Debt Ceiling Drama: Washington's Funding Face-off

Washington faces a potential federal government shutdown due to a debate over the debt ceiling. President-elect Donald Trump insists on tying the debt ceiling suspension to government funding, but a House proposal failed. Tensions rise as lawmakers navigate this financial crossroads amid political maneuvering.

Washington is teetering on the edge of a federal government shutdown as debates heat up over the debt ceiling. This longstanding fiscal dilemma has become a political battleground, largely due to President-elect Donald Trump's insistence on linking the debt ceiling suspension to government funding.

A revamped proposal in the House, which aimed to suspend the debt ceiling for two years, failed to pass. With the federal debt standing at around USD 36 trillion, the urgency of resolving this issue is palpable. Yet, political tensions are high, and next steps remain uncertain.

For Speaker Mike Johnson and other key players, the stakes are elevated. While Republicans grapple with internal discord, Democratic Leader Hakeem Jeffries firmly rejected aiding Republicans in their efforts, further complicating the path forward. The outcome remains crucial for the nation's financial health.

(With inputs from agencies.)