US Treasury: Debt ceiling could rise despite congressional opposition

  • Under McConnell provision of August 2011 budget deal, Congress would have 15 days to deny president’s request for an increase in the debt ceiling
  • President could veto congressional denial, allowing debt ceiling to rise

Forgot about that little trick. Allows Republicans to vote against raising the debt ceiling but assures that the ceiling will go up without the drama seen in the summer of 2011.

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