There are lots and lots of reasons why the nation is looking down the barrel of a catastrophic debt default, in which for the first time ever one of the major political parties is actively working to make it happen. There’s also a lot of blame to go around. Most of it goes to the author of this whole political strategy, Mitch McConnell, but he had help along the way.
Let’s start with the fact that when Democrats had the chance to avert this by dealing with it in the lame duck session of the last Congress—when they knew the House GOP was going to do this—they did not. They didn’t because they couldn’t, because of two people: Joe Manchin and Kyrsten Sinema, the Democrat and former Democrat whose purpose in politics is making sure we can’t have nice things. We also knew that was the case even before the midterm election. No one said out loud during November and December “we can’t do a reconciliation bill to fix the debt ceiling because Manchin and Sinema won’t let us,” but they didn’t have to say it out loud.
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Leadership made a choice. It wasn’t an easy one and they did the right thing in passing the omnibus spending bill for this fiscal year so that at least they could avert a government shutdown until October (when the next government funding bill is due and when it will not have been passed). They put all their energy and political capital into that bill and using regular order to get it through. It could have been instead combined with a debt ceiling solution and passed in the last shot the Democrats had at budget reconciliation, the process that allows a funding and/or revenue bill to pass in the Senate with just 51 votes. They talked about doing that in 2021. Manchin balked then, finally coming around after months of talks to embrace a bizarre process in which the filibuster was waived for one time only for this single debt ceiling bill.
That wasn’t likely to work again with Manchin. For one thing, even before the election he was embracing the GOP’s economic terrorism. A week before the election, Manchin was speaking at a Fortune CEO conference, bemoaning the nation’s “crippling debt,” saying that Social Security, Medicare, Medicaid, and other programs are “going bankrupt,” and Congress was going to have to do something about it: “If we can’t come to grips of how we face the financial challenges this country has, then we’re all going to be paying a price that we can’t afford.”
That something, he was likely thinking, was another shot at a grand bargain attempt to slash social insurance program spending. As usual, Sinema was too busy planning her personal and professional future to weigh in on critical things like having a functioning government, but based on past experience, she wasn’t going to endorse the idea of Democrats using the “partisan” procedure of budget reconciliation to save everything, either.
But let’s go back a little further to the asshole who decided weaponizing the full faith and credit of the United States would be fun, along with stealing the Supreme Court. Yep: Mitch McConnell.
This was in the 2011 round of debt ceiling negotiations, when the Tea Party had come to town to repeal Obamacare and when McConnell decided it would be fun to play ball with the maniacs. He did, and he created this hostage. Knowingly. Happily. “I think some of our members may have thought the default issue was a hostage you might take a chance at shooting. Most of us didn’t think that. What we did learn is this—it’s a hostage that’s worth ransoming. And it focuses the Congress on something that must be done,” he told The Washington Post.
He didn’t want to shoot the hostage, but he knew there was a hunger for doing precisely that among Republicans. And he applauded it, promising that it would happen again. “Never again will any president, from either party, be allowed to raise the debt ceiling without being held accountable for it by the American people and without having to engage in the kind of debate we’ve just come through,” he said on the floor. Which of course was a lie. It was raised during the Trump administration in 2017 and 2019. Without a fight.
That, by the way, is all there is you need to know about Republicans and the deficit and debt. They truly don’t care. A Republican president hiking up both with never-ending wars and massive tax hikes to the rich is absolutely fine. Against a Democratic president, it’s scorched earth.
McConnell opened that previously locked door and the whack jobs stormed through, realizing they had the ultimate weapon to use against the Democrats. McConnell didn’t want to actually deploy it, but it sure seems like he’s not going to stand in the way of other Republicans doing so. The hell of it is he’s got two putative Senate Democrats who think that’s just fine and will help.
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