The clock is ticking and nerves are fraying as the U.S. inches closer to a deadline to raise the borrowing limit by the end of the month.
While Senate Minority Leader Mitch McConnell is forced to the sidelines in the tug-of-war between the House and the Biden administration, he’s promised to help guide whatever deal is struck through the Senate and he’s sticking to a mantra – namely that there is already agreement that the U.S. will not default.
"This shouldn't be the hard," the leader told reporters. "Number one, we know we're not going to default. They know it. We know it. We're running out of time."
Yet some Republicans who have expressed skepticism about Treasury Secretary Janet Yellen’s estimate that June 1 is the earliest the U.S. could default.
McConnell has said it’s encouraging that the White House is now “engaging seriously with the only counterpart that can help deliver an actual solution."
