Thursday, November 18, 2021

Remember the Debt Ceiling?

 Remember the debt ceiling?  You know, the thing that could have catastrophic results if we don't raise it?  So why aren't Democrats focused like a laser on raising it?  Why are they so dead set against using reconciliation to pass it by a simple majority?

Personally, I would favor introducing a bill to abolish the debt ceiling altogether.  The Republicans would call he filibuster.  Democrats would take vote to determine that the filibuster does not apply to abolishing the debt ceiling.  The vote would be 50-50 and Kamala Harris would cast the deciding vote.  And that would be it, end of any games of chicken over the debt ceiling.  Since abolishing the debt ceiling would be a one-time event, there would be no effect on the filibuster for anything else.  Most Congressional Republicans would probably be secretly relieved not to have to face any more games of chicken.  Granted, Republicans would denounce this at outrageous fiscal irresponsibility and make a lot of ads on it, but it it would end holding the debt ceiling hostage it would be worth it.

Unfortunately, is not going to happen.  Joe Manchin would not agree.  So the Democrats will once again have to raise the debt ceiling.

I would prefer to see them do it by simple majority for a simple reason.  Acting alone, Democrats can raise the debt ceiling high enough to postpone any further showdowns until after the 2024 election.  Enlisting Republican will undoubtedly mean Republicans will set the debt ceiling up for further confrontations after they take control of Congress in 2022.  And if the next Congress plays chicken with the debt ceiling, they just might be crazy enough not to swerve.

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