Why not? It's the rule that each President must shut down the government at least once during his/her time in office.
Unless there is a "genuine" default... where the government says, "we're not going to pay on our obligations"... then it's all Kabuki theater.
I dismiss the entire thing as a "tempest in a teapot".... all posturing for political gain and greed... but nothing material comes of it in the end.
I don't believe that congressional Republicans will ultimately cause a default. While the "Freedom" Caucus appears to be insane enough to blow up the economy. My assumption is that there are at least 5 sane Republicans in congress who will vote with Democrats on the discharge petition. It's also possible that courts will rule the debt ceiling unconstitutional for a number of different reasons (see NAGE lawsuit in Massachusetts).
%% THAT'S about the way i figure it/ i did wonder if Ken G of Citadel was right \public forecasting increased vol....as the JUN 1sT or 15tH deadline get closer??LOL Maybe. I wonder if he read the book\ Red Sea Rules. ??????,???? I wondered also with US insane r+ d spending levels, for decades even with a VErY High probability of making a deal + gets done; would US debt get another downgrade in next 52 weeks also??Most likely; but rpivate sector business is not hostage to that nonsense, even with increased vol............ Wave After Wave/ song >22,o777,0o0 million video views\Pat Green Motown Records. US state dept issued a good stay away from Red Sea warning 2023; one gentleman snickered ''there goes my vacation plansLOL''