MarketWatch First Take: Debt limit looks like a real struggle after health bill debacle

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Vice President Mike Pence (left) departs a Republican policy lunch with Ohio Republican Sen. Rob Portman in February.

The annual wrangling around the debt limit was set to disappear, pundits thought, since Republican control of both the executive and legislative branch would effectively make any showdown over such a silly exercise an own goal.

That’s the current view in the Trump White House at least.

“We’ve spent the money. The concept of the debt limit is somewhat of a ridiculous concept,” said Treasury Secretary Steven Mnuchin on Friday. “I am hopeful that this something Congress addresses before the [summer] break. I think everybody understands we need to raise the debt limit, and that’s something we’re going to do.

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