As GOP blocks, Biden escalates warnings of US default

By LISA MASCARO, JONATHAN LEMIRE and KEVIN FREKING
Associated Press

WASHINGTON (AP) — President Joe Biden is escalating his campaign to get Congress to lift the federal debt limit. He will host business leaders at the White House on Wednesday and is warning that failure to extend the government’s borrowing authority could set off a global financial crisis. The new pressure comes amid talk that Democrats may try to change Senate filibuster rules to get around Republican opposition. But Democratic Sen. Joe Manchin  reiterated his opposition to such a move Wednesday, likely taking it off the table for Democrats. The White House warns that if the borrowing limit isn’t extended, that could send “shock waves through global financial markets.”