deadline looming to raise the debt ceiling.  There will be only 12 working days for Congress after members return to deal with the issue. Treasury Secretary Steven Mnuchin sent a letter to members warning that unless action is taken to raise the debt ceiling by September 29, the government will not be able to meet all of its financial obligations. Wall Street Journal: The Treasury Department has been employing cash-conservation measures since March, when borrowing hit the formal ceiling of nearly $20 trillion. Those measures are expected to run out in early to mid-October. When they do, the government won't have money to pay interest on debt, write Social Security checks or make millions of other routine payments, unless it can tap credit markets for borrowing to raise additional cash. Missing...(Read Full Post)

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