The House speaker, Kevin McCarthy, is caught between his party’s moderate and far-right factions. Angry at the size of the government debt, House Republicans have passed a bill that ties spending cuts to any lifting of the US’s debt limit. A tense fight is escalating, with Democrats refusing to budge and hard-line Republicans digging in. Without a solution, economists and others warn, the US could be plunged into an “economic catastrophe” .
You can be forgiven a sense of déja vu. This has all happened before. Only this time, it could be worse.
The federal government has a legal maximum on […]
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