Topline
As the 118th House kicks off official business, lawmakers are set to embark on a contentious showdown over federal government spending and the nation’s debt limit—an issue many experts believe could push the government to shut down for the first time in nearly five years, halting critical services and in the most severe outcome, risking a historic U.S. debt default.
Key Facts
Government spending deadlines will “pose a greater risk this year than they have for a decade,” Goldman Sachs economists led by Jan Hatzius warned in a Monday note to clients, pointing to the divided Congress as a complicating factor for crucial legislation, with an “extremely thin” margin of Republican control in the House and a two-vote lead by Senate Democrats.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.