President Joe Biden in a speech Monday urged Congress to raise the country’s debt ceiling to avoid defaulting on the money it owes for the first time ever. “Defaulting on the debt would lead to a self-inflicted wound that takes our economy over a cliff,” he said in a White House live stream from the State Dining Room. Congress has until an Oct. 18 deadline to increase the nation’s limit on what it allows the Treasury to borrow. The limit was suspended three times during the Trump administration and has been raised dozens of times since its creation at the start of World War I. Biden blames Republicans for the inaction to raise the limit now, saying they are obstructing a vote with the use of the filibuster and “playing Russian Roulette with the U.S. economy.” Senate Minority Leader Mitch McConnell (R-Ky.) and other Republicans have voiced opposition to raising …
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