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Executive Summary:

  • A short-term federal debt limit hike is emerging as a likely option to offset a default as time threatens to derail negotiations between Democrats and House Republicans.
  • Biden Administration officials are exploring several alternative pathways to escaping a default including a 'motion to discharge' and a controversial constitution loophole based on a 14th amendment clause.
  • There is also the faint prospect of a conventional political solution. White House Press Secretary Karine Jean-Pierre hinted yesterday that Biden may soften his position in the May 9 White House meeting with Congressional leaders.
  • Senator Diane Feinstein (D-CA) may return to Washington next week after a prolonged medical absence.
  • Former Maryland Governor Larry Hogan (R) has ruled out running for the Senate seat of outgoing Democrat Senator Ben Cardin (D-MD) in 2024.
  • US Ambassador to China, Nicholas Burns, has called for better channels of communication between the US and China.
  • Poll of the Day: Participation in midterm elections dropped nearly 4 percent from 2018 to 2022.

Please find the full article attached below:

MNI POLITICAL RISK ANALYSIS - US Daily Brief 03-05-23 .pdf

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