White House rules out concessions on debt ceiling while GOP refuses to help avert financial crisis

[mahatmakanejeeves]

Nothing new; just an analysis.

Economic Policy

White House rules out concessions on debt ceiling while GOP refuses to help avert financial crisis

Republicans suspended the debt ceiling during the Trump administration but say Democrats now own the issue.

By Jeff Stein
Today at 8:33 a.m. EDT

The White House is in a bind over the potential breach of the federal debt ceiling as GOP lawmakers refuse to help Democrats avert a national financial catastrophe, leaving the administration with few easy answers as time runs out.

Senate Minority Leader Mitch McConnell (R-Ky.) has insisted Republicans will not cooperate with pleas from the Biden administration to increase or suspend the debt ceiling — the legal limit for what the federal government can borrow to avoid defaulting on its obligations.

Meanwhile, the White House has ruled out offering policy concessions to Republican lawmakers to lure GOP votes, according to three senior administration officials familiar with the matter. McConnell has not communicated any requests to the administration of what he wants in exchange for support for the suspension, the people said. Even if McConnell does outline a proposal, the White House has no intention of rewarding the GOP for trying to use the debt ceiling as leverage in other negotiations, the officials said, with one describing the position as “a matter of principle.”

[Senate Republicans say they will vote to allow a debt default, leaving Democrats scrambling for plan to avert economic crisis]

Instead, the Democrats and Republicans have spent recent days publicly bludgeoning each other over the debt ceiling, yet another sign that there are no negotiations to resolve the impasse.

{snip}

By Jeff Stein
Jeff Stein is the White House economics reporter for The Washington Post. He was a crime reporter for the Syracuse Post-Standard and, in 2014, founded the local news nonprofit the Ithaca Voice in Upstate New York. He was also a reporter for Vox. Twitter https://twitter.com/jstein_wapo

[Lovie777]

1. Deja vu . . . . .

republicans will be blamed while the USA is still in a pandemic which is killing and maiming it's people.

They should be called the party with no conscious.

[bottomofthehill]

2. Admittedly, I am not very bright but what the hell..

Trump added about 7.5 trillion to the national debt. Maybe the Democrats should split the baby and raise the debt limit by 3.75 trillion dollars. Half of what the republicans let happen under Trump. Spend that 3.75 on all democratic priorities. Cut is leas as hell in Republican states, they want roads, bridges, health care, education money, airports air traffic controllers, They can come back to the table with either a way to pay for it or a debt increase of their own that the Democrats may give them a couple votes to pass.

The grifters of the Republican Party need to know the free ride is over. They complain about government spending while they soak it up.

[Guilded Lilly]

3. B.S.Games. Arrogance. People suffer. People die. A lot. Rinse. Repeat.

[empedocles]

6. Games are repeat again and again and . . .

[bottomofthehill]

4. This is an interesting analysis on who owns (created) the debt

https://towardsdatascience.com/which-party-adds-more-to-deficits-a6422c6b00d7

[bottomofthehill]

5. Hopefully this chart shows up as the chart and not a link

https://miro.medium.com/max/1400/1*pqIXolEpzpTNktAgIclA-A.png