The U.S. does it if they’ve been elected to Congress While President Joe Biden and Speaker Kevin McCarthy do the debt-ceiling two-step, Treasury Secretary Janet Yellen cautions that the government is “highly likely” to run out of money as early as June 1, reports Axios: MAGA Republicans holding McCarthy’s short leash demand cuts to the federal budget, or else. Or else they’ll set fire to the country they failed to on Jan. 6 and likely revoke his speakership, Politico suggests, because “any single disgruntled member [is] empowered to orce a vote on ousting him.” The American Prospect sees the debt limit as an unconstitutional congressional veto on the Executive branch’s responsibility to authority to fulfill existing U.S. obligations: The Constitution gives Congress the power to make contracts. It does not give Congress the power to renege on these contracts. Once Congress has committed the United States to perform a promise, the president’s duty to “take Care that the Laws be faithfully executed” requires the executive branch to perform. If performance requires payment and Congress has appropriated the funds, Treasury is bound to pay. If Congress does not raise enough revenue to pay for appropriated commitments, then the president’s only choice is to borrow to fill the gap. Each time Congress authorizes a contract and appropriates funds to perform it, it necessarily authorizes borrowing to the extent that Treasury funds fall short. […] Taken literally, the debt limit would allow Congress to exercise a constitutional power with one hand (debt contract) and…