This Just In...
The talks are on hold, and that’s probably a good thing. For a whole long list of reasons.
Using the threat of default to enact unpopular policies should never be tolerated. If it is tolerated once, it will happen repeatedly. We’ll be back here every year. Even holding these talks legitimizes this tactic. This is an extension of governing by the minority, by threats to the majority. It can’t stand.
It is also important to not endorse the hypocrisy of freely spending and raising the ceiling under Republican Presidents, but threating economic calamity under Democrats. Participating in this process provides a de facto endorsement of the Republican position.
None of this is necessary, given the ability to recognize the requirements of the 14th amendment and just move on. This is the only permanent solution. It guarantees we won’t be back here again, no matter what happens down the road. Yes, there will be challenges in court. I think the Republican position of trying to force a default on our debts will look pretty untenable, and will only look worse as time goes on.
If this is a Biden negotiating tactic undertaken just to show he’s trying everything, that’s fine. If the Democrats and White House are truly trying to compromise on this, that’s not fine. I guess we have no way of knowing, but there will be a lot of unhappy Democrats if even a small portion of the Republican list of punishments is enacted.
We need a permanent solution to the hostage taking, and we need it now. Friday nights are great times to release surprises. I’m hoping to hear more about the 14th amendment just after beer thirty.
Cheers.