Debt Ceiling Deadline Much Closer—But No One’s in a Rush
Some Republicans don’t even believe Yellen’s warning.
Good afternoon and welcome to Press Pass, The Bulwark’s twice-weekly dive into Congress, campaigns, and the way Washington works. Today’s edition is exclusively for Bulwark+ members, so make sure to sign up if you want to read it, along with access to other exclusive content—including tonight’s Thursday Night Bulwark at 8 p.m. ET. JVL, Eric Edelman, and Cathy Young will be discussing the latest developments and coming spring offensive in Ukraine.
Today’s newsletter focuses on the continuing clash over the debt limit and the increasingly realistic possibility of a default on the national debt. When Treasury Secretary Janet Yellen issued a new deadline this week, I got a whiff of skepticism from some Republicans. After asking around, I think things might not be on the best track. That and lots more below.
House Republicans left town last week after they passed their Limit, Save, Grow Act last week. The bill’s passage finally prompted President Joe Biden to make some calls and he is now engaging Republicans, inviting leadership from both chambers to the White House for negotiations on May 9—next Tuesday.