House Speaker Nancy Pelosi (D-CA) on Sunday reiterated her criticism of Republicans’ brinksmanship on the debt ceiling amid their refusal to help their Democratic colleagues with suspending it, despite having voted to raise the debt ceiling throughout the Trump administration.
They need to eliminate the debt ceiling altogether, and end this farce.
Otherwise Republicans are going to hang the trillions of dollars that Trump created around Democrats’ necks, which is what this theater is really all about.
If it comes down to the wire, with Republicans still refusing to do the only right and legal thing, Biden is going to have to exercise his pryesidential power to unilaterally ignore the debt-ceiling and order to Treasury to continue paying what the nation owes. As the Fourteenth Amendment orders, “the validity of the public debt of the United States, authorized by law,…shall not be questioned.” If Biden clearly explains this on a national broadcast, the public will support his decisive action.
And this is a moment crying out for the Senate to abolish the filibuster and repeal that stupid, unnecessary, and now dangerous 1917 law providing for periodic upping of the debt ceiling. No other advanced country has such a law. It’s nothing but an invitation to McConnell to play his vicious political games that hold us all hostage.
The GOP, as Josh rightly points out, is threatening the financial default of an ostensibly developed nation. They see the minor cost of perhaps $10 billion for a 3-4 week shutdown, but the costs of default could actually be much larger. Discussion of a US default also gives developing nation China cover by drawing attention away from the Evergrande collapse and China’s debt-to-GDP ratio nearly as high as that of the US. The economic analog is the Catholic plot to blow up England’s parliament in 1605. History will mostly remember the GOP effort to blow up democracy, successful or not. Maybe in some future dystopia people will burn a “Kevin” in effigy to celebrate the destructive tendencies of a political party with fireworks. Kevin McCarthy really is a “Guy.”
People (populations) who are essentially not cruel can and should have a collective sense of righteous anger when things are getting better. That sounds menacing but it really isn’t.
The GOP is working assiduously on enervation of our collective enthusiam.
The bills we have before Congress are transformative.
The GOP–to combat that–creates a crisis of the Debt Ceiling.
I wish I had the ability to stop Trump World from doing what I alluded to in my last post.
Just like guerrillas utilize their opponents’ strengths, so does Trump World
(1) Modern Communications…to spread lies
(2) Modern Systems of Justice…to take advantage of glacial legal processes
(3) Modern Capitalism…to use organs like FOX, which rake in $$$$$ for propaganda
(4) Modern heterogeneity…in which a nativist sector can declare war on other sectors
I could go on…but most of these destroyers of our way of life are NOT Godzilla-like monsters, but, rather nameless, faceless, moral-less little men working for a paycheck and making payments for household expenses and college for the kids, like men working in any industry, organization, social institution.
Have Texas and Florida seceded from the US, yet? Asking for Sam, my uncle, who would like to move some fence. The congressional Democratic majority would be bigger.
If Republican politicians don’t want to be part of the civilized conversation, they can get the hell out. Their states too. America, love it or get the hell out. The conservatives used to say that. So they understand. Used to be, some conservatives thought that before giving away your income (taxes) you made sure current and future obligations have been met. Not today’s Republicans.
They can’t secede. There is no mechanism by which to do that and we fought a bloody war that settled that question. States do not have that power or authority.