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Debt ceiling: 2011 showdown leaves lessons for Biden, GOP

FILE - The Treasury Department is seen near sunset in Washington, Wednesday, Jan. 18, 2023. Lessons learned from the debt ceiling standoff more than a decade ago are rippling through Washington. Back in 2011 the debate around raising the debt ceiling was eerily familiar. Newly elected House Republicans were eager to confront the Democratic president and force spending cuts. (AP Photo/Jon Elswick, File) FILE - Senate Majority Leader Harry Reid of Nev., center, speaks on Capitol Hill in Washington on Aug. 2, 2011. From left are, Sen. Charles Schumer, D-N.Y., Reid, Sen. Patty Murray, D-Wash., and Senate Majority Whip Richard Durbin of Ill. Lessons learned from the debt ceiling standoff more than a decade ago are rippling through Washington. Back in 2011 the debate around raising the debt ceiling was eerily familiar. Newly elected House Republicans were eager to confront the Democratic president and force spending cuts. (AP Photo/J. Scott Applewhite, File) FILE - Congressional Progressive Caucus co-chair, Rep. Raul Grijalva, D-Ariz., center, expresses his disapproval of the debt ceiling agreement during a news conference on Capitol Hill in Washington, Aug. 1, 2011. Listening at back are Rep. Barbara Lee, D-Calif., left, and Rep. Maxine Waters, D-Calif. Lessons learned from the debt ceiling standoff more than a decade ago are rippling through Washington. Back in 2011 the debate around raising the debt ceiling was eerily familiar. Newly elected House Republicans were eager to confront the Democratic president and force spending cuts. (AP Photo/Manuel Balce Ceneta, File) FILE - House Speaker John Boehner of Ohio walks to the floor to vote on a plan to raise the debt ceiling on Capitol Hill in Washington, Aug. 1, 2011. Lessons learned from the debt ceiling standoff more than a decade ago are rippling through Washington. Back in 2011 the debate around raising the debt ceiling was eerily familiar. Newly elected House Republicans were eager to confront the Democratic president and force spending cuts. (AP Photo/Susan Walsh, File) FILE - Rep. Tom Reed, R-N.Y., center, is joined by other members of congress outside the White House in Washington, July 19, 2011, after releasing a letter to President Barack Obama urging him to deal with the debt ceiling crisis. Lessons learned from the debt ceiling standoff more than a decade ago are rippling through Washington. Back in 2011 the debate around raising the debt ceiling was eerily familiar. Newly elected House Republicans were eager to confront the Democratic president and force spending cuts. (AP Photo/Pablo Martinez Monsivais, File) FILE - Then-House Majority Whip Kevin McCarthy of Calif., right, joined by House Majority Leader Eric Cantor of Va., speaks to reporters about President Obama's debt reduction plan and other issues, on Capitol Hill in Washington, on Sept. 20, 2013. Lessons learned from the debt ceiling standoff more than a decade ago are rippling through Washington. Back in 2011 the debate around raising the debt ceiling was eerily familiar. Newly elected House Republicans were eager to confront the Democratic president and force spending cuts. (AP Photo/J. Scott Applewhite, File)