'It could all go terribly wrong': Congress is bracing for the next fiscal cliff
A looming battle between President Donald Trump and Democrats over government spending and the debt limit could make the 35-day government shutdown look like a blip.
But the White House, focused on Trump’s reelection bid, is resisting talk of another massive deal that could cost as much as $350 billion over two years. Administration officials, led by Treasury Secretary Steven Mnuchin, are instead pushing for a “clean” debt ceiling hike that extends the federal borrowing limit without making any other policy changes.Sign Up
By September, lawmakers could be faced with a fiscal cliff rivaling that of 2011, when another divided government nearly defaulted on its debt.
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