McConnell Threatens US Financial Default to Own the Libs

[Edge-]

https://www.cnn.com/2021/08/05/polit...ess/index.html

Senate Minority Leader Mitch McConnell said Thursday that Democrats should expect zero help from Republicans in their effort to raise the debt ceiling, previewing a looming fight this fall over the nation's borrowing limit, which Congress must approve.

"Democrats are about to tell Republicans to go take a hike, and start keying up trillion more dollars in borrowing and spending," McConnell said in Senate floor remarks. "They want Republicans to give them political cover for the partisan debt bomb that they'll go right on to detonate with zero input from my colleagues."

"They won't get our help," the Kentucky Republican continued. "They won't get our help with the debt limit increase that recklessly, that these reckless plans will require. I could not be more clear. They have the ability. They control the White House, they control the House, they control the Senate. They can raise the debt ceiling and if it's raised, they will do it."

The remarks come as House and Senate Democrats are weighing attaching the increase in the national borrowing limit to a must-pass funding bill this fall, a risky gambit that would essentially dare Republicans into backing the package or risk a potential debt default and government shutdown, according to multiple Democratic sources.

McConnell has repeatedly said Democrats must raise the limit themselves after pushing through multi-trillion-dollar measures this year, using their budget reconciliation bill that only requires 51 votes to pass, with Vice President Kamala Harris breaking the tie.

But Democrats say they shouldn't be forced to shoulder the burden of the politically toxic vote themselves, especially given the debt that was piled up during the Trump administration. And they are instead looking at adding the debt ceiling hike to a bill to keep the government open past September 30, pressuring Republicans to help carry the measure to avoid an economic calamity. That move would require 60 votes in the Senate to break a filibuster, meaning 10 Republicans would have to join with 50 Democrats.

While a source familiar with the matter tells CNN that no decision has been made yet, another source said that there is a growing sense in the caucus that including the debt ceiling increase in the reconciliation bill would let Republicans off the hook for spending that was a result of legislation in the Trump administration too.

"We're going to make sure what Mitch McConnell can't do to President Biden what was done to Barack Obama, which was to hold them hostage," said Senate Finance Chairman Ron Wyden, a Democrat from Oregon.

The first indication of what step Democrats will take will come as soon as this weekend when they could unveil their chamber's budget resolution. If they plan to move a debt ceiling hike without GOP support, then the resolution would include provisions indicating they plan to draft reconciliation legislation that would raise the borrowing limit. But if it's silent on the issue, then Democrats plan to try to jam Republicans in the Senate and attach it to the funding bill in the fall.

Republicans call the move reckless, arguing that Democrats could just do it on their own.

"I can't imagine giving them that assurance when they have the capacity -- on their own -- to prevent that from ever being a reality," said Sen. Mitt Romney, a Utah Republican, referring to a potential default.

Now Republicans had no issues gutting revenue and increasing spending under Trump, blowing up the US deficit and debt. But suddenly when it's Democrats it's the worst. Why they hate the government spending on programs that actually help people while loving huge tax cuts for corporations and the wealthy that literally do nothing beneficial for the economy, is beyond me.

But hey, it's a great reminder that the Republican party managed to pass a unpopular tax cut, which I didn't think was possible - https://news.gallup.com/poll/248681/...t-benefit.aspx

40% approve, 49% disapprove and only 14% saying they saw a tax reduction. Also, it cut US revenues and increased the debt. That's terrible, awful, no-good policy but hey, I guess if you keep slamming your forehead into reinforced steel siding you'll eventually break through it. Or just crack your skull open and paint the wall with your little gray cells. Because that's what the Republican party has been doing for decades with endless tax cuts that promise growth and deliver disappointment.

[uuuhname]

I wouldn't really care what McConnell has to say about it if the Dems didn't have republicans in sheep's clothing in their ranks.

[Masark]

Can anyone explain to me why this is even a thing? How are you able to pass budgets without plans for where the money in the budget is going to come from?

[Gestopft]

Can the Dems just like...get rid of the debt ceiling? Why should we even have this stupid ticking time bomb in the first place?

[cubby]

Can anyone explain to me why this is even a thing? How are you able to pass budgets without plans for where the money in the budget is going to come from?

We're still waiting for the explanation of the GQP Tax Break for the Rich. How McConnell can say the above with a straight face after passing that Tax Break for the Rich legislation is beyond me. But he lies on a daily basis, so here we are.

[Gestopft]

How are you able to pass budgets without plans for where the money in the budget is going to come from?

*the whirring sound of printing as much of a fiat currency as you need*

[Levelfive]

https://www.cnn.com/2021/08/05/polit...ess/index.html



Now Republicans had no issues gutting revenue and increasing spending under Trump, blowing up the US deficit and debt. But suddenly when it's Democrats it's the worst. Why they hate the government spending on programs that actually help people while loving huge tax cuts for corporations and the wealthy that literally do nothing beneficial for the economy, is beyond me.

But hey, it's a great reminder that the Republican party managed to pass a unpopular tax cut, which I didn't think was possible - https://news.gallup.com/poll/248681/...t-benefit.aspx

40% approve, 49% disapprove and only 14% saying they saw a tax reduction. Also, it cut US revenues and increased the debt. That's terrible, awful, no-good policy but hey, I guess if you keep slamming your forehead into reinforced steel siding you'll eventually break through it. Or just crack your skull open and paint the wall with your little gray cells. Because that's what the Republican party has been doing for decades with endless tax cuts that promise growth and deliver disappointment.

They're not trying to increase growth or enact sound economic policy. Their goal is to dismantle the social safety net and finish transferring the nation's wealth to the already rich. They don't care that it cuts revenue and increases the debt, and they don't care about the debt.

ETA: I'm also annoyed that the article doesn't mention that Republicans raised the ceiling twice under Trump, with help from Democrats, and then they suspended it altogether for 2 years, with help from Democrats.

I liked this from TPM:

"“Raise the debt limit if that’s what they’re gonna do, but they can do it on their own and saying that we have to do it is threatening to our economy and simply irresponsible,” he added, implicitly acknowledging that asking Republicans to raise the debt limit will allow them to threaten the economy irresponsibly.

“I think the majority has to solve this,” Sen. Roy Blunt (R-MO) added. “They control the House and the Senate and the White House and it’s easy for them to deal with if they want to.”

The Republican argument is so extreme as to be almost farcical: you Democrats are irresponsible if you don’t raise the debt ceiling yourselves, because otherwise, we may hold it hostage and ultimately maul both the U.S. and global economy.

Democrats, unwilling to endanger the reconciliation package by giving their moderates a new reason to oppose it, said no."

https://talkingpointsmemo.com/news/d...reconciliation

[s_bushido]

Honestly, is anyone surprised by this? Republicans ALWAYS suddenly pretend to care about the debt when a Democrat is in office. And whenever they get power again, they'll just go back to writing checks to their wealthy friends at the expense of the American people. They've been playing this game for as long as I've been paying attention (and probably decades longer than that).

[Mihalik]

Ah yes. The old classics. The GOP suddenly rediscovers fiscal responsibility after exploding the debt/deficit and tanking the economy.

Republicans back at concern trolling about the debt after increasing the national debt by 7.8 trillion in 4 years.

Charming.

[Levelfive]

7.8 trillion* but Republicans weren't counting.

[Glorious Leader]

That fucking turtle sure loves to shut up and play the hits.

[pathora44]

7.8 trillion* but Republicans weren't counting.

Well if it worked before then just do it again. Republican takes over for Democrat with high economy and by the end of their presidency they crash the economy. Democrat comes into crashed economy working their asses off to get it back right and going up.

[bladeXcrasher]

Never forget this gem.

[Sunseeker]

It's about the only card they have to play when they're not in charge.

[Mihalik]

It's about the only card they have to play when they're not in charge.

That and brown people at the border/in your neighborhood or something about the transgenders* corrupting your children/taking away their middle school soccer trophies or something.

[Calfredd]

That and brown people at the border/in your neighborhood or something about the transgenders* corruption your children/taking away their middle school soccer trophies or something.

Oh god speaking of which, Tucker Carlson found out about Chris-chan and is having a field day with that.

[D Luniz]

Oh god speaking of which, Tucker Carlson found out about Chris-chan and is having a field day with that.

i saw a tweet in my recommended saying "what is chris-chan" I clicked it and it was a lot of tweets of people only asking that question, and people arguing about some documentary by someone called "contra" and if you should or shouldn't watch it

I actually think I somehow know less than the nothing I knew before.

[Calfredd]

I actually think I somehow know less than the nothing I knew before.

Enjoy the rabbit hole if you dare but know that it ends with Chris-chan have sex with their own mother who happens to have dementia.

[tehdang]

What's this about US Financial Default? Are we seriously confusing a partial government shutdown, the likes of which have happened at least twice in the past decade, and a default?

Around two thirds of government still reports to work, because Congress etc have deemed them essential, and the rest go home without pay until the "crisis" passes, when funding bills simultaneously raise the debt ceiling and give back pay to affected workers. Which of course sucks for the people not working for that period, and all that, but it's no financial default. Congress is temporarily not authorizing more debt to fund the government, while existing essential services and revenues bypass those strictures ... because it's not actually defaulting on the debt.

[BronzeCondor]

Dumb theatrical politics is all it is, McConnell is a moron clinging to an outdated playbook.

Spending is going to need to increase, regardless of who is in office. We've neglected our country far too much while profiteering with China and fighting the GWOT.

Infrastructure & a military that can deter China are a must.