Joe Biden urges Congress to raise debt ceiling, warns of default
President Biden on Monday urged Congress to raise the debt ceiling, blaming Republicans for the impasse and warning of a potential economic calamity if the U.S. defaults on its financial obligations for the first time in history. “The United States is a nation that pays its bills and always has from its inception. We have never defaulted,” Mr. Biden said in remarks from the White House. Mr. Biden accused Senate Republicans of playing “Russian roulette” with the economy by threatening to use their filibuster power to block Democrats from raising the debt limit. The president described the Republicans’ position as “hypocritical, dangerous and disgraceful.” The U.S. is fast approaching the Oct. 18 deadline to raise the cap on the maximum amount of money the government can borrow to pay its bi...