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President Biden is pushing hard for an extension of the federal debt limit.
Speaking at the White House, Biden said he hopes he can have an honest conversation with Senate Minority Leader Mitch McConnell about breaking the impasse.
The Kentucky Republican recently wrote to the President arguing Democrats have pursued an aggressive and expensive go-it-alone strategy all year and can raise or extend the debt ceiling without Republican support.
The President warned a failure to take action on the debt limit by October 18th could have catastrophic consequences for the entire economy.