Until the next debt hostage crisis

Created
Thu, 01/06/2023 - 02:30
Updated
Thu, 01/06/2023 - 02:30
And there will be a next time By the time you read this, it’s possible that the debt ceiling saga will finally be over. Senate leaders have said they have the votes to pass it and as of this writing, Speaker of the House Kevin McCarthy, R-Calif., is set to call for a vote on the package immediately — and unless he is completely inept (which is very possible), that means he knows he has the votes. Of course, anything can happen with this volatile, slim GOP House majority, as we learned during the epic speaker vote back in January. They like the drama and we may get some yet. But at this moment it appears that the deal struck by McCarthy and President Biden over the weekend is likely going to pass on a bipartisan basis over the objections of some on both the left and right, avoiding a default and any ensuing economic catastrophe. This agreement has left a sour taste in the mouths of progressives who were led to believe that the Democratic leadership in Congress and the White House had learned their lesson from past debt ceiling showdowns and were not going to engage this time. There is intense frustration in the Democratic ranks over the GOP’s repeated hostage-taking with demands for cuts to vital programs while they behave like responsible leaders whenever a Republican is in the White House and thus engage in budget negotiations in good faith. This time, Republicans got cuts to programs that help people…