There’s one way to force President Joe Biden and Congress to solve the looming crisis over the debt limit: a financial market crash.
That’s a view held by several economists and a former White House official, mindful that Congress rarely acts unless an emergency forces lawmakers to.
“For that drama not ending in tragedy, key actors have to play their roles,” said Daleep Singh, who was Biden’s national security adviser for international economics and deputy director of the National Economic Council. “Market participants have a lead role of playing the victim. They have to produce pain. They have to produce a sea of red on their Bloomberg screens because politicians need to look at those screens.”