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There are not enough economic reasons to believe that the U.S. chance of default has gone up in any significant way. The reasons are political.

Editorial cartoonist Dave Granlund draws on the Republican Kevin McCarthy position on the U.S. debt ceiling.

From the letter: Rep. Fischbach and other Republicans in Congress cannot deny that Congress avoided default and increased the debt ceiling three times under the previous White House occupant, Donald Trump, to pay for massive tax cuts that benefitted billionaires, drove up the debt significantly, but never helped the economy and average Americans like me.

From the editorial: Mr. Biden needs to adjust to the new reality. Democrats lost the House in November. If he truly wants to avert a default, the president has no choice but to work with the opposition. Republicans have put a proposal on the table that has popular support.

A US default may destabilize the global economy with a series of domino effects, Sergio Rossi, professor of macroeconomics and monetary economics at the University of Fribourg, Switzerland, told Sputnik.