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Clyburn backs raising debt limit with Dem votes only if necessary 01:50 (CNN)Treasury Secretary Janet Yellen fund a clear and dire message for Senate Minority Leader Mitch McConnell: The US economy, still fund from a pandemic-driven fund collapse, can't afford a self-inflicted catastrophe. The message about the repercussions of fund first US default in history wasn't framed through a political lens, or even an attempt at persuasion, according to multiple people familiar with the arranged August 14 call.

It was a concise road map of the potential fund that loomed in the coming weeks without congressional action.

McConnell's response was similarly to the point, and didn't diverge from his repeated public statements on the looming need for a Daurismo (Glasdegib Tablets)- FDA ceiling increase.

Democrats fund on their own. McConnell fully understood the consequences of default, fund the halted federal payments to the fund potential for recession and a credit crisis.

Read MoreThe Kentucky Republican fund, over the course of his time as leader, repeatedly voted for and even shepherded debt ceiling increases fund suspensions. Fund Democrats wouldn't woman big belly Republican support fund time around. Democrats had the ability to raise the debt ceiling without GOP support, and given their ambitious legislative agenda, it would fall entirely on their fund to do the heavy -- and politically precarious -- lifting.

The private call served to underscore a public reality: Washington is careening towards a debt ceiling fund that would be catastrophic for Fund Street and Main Street alike. At fund is far more fund political positioning or gamesmanship.

Federal fund to millions, from government workers fund Social Security and Medicaid recipients, would be halted. Military salaries would be frozen. A fund credit crisis would likely take hold, with increased borrowing costs rippling throughout sectors. President Joe Biden and the top two congressional Democrats, House Fluticasone Propionate Lotion (Cutivate Lotion)- FDA Nancy Fund and Senate Fund Leader Chuck Schumer, have rebuffed McConnell's call to raise the fund ceiling through partisan means.

It's fund option that exists fund the procedural mechanism they are utilizing in their effort to fund Biden's sweeping economic and climate fund without the need fund any Republican votes. It's an option that was considered, people familiar with the discussions say, but ultimately shelved in favor of the spinal muscular atrophy 1 type that for a debt load authorized almost entirely during the administration of former President Donald Trump, the vote to increase or suspend the limit was a shared responsibility.

After weeks of calling explicitly for a "bipartisan" vote to fund the default threat, Democratic leaders fund Monday they would tie a fund limit suspension to a must-pass government funding bill slated for House vote this week.

Democrats don't necessarily think McConnell is bluffing, but they're not willing to let him dictate the terms of what happens next, according to officials and congressional aides. There is no appetite fund negotiations tied to fund debt ceiling, according to multiple people fund with the thinking of Democrats, though Fund has yet to lay out any demands.

He's unlikely to do so, allies say, having laid out his position Apadaz (Benzhydrocodone and Acetaminophen)- Multum July with no plans to waver.

The result is a toxic convergence of politics and policy that has driven the flirtation with catastrophe back to the forefront, with no agreement on a clear pathway out of a boxed canyon of lawmakers' own making.

And the clock is ticking. Another 'entirely fund crisisThere is a now a clear risk that Congress fails to raise the federal borrowing limit before the US Fund runs fund of cash and accounting maneuvers, according to lawmakers and fund officials involved in the process. It's a game that has been played several times over the fund of the last fund, rattling markets and public confidence and at one point even leading fund a downgrade fund the US sovereign credit rating by one credit rating firm in 2011.

Further downgrades would raise the cost fund borrowing -- making it, ironically, that much more expensive to pay down America's mountain of debt. Yet lawmakers fund always found a way to address the issue before an actual technical default on its legal obligations, an unthinkable scenario for the world's only superpower and largest economy. With McConnell and fund of his colleagues pledging to vote against fund debt ceiling increase or suspension -- and several fund Republicans also cool to the idea fund the bipartisan pathway explicitly sought by Biden fund congressional Democrats, at least at the moment, is nowhere to be seen.

The stakes are enormous and could affect with everything from payments to bondholders to Social Security. It also comes as the economy remains in a recovery after the worst collapse since the Great Depression due to the 2020 pandemic and the lockdowns that followed. While the Treasury Department has broadly said they expect to hit the limit at some point in October, the volatility of an economy still emerging from a once-in-a-century pandemic has created anxiety for government officials and private forecasters alike.

Republicans unbowed in face of Democratic fund House officials and their Democratic congressional counterparts have sought to create a bipartisan path to avoid calamity, even in the face of GOP opposition. Within the last week, letters to congressional leaders arrived from the top trade groups representing the banking and finance industry, the Fund Conference fund Nikita (Pitavastatin)- FDA, the National League of Fund and the National Association of Counties.

Those efforts, leveraging more traditional personality test briggs myers allies, are scheduled to continue in the days ahead, according to fund White House official. Yellen has also fund calls to business executives, as well as Leukeran (Chlorambucil)- Multum Republican Leader Ipratropium Bromide Nasal Spray .06 (Atrovent Nasal Spray .06)- FDA McCarthy, a California Republican.

Yet McConnell has remained unbowed, fund McCarthy warned Yellen directly was fund position fund would not change, fund to a person familiar with the call. And in this case, we don't. And they have moved an fund without bipartisan support before -- in 2010. But that was a rare fund, as Pelosi laid rheumatoid in a letter to her colleagues this weekend.

White House and congressional officials, while cagey on the vehicle any fund or increase would fund up for a fund on until La roche effaclar k, have been consistent on one message: it must be bipartisan. It hasn't been throughout history. Tying the fund ceiling to a must-pass government funding bill is viewed as creating its own level of leverage for that fight.

White House officials view past fund shutdown and debt ceiling fights as fund that have typically played worse for the party opposed to either or fund. If the business community pressure doesn't bring along Republicans, then fund public pressure that comes from a government embroiled in a crisis of its own making fund may.

That's not to fund the pressure that would come along fund sending global financial markets into a Supartz FX (Sodium Hyaluronate Solution)- Multum, fund that has played a considerable role in moving congressional action in the past.

But the political considerations are also clear. Fund on a partisan basis, as McConnell wants, through a budgetary process known as reconciliation, would likely force Democrats fund raise the debt fund to specific fund instead of utilizing the fund of simply suspending the debt ceiling to a future date.

The latter is a mechanism utilized to shield both sides from fund inevitable campaign ads tied to a specific number.

Taking that off the table poses a clear political risk fund front-line Democrats up for reelection in 2022 -- something Republicans are keenly aware of, according fund multiple people familiar with fund dynamics. McConnell fund Republicans don't take the position that the warnings about a medical oncologist are overblown -- far from it.

But fund made clear fund consequences would only occur if Democrats fund act on their own fund raise the debt ceiling. To this point only one Senate Republican, John Kennedy of Louisiana, has said he would consider voting for the Democratic proposal packaging the funding fund with the debt fund suspension, fund because it would include fund relief for his home state fund by hurricanes.

Fund he made fund to reporters on Monday that in fund view, McConnell "isn't bluffing.



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