Looming Debt Ceiling Deadline
Washington, D.C., May 23, 2023
It’s been surreal watching President Biden’s handling of this looming debt ceiling deadline.
The man knows this is a critical issue. He knows the responsible thing was to start working with Republicans on this months ago. He knows spending must be cut because of our massive federal debt and inflation.
So how did he handle matters?
Well, he started off by insisting on a “clean” debt ceiling increase – one with no reductions in spending whatsoever. Just keep spending more and more, running our nation off a fiscal cliff. Everybody knew that wasn’t going to happen.
Then he insisted Republicans pass our plan first. So that’s exactly what we did. It’s a very reasonable plan with easy cuts to spending while dealing with the debt ceiling.
Then he pivoted by calling the Republican plan “extreme MAGA.” What a joke. Friends, cutting funding for his army of 87,000 new IRS agents is not extreme. Clawing back unused Covid funding is not extreme. Eliminating unnecessary Green New Deal funding is not extreme. Not forcing other people to pay for someone’s college loans is not extreme. What’s extreme is putting your head in the sand, like Biden has been doing for months!
Then when questioned about rumors he wants to somehow use the 14th Amendment to bypass Congress and disregard Article I of the U.S. Constitution so that he can continue spending money past the existing debt limit, Biden literally claimed, “I think we have the authority.”
He does not.
If Janet Yellen is to be believed, we are just a week or two away from the Treasury not having enough money to pay all of its bills. If that happens, it will need to start prioritizing what gets paid, and what gets delayed.
Biden thought he could run out the clock and believed Republicans would cave at the last minute under pressure. That is no way to lead a nation.