Democrats indicate short-term debt ceiling increase approved

Democratic Senator Chris Coons, a close ally of President Biden, told CNN that while the caucus was still meeting, his overwhelming impression was that Minority Leader Mitch McConnell had blinked and Democrats would look to push ahead with a short-term increase of the debt limit.

Coons, however, warned that Democrats would not increase the debt limit using reconciliation, even if they kick the can down the road.

He also suggested that Democrats were not exactly clear how much the debt ceiling would have to be increased by and that they are waiting for an estimate from the Treasury Department or the Congressional Budget Office.