Politico Morning Money: Wall Street takes a hit
Wall Street takes a hit — Markets continued to take some blows with Wall Street indices dropping around 2 percent largely over concern about global fallout from a potential default by Chinese real estate giant Evergrande. That’s not the only thing bothering investors as concern rises over fiscal fights in the U.S. on government spending and raising the debt limit.
GOP RECENT HISTORY ON THE DEBT LIMIT — Kyle Herrig, president of Accountable.US: “During the Trump era, Republicans in Congress never blinked when suspending the debt ceiling over and over and doling out trillions of dollars in tax breaks to millionaires and big corporations — giveaways that never trickled down to anyone else.
“Now, these Republicans are promising to hold the process hostage and keep the nation from meeting its obligations even though 97% of the current debt was incurred before Joe Biden became president.”