If he doesn’t, Republicans in Congress will use it as a bargaining chip to destroy good programs.
Biden's rejection of eliminating the debt ceiling was a dangerous gaffe, and now he has to correct it before it's too late https://t.co/M2HjcAnd3r
— Jonathan Chait (@jonathanchait) October 25, 2022
To summarize:
— Will Stancil (@whstancil) October 21, 2022
1. If the GOP wins the House it can use the debt ceiling to force Dems to choose between an economic crash and massive program cuts
2. The GOP already did this in 2011, so we know they will
3. Democrats can unilaterally stop them, but are afraid of attack ads pic.twitter.com/YneSCmstBG
If the GOP wins control of Congress on 11/8, you'd have to be an idiot not to raise the debt ceiling and take the issue off the table for 2023/24. It's the right move politically and economically.
— Nate Silver (@NateSilver538) October 21, 2022
Unfortunately, though, we're talking about Congress, so there are lots of idiots. https://t.co/3frBrM207p
The debt ceiling has nothing to do with fiscal responsibility. It doesn't control how much Congress takes in or how much it spends.
— Justin Wolfers (@JustinWolfers) October 21, 2022
Rather, it says: Once we hit this limit, we'll stop paying our bills, including our debts.
It's a fiscal time bomb. Keeping it is irresponsible. https://t.co/3W7uK24iYC
Finally: A group of House Democrats is pressuring Dem leaders to disable GOP debt limit extortion during the lame duck. As one Dem tells me, it's insane to expect that a Speaker Kevin McCarthy will buck Trump and the MAGA caucus on this. Disarm them, Dems.https://t.co/EKPplPC2bj
— Greg Sargent (@ThePlumLineGS) October 21, 2022
SCOOP: The Biden administration is in early, quiet discussions with key Senate offices about raising the debt ceiling in the lame-duck session of Congress. https://t.co/fWz2qNdKCu
— Axios (@axios) October 25, 2022
I think this is correct. If Republicans trigger a global depression by breaching the debt ceiling, voters are likely to blame the incumbent Democratic president and elect a Republican supermajority.
— Ian Millhiser (@imillhiser) October 25, 2022
The American system of separation of powers is very, very bad. https://t.co/lniKq4eygj
Sad! 