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'Taking the ax out': Kentucky's Comer huddles with Elon Musk on shrinking government

The article from McClatchy DC discusses the ongoing debate over the debt ceiling in the U.S. Congress, highlighting the political tensions between Democrats and Republicans. As the deadline to raise the debt ceiling approaches, there's a significant risk of the U.S. defaulting on its debts, which could lead to economic turmoil. House Speaker Kevin McCarthy has been pushing for spending cuts in exchange for Republican support to raise the ceiling, while President Joe Biden and Democrats advocate for a clean increase without conditions. The article outlines the potential economic consequences of failing to reach an agreement, including increased borrowing costs, a possible downgrade of U.S. credit rating, and impacts on global financial markets. It also mentions the historical context, noting that while brinkmanship has occurred before, the current political climate adds uncertainty to the outcome.

Read the Full McClatchyDC Article at:
[ https://www.mcclatchydc.com/news/politics-government/article296610364.html ]