The federal government could shut down Friday if Congress fails to approve funding. And the U.S. will hit the debt limit on Oct. 18, causing default.
U.S. Sen. Chuck Grassley said Wednesday that Democrats should raise the nation’s debt ceiling on their own since they are pushing new legislation to increase spending on health care and education that Republicans don’t like. On Monday, Senate Republicans blocked a bill that would have kept funding the federal government into early December and would have increased the federal debt ceiling — the amount of money the U.S. government can borrow to pay its bills. Grassley, a Republican who recently announced he will run for reelection in 2022, said on call with reporters Wednesday that his party has consistently told Democrats where they stand and that “Monday’s vote should not have been a surprise.” “We’ve said pretty plainly for months we will not abet the tax and spending spree, and that we’re going to vote against the raise of the debt ceiling,” he said. More: Why does the federal debt limit matter? Here’s what America’s debt actually looks like Congress is now moving forward with a bill to keep funding the government into early December, without language raising the debt ceiling after Republicans objected to tying the two items together. The federal government could shut down Friday if Congress fails to approve the funding.
