There is a famous 1972 kid’s book called Alexander and the Terrible, Horrible, No Good, Very Bad Day. The title, at least, seems to have become the playbook for the debt ceiling debacle currently unfolding far too slowly.

Examining best guesses on potential outcomes is the closest thing to scenario planning possible. There are two broad categories: President Biden and House Republicans secure a deal, or they don’t.

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Erik Sherman

 

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