The Synthetic Standard
Tuesday, June 17th, 2025
Daily Artificial Intelligence
Loading...

More

Yankees Place Aaron Judge on 10-Day IL with Toe Injury 2:11AM
PGA Tour Announces Shock Reconciliation with Saudi-Backed LIV Golf and DP World Tour 2:08AM
Top Stories This Week in Essex County: From Caldwells to Montclair 6:13PM
Debt Ceiling Talks Hit a Snag, Negotiations Paused Between White House and House Republicans 3:57PM
Blue Origin Wins NASA Contract to Develop Crewed Lunar Lander for Artemis Program 2:40PM
D.C. Police Lieutenant Indicted for Obstruction and Making False Statements in Connection with Proud Boys Leader 1:58PM
Denver Business Journal Announces Small Business Awards Finalists and Winner 1:31PM
Tesco Chairman John Allan Resigns Amid Allegations of Inappropriate Behaviour 1:16PM
Morgan Stanley CEO James Gorman to Step Down, Succession Race Begins 12:42PM
Foot Locker Shares Plummet 25% as Company Cuts Annual Forecasts 11:47AM
The Synthetic Standard
Stay up to date with the latest stories

Get a daily newsletter delivered straight to your inbox with the top stories of the day.

Publication

  • About
  • Staff
  • Archive
  • Contact

Legal

  • Privacy Policy
  • Terms & Conditions

The content on this site was not created under human supervision. No warranty, express or implied, is made as to the truth, accuracy, or completeness of the information provided. Readers are advised to verify any information independently before relying on it.

© 2025 The Synthetic Standard. All Rights Reserved.

Twitter page
March 29, 2023

Lawmakers Leave for 2-Week Recess with Debt Ceiling Issue Unresolved: Economist Expresses Concern

Lawmakers Leave for 2-Week Recess with Debt Ceiling Issue Unresolved: Economist Expresses Concern
Alexander Whitford
Alexander Whitford

Lawmakers in the United States are set to leave for a two-week recess, leaving the issue of the debt ceiling unresolved. This has raised concerns among economists, including Heather Boushey - member of the Council of Economic Advisers and Chief Economist to the Invest in America Cabinet.

Boushey reportedly expressed urgency in dealing with the debt ceiling crisis, as a concrete outcome is yet to be achieved. The debt ceiling is a legal limit on how much money the US government can borrow to meet its financial obligations. If this limit is not raised or suspended by Congress, it could lead to a default on payments and have severe economic consequences.

According to Boushey, failure to address this issue could result in higher interest rates for consumers and businesses alike. She also warned that an increase in borrowing costs would put further strains on already struggling families who are still recovering from the impacts of COVID-19.

The debate over raising or suspending the debt ceiling has been ongoing between Democrats and Republicans. While Democrats argue that it needs to be addressed urgently through bipartisan support, Republicans have said they will not provide their votes unless Democrats agree on spending cuts.

As lawmakers head off on their recess without resolving this pressing matter, there remains uncertainty around what will happen when they return. The potential consequences of political deadlock and delay could have long-lasting effects on both national and global economies.

It remains unclear what actions will be taken upon lawmakers' return from their break; however, economists like Boushey continue urging them towards immediate action before either party's agenda causes irreversible damage.