"I'm grateful that their brinksmanship strategy didn't work," Schumer said on the Senate floor following the vote, praising Democrats for coming together against Republicans who were blocking. "What is required now is a solution that is long-term so that we don't get caught in the same drama each and every month."
Prior to Wednesday, Republicans remain steadfast on their insistence on not helping Democrats raise the debt limit. They claimed they don't want to allow Democrats more leeway to approve spending bills. The debt limit was likely to be increased no matter what Democrats' future policy.
Republican leadership was confronted by a furious caucus Thursday in advance to the election.
"I think that it's a mistake make the deal in this manner," Senator. Ted Cruz (R-Texas) said to reporters. "Two weeks ago Republicans were united in that we were all on the same line, we were united and stating that Democrats were the only ones with the power to increase the debt ceiling... The Schumer administration was close to giving up.
"And Unfortunately, the deal offered was an opportunity for Schumer to live, in the event that I disagree with that conclusion," Cruz said, admitting that Schumer had won the game of chicken.
The extension of the limit on debt is likely to last until December. 3. At that time when the Treasury Department will have to once more resort to drastic measures to borrow funds and pay for the national debt until Congress increases it again.
McConnell declares that Democrats need to come up with an alternative to the problem independently. Particularly, Republicans have said Democrats should push for it through the reconciliation procedure, which is a budgetary tactic that permits the Senate to approve legislation with an easy majority. This process, however is lengthy in terms of procedure and offers Republicans many chances to gain political points.
Democrats have accepted McConnell's short-term plan immediately on Wednesday and declared victory. However, they stated they wouldn't push for an increase in the debt limit by reconciliation, triggering another debt-related standoff within just two months.
With all the controversy surrounding this vote, it doesn't appear like Republicans will blink a second time.
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