EconomyMcHenry Warns a Debt Showdown Could Rattle Treasuries Even More

A former chairman of the House Financial Services Committee, Patrick McHenry called on the GOP to take up the borrowing limit while it still controls Congress and the White House. He characterized Republicans as playing defense in the 2026 midterms, with campaign dollars gravitating to contests the party sees as most in need of protection. McHenry said Democrats could make the issue a bargaining tool the following year, while a fresh impasse could strain the Treasury market more severely than the 2023 clash.