Treasury Secretary Janet Yellen said on Friday the U.S. is projected to reach its roughly $31.4 trillion borrowing limit on Jan. 19. In a letter to Speaker Kevin McCarthy (R-CA) and other congressional leaders, Yellen said the Treasury Department will begin taking “extraordinary measures” starting next week to prevent the U.S. government from defaulting on its obligations.
A party that does not believe in government is not a party that will agree the debt limit is a “basic item” relevant to their duty much less an obligation.
This was entirely predictable and there will be conditions most of which will likely range from the delusional to the completely idiotic.
For the GOP the dept ceiling is usually a chance for brinkmanship theatre. Despite the risks of default, I’d imagine this year will be no different.
Just ignore it and let anyone who doesn’t like it sue. Can’t anyone here play this game?
What a country.
Fourteenth Amendment:
“The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.”
Next!
Biden administration to House republicans:
Put up or shut up.
What do you call hostage takers again? Oh, yeah, terrorists.
Release the Coin!
It depends how much you can be terrorized. The Biden administration seems fairly calm (especially since it saw this coming).
So they passed a CR in the last congress but not debt ceiling? Let me guess, Manchin?
How long before McConnell and the money puts the hammer on Qevin?
There’s only one amendment that counts, and that’s the second.
You do realize these cretins have a tough time getting beyond the Fifth Amendment and they are afraid of the Fourteenth Amendment.
I prefer hijackers in this case. Janet Yellin is in the control tower, warning them to change course. They appreciate her confirmation that they are about to crash.
Yellen: Do not burn down the economy.
Republican Representatives: Ho-hum. A woman is talking. Hey, look at this neat investment trick for leveraging campaign donations. Totally legal.
One of the problems here is that the GQP has headline-style demands but afaik no actual text of bills to go with those demands.
So they’re not going to force the US into default because of a specific set of demands – embodied in a passed bill sent to the senate – that aren’t met, they’re more likely to force the US into default because they can’t effing get it together to pass anything. (Remember that the rules also allow, apparently, for an infinite number of amendments.)
“Democrats want to move quickly to pass legislation addressing the debt limit so there is no chance of risking a catastrophic default.”
And yet they could have done this themselves in the Lame Duck session, right???
Biden has a constitutional obligation to pay our bills, and Congress has passed several laws that Biden and the executive branch must follow that requires spending. Therefore, since the choice seems to be between breaking one law or another, I suggest that the executive branch declare the law that is unconstitutional unconstitutional and break that one. I seriously fail to see the problem here and why my position isn’t the automatic position of the executive branch.
Yes, maddening that this didn’t happen when everybody knew this was coming. As somebody else posits above, Manchin may have been the stumbling block on the Senate side, though iirc there were reports that several other Democrats were squeamish about it as well. 
We have nothing to worry about. There is no plan.