How Biden and Americans would benefit if president signs House Republicans’ debt ceiling increase bill

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House Republicans’ debt ceiling increase bill, the Limit, Save, and Grow Act, gives President Joe Biden the means to reverse our economic woes and create $2.7 trillion in wealth in the marketplace. All the president has to do is put partisanship aside and say OK to very good legislation.  

If Biden doesn’t sign the bill or refuses to negotiate, the economy will take a hit. But as former Senate Banking Committee ranking member Pat Toomey pointed out last week, there is no chance any U.S. bond will not be paid in full. If there is a technical default, experts expect bond prices to actually rise due to a “flight to quality” and move away from Treasuries to highly rated private sector corporate and municipal bonds. We predict this could result in a 1-2% increase in bond values. 

If Biden doesn’t sign the bill or negotiate, there will be some chaos and uncertainty in the equity markets. In the end, we predict that stocks would be down 2%. Given the current $45 trillion in capitalization, the loss would be about $900 billion.

Biden’s refusal to negotiate on the debt limit is an unpopular position, according to a recent poll from WPAintelligence,

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