By autumn 2024, the overall debt of the federal U.S. government to its creditors exceeded $35.7 trillion. That’s $106,000 per every American.
Republicans do not have much to gain from this power struggle other than small territorial gains.
The debt ceiling farce is just a microcosm of the polarization of American political life and the deterioration of the political ecology.
Observers who support the administration's position are calling on Biden not to succumb to conservative blackmail.
To its credit, the new $40 billion U.S. support package for Ukraine includes $7-8 billion in grant aid for the Ukrainian budget.
Those who labeled and tried to stigmatize the Obama administration as socialist are the very people whose livelihood was preserved by the economic decisions of an administration simply doing its job.