Will it take market crash for Congress to raise debt limit?

WASHINGTON (AP) — There's one way to force President Joe Biden and Congress to solve the looming crisis over the debt limit: a financial market crash. 

“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.” 

It is a familiar ritual. But every other time before, Congress has found agreement on the debt limit. The question now, in a period of ever-increasing political polarization, is whether today is different.