GOP, Dems maneuver for high-stakes clash over debt ceiling

By Erik Wasson – Debt-ceiling politics are back in full force.

House Democrats on Monday blasted Republicans for moving forward with legislation to prioritize debt payments in the event that the nation’s debt ceiling is exceeded. They said the GOP maneuver is a clear sign that a repeat of the brutal 2011 fiscal confrontation is looming.

The $16.8 trillion national borrowing limit has been suspended until May 19. Once the limit goes back into effect, the Treasury Department will have a matter of weeks before it can no longer avoid being unable to meet some payment obligations. more>



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