When both houses of Congress rejecting the other chambers debt ceiling bills, and harsh public rhetoric accompanying the rejected bills, actual progress and results seem out of reach at the moment. What’s next?
Whether both houses of congress realize it or not yet, they will have no choice but to raise the debt ceiling, whether it is in the next couple of days or weeks.
Since some body, organization, or entity is now receiving the approximately $100 billion per month that the government now overspends, it would probably be the surest bet in Vegas that once that money stops, the politicians will suddenly be under immense pressure to put the funding back in place, even by many who previously had been in favor of cutting spending – they just didn’t realize it would be spending they receive.
The other option is that the Senate and Congressional leaders put a bipartisan bill through that passes both the house and senate and the president signs. This may still happen, even with the loudest of objections at the moment.