As debt ceiling fight rages, Democrats bring up an old idea: Abolish it

[Yo_Mama_Been_Loggin]

Last edited Thu May 18, 2023, 08:07 PM - Edit history (1)

The first time Sen. Brian Schatz (D-Hawaii) tried to abolish the debt limit, he pleaded with lawmakers to “stop these attempts to govern through threats” that put the economy at risk.

That was in 2017, the same year that a Republican revolt brought the United States within weeks of a catastrophic default. But Congress did nothing to change the underlying law that September, nor when he and other Democrats tried again in 2019, and 2021, and just this past April, even while a wave of similar fiscal standoffs roiled Washington.

Now, the crisis that Schatz and other Democratic lawmakers have long labored to prevent has the country 14 days away from running out of money to pay its bills. The potential for doomsday has affirmed for some Democrats the point they’ve been straining to make: The debt ceiling simply shouldn’t exist in the first place.

“I just always thought this was the stupidest thing we do, and we do a fair number of stupid things,” Schatz said this week.

https://www.washingtonpost.com/business/2023/05/18/us-debt-ceiling-repeal-democrats-deadline/

On edit it looks like old Heehaw Hawley agrees.

Link to tweet

[LonePirate]

1. Anyone who supports maintaining the debt ceiling supports extortion.

The passage of a budget and continuing resolutions gives the Treasury the authority to pay the bills and outlays outlined in the budget. The debt ceiling is unnecessary and now harmful. Biden needs to invoke the 14th Amendment and do away with it forever.

[riversedge]

2. Biden has been negotiating for weeks now--nothing about the 14th from Biden Admin

as far as I know. But I agree--just get rid of it. This constant yearly fighting is not good for anybody!

[2naSalit]

3. That's the best thing they could do.

[Grins]

4. Just one of many laws/policies that need changing and haven't.

After 2016 - the Electoral College.
Gerrymandering.
Presidential pardon authority.
Definition of treason.

I Have a long list and I assume you have one, too.

[BeckyDem]

5. Yes, just do it.

We do not have good faith partners with Republicans, after the insurrection, any idea of it is pure fantasy.

[BComplex]

6. If we take back the house and senate in 2024, we need to abolish

that potential train wreck once and for all. And while we're at it, we need to increase the justices on the supreme court.

VOTE!!!!!

[Rebl2]

7. Should have been

done years ago. All it is, is a weapon to be used against the other political party. Mean while your constituents feel like they are being held hostage and are frightened. At least that’s the case for me and my family.

[ProfessorPlum]

8. re-implement the Gephardt rule

which said that passing the budget included passing the debt ceiling to pay for it. Simple.

[dlk]

9. The debt ceiling is anti-democratic and a self-inflicted wound

It only provides an opportunity to those who didn’t get their way in the appropriations and budget process, to get a do-over. There’s nothing rational or democratic about it.