President Biden said monday he cannot guarantee that Congress will raise the debt ceiling before the United States defaults, triggering an unnecessary financial crisis, because “that’s up to Mitch McConnell.” Senatorial Minority Leader McConnell (R-Ky.) Insists Democrats are raising the debt limit themselves, but the Senate GOP is obstructing all attempts to do so.
“They must stop playing Russian roulette with the American economy”, Biden said on Monday. “Republicans just have to let us do our job. Get out of the way.” He called McConnell’s strategy “hypocritical, dangerous and shameful,” noting that Democrats voted with Republicans for increase the debt ceiling three times under former President Donald Trump, even as his spending rises and the GOP’s tax cuts alone have resulted in $ 8 trillion in new debt.
So why don’t Republicans just filibuster the bill and let Democrats pass it on their own?
Senator Roy Blunt (R-Mo.) told reporters on Monday that 45 Senate Republicans would probably agree with that, but five or six would insist on an obstruction. Senator Susan Collins (R-Maine) noted some of his GOP colleagues would even vote to lift the debt ceiling if Democrats ditch their big omnibus package, the centerpiece of Biden’s economic agenda.
Senator John Cornyn (R-Texas) probably got close to the goal, telling CNN’s Manu Raju “There is no reason for us to help facilitate a bad policy that we do not agree with, and therefore they have to eat little time on the floor to exceed the debt ceiling through reconciliation, which suits me. “
McConnell noted On Monday, he gave Democrats “a roadmap and three months’ notice” to use the cumbersome budget reconciliation process to raise the debt ceiling with 50 filibuster votes, and “I suggest that our colleagues set in motion “. And the Democrats can use the reconciliation process, probably, if they start early enough and the Republicans don’t block it in the Senate Budget Committee, The Wall Street Journal Explain. But it would take a long time and force Democrats to raise the debt ceiling of a determined amount, not suspend it until a specific time.
Democrats are loath to waste time and scare the financial markets, but Biden “wasn’t ruling out options,” White House press secretary Jen Psaki. clarified Monday.
“Not said on all sides but deserves to be underlined”, Politics Remarks: “Having a debt ceiling, which does nothing to accomplish its original goal of limiting public borrowing but which regularly leads American politicians to flirt with economic catastrophe, is stupid.”