Democrats Claim Victory After McConnell 'Blinks' On Short-Term Debt Limit Hike

Congressional Democrats are considering Senate Minority Leader Mitch McConnell's offer of a short term debt limit hike a victory - with Sen. Chris Coons telling CNN that McConnell had 'blinked' and that Democrats would likely take him up on the offer to extend the ceiling until December.

Upshot: Senate Democrats say theyll accept short-term increase of debt ceiling but will NOT use budget process for long-term hike.

Update: In a Wednesday statement, McConnell slammed Democrats for having "Drifted to the doorstep of yet another self-created Democrat crisis," adding "Whether through miscalculation or a deliberate effort to bully their own members into wrecking the Senate, top Democrats have risked adding a default crisis to the inflation crisis, border crisis, and Afghanistan crisis they have already created."

"To protect the American people from a near-term Democrat-created crisis, we will also allow Democrats to use normal procedures to pass an emergency debt limit extension at a fixed dollar amount to cover current spending levels into December. This will moot Democrats excuses about the time crunch they created and give the unified Democratic government more than enough time to pass standalone debt limit legislation through reconciliation."

To protect the American people from a near-term Democrat-created crisis; we will also allow Democrats to use normal procedures to pass an emergency debt limit extension at a fixed dollar amount to cover current spending levels into December.

NEWS: MCCONNELL floated a short-term debt limit increase through NOVEMBER - aka lifting the limit until December.

3) McConnell has told Democrats repeatedly the past few days that they should use the filibuster-proof reconciliation process to suspend the debt ceiling.
 

https://www.zerohedge.com/markets/manchin-digs-wont-budge-15-trillion-top-line-reiterates-opposition-filibuster-carve-out