This article deals with the passing of the piece of
legislature that suspended the Treasury’s borrowing limit. There was some controversy with the passing
of this law through the senate as some GOP candidates created a filibuster. This filibuster was broken as a vote by the
democrats and some select republicans, including Senate Minority Leader Mitch
McConnell. The importance of needing
this legislation passed came from the closing deadline, in which the US would
again go over the approved debt ceiling.
At the same time the stock markets had been fluctuating and creating a
downturn which stems from the expected impact of going over the debt
ceiling. In addition this is believed to
bring about issues with the elections for certain GOP candidates because of the
traditional view of the GOP.
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