The big story on Capitol Hill this week is the debt ceiling showdown between Democrats in Republicans.
Last week, the two parties drafted a short-term deal to prevent the U.S. from defaulting on its debts, averting a self-inflicted government crisis, for now.
“It’s absolutely essential to maintaining the credit of the United States” said Senator Jeff Merkley (D – Ore.). “A failure to pay those expenses puts our credit at risk which will greatly increase what we pay for interest and what families pay on home loans and auto loans. It would create the possibility the loss of millions of jobs and trillions of dollars in family savings so it’s very big intense moment and should be an easy solution.”
Since the Senate kicked the can down the road to December and the House will vote on the short-term deal this week, we’ll be going through the debt limit debate again.
KATU’s Wright Gazway Interviewed Senator Merkley on Wednesday, the day before the Senate passed the temporary stop gap measure.