Debt ceiling standoff

Created
Wed, 10/05/2023 - 04:00
Updated
Wed, 10/05/2023 - 04:00
This piece by Dan Pfeiffer in the NY Times makes the case. This has got to stop: After months of unity, some Democrats, reverting to their natural state of disarray, are breaking ranks to pressure the president to the table. A poll from Echelon Insights showed that voters support the idea of negotiating over the debt limit. Mr. Biden’s strategy is undoubtedly risky. But from the perspective of someone who had a front-row seat inside the White House to the last two debt-limit standoffs between a Democratic president and a Republican House, Mr. Biden’s refusal to negotiate on the debt ceiling is the best strategy. Facing an urgent deadline and a daunting political context — with the House speaker, Kevin McCarthy, joined to an unstable, far-right bloc of Republican representatives who limit his maneuverability — the president can ideally find a way to extend discussions around the debt ceiling and fiscal issues. Otherwise, he will have to find a way around the House. The president must know that Mr. McCarthy is not a negotiating partner who can be trusted to deliver. The speaker’s fate is in the hands of representatives — including many House Freedom Caucus members — who have shown very little willingness for compromise or good-faith negotiation. With their threats to plunge the country into default for the first time in its history, they can plausibly be seen as a threat to the nation’s economy and its stability as a global financial power. That puts severe limits on the terms of any…