Treasury Secretary Janet Yellen discuss why it would be "catastrophic" if lawmakers didn't raise the debt ceiling. #CNBC #CNBCTV

"The aim of this obstruction is to force Democrats to raise the debt limit through the budget reconciliation process. Passing a debt-limit hike through a reconciliation bill is a bit of an ordeal. The process requires Democrats to pass a new budget resolution and then a new budget reconciliation bill — both of which would be subject to unlimited votes on amendments in the Senate. During such “vote-a-ramas,” Senate Republicans would have the opportunity to force vulnerable Democratic members to take votes on various wedge issues that could be used against them in future campaign ads. Altogether, this process could take nearly two weeks to complete. And although it would not directly effect Democrats’ impending Build Back Better reconciliation bill, it would chew up precious legislative calendar time that could otherwise be devoted to Biden’s signature legislation. As a consequence, Senate Democrats might be forced to cancel their October recess." Read more.