Republicans are digging in on the federal debt limit, warning Democrats that it will be up to them to avoid a default as President Biden pushes for trillions more in spending, The Hill reported. GOP senators are taking a firm line as Democrats plot a path for their $3.5 trillion spending measure, which the party plans to pass with budget reconciliation rules that will prevent the GOP from blocking it with a filibuster. Given those plans, GOP senators say they won’t lift a finger to help Democrats raise the debt ceiling. “I’m not sure why there’s much of an incentive right now given what the Democrats are doing, trying to run roughshod over the minority in the Senate, to help them,” said Sen. John Thune (S.D.). Thune added that if Democrats are going to use a go-it-alone approach to push through a sweeping spending package, which is expected to include other priorities like immigration reform, then Republicans believe "the debt limit can ride on it and they can own it all." The government will reach its spending limit on July 31, though the Treasury Department will be able to shuffle funds for an additional period to prevent the U.S. from breaking the ceiling. Actually doing so would cause a severe disruption to markets and the economy, as the U.S. government would be unable to meet demands from its creditors and pay its bills.
