By John Persinos
"Cut the green wire!" Beads of sweat on the brow; close-up of nervous eyes; suspenseful music in the background; tentative snip with a wire cutter. Bomb stops ticking; sighs of relief.
That sort of scene is a cinematic cliche, but that's figuratively what transpired this past Memorial Day holiday, as President Joe Biden and House Speaker Kevin McCarthy (R-CA) announced a last-minute deal to raise the debt ceiling and avert blowing up the economy and stock market.
The deal struck over the three-day weekend would suspend the $31.4 trillion debt ceiling until January 1, 2025, allowing the U.S. government to pay its bills.
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