Photo: Wikimedia Commons
We asked a Capitol Hill source for his thoughts on the news that the Biden debt ceiling talks have collapsed.We wondered if this was predictable Kabuki theatre, or something real.
Frankly, we’re a little worried now.
Think of the Biden group as the last, best hope to get anything done without going to the brink.
If Cantor doesn’t get back in the game soon we will be dealing with this in the wee hours of the morning around 8/2.
The House calendar really only give us two options to vote on this, the week of 7/11 or 7/25, it’ll take at least a week for this to get talked over, so Cantor isn’t back in by the end of this week, the soonest they’ll meet again is 6/7…which almost puts 7/11 off the table.
Not a lot of breathing room around here and a lot of members don’t seem to think that missing the deadline would be a big deal (the 10yr yield isn’t exactly telling a different story).
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