Congress has four months to raise the debt ceiling and avoid a potential global depression. Senate Majority Leader Chuck Schumer (D-NY) believes his party’s arguments can turn House Republicans on the matter.

“The plan is to get our Republican colleagues in the House to understand they’re flirting with disaster and hurting the American people,” Schumer said (per The Hill). “And to let the American people to understand that as well. And I think we’ll win.”

Senate Republicans appear to be on Schumer’s side, as Minority Leader Mitch McConnell (R-KY) is giving no support to his party’s House majority, so far. 

Who’s Not on Board?: Wall Street is not backing the White House’s urgency to raise the limit. “They’re banking on the Treasury department’s ability to prioritize payments so that bondholders keep getting paid with the limited cash available,” Politico reports.

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