2023-06-03 05:00:00
You have to hand it to Joe Biden: he may stumble occasionally, but he’s a master of politics. The deal with the Republicans to raise the debt limit, which was fixed in the Senate on Friday night, prevents a financial calamity of global dimensions that might have cost the US President his re-election. Biden’s Democrats made few concessions to avert state bankruptcy and saved most of their economic policy reforms over the past two years. In view of the radical demands of the Republicans, this might have turned out differently – with massive setbacks for social and climate policy or the actual occurrence of insolvency.
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