As Congress continues to debate and negotiate the debt limit deal, the June 1 deadline looms with an attempt to avert an unprecedented national default still hanging in the balance.
New negotiators were named on Tuesday to narrow the discussion and arrive at a compromise, with Speaker Kevin McCarthy hopeful that a deal was “possible by the weekend. But no deal has appeared yet.
Dems are furious that Congress has not raised the debt limit yet again, while Republicans fight to limit the debt ceiling and the spending. Biden National Security Council spokesperson John Kirby stated, “We wouldn’t even be having this discussion about the effect of the debt ceiling debate on the trip [Biden’s trip to Australia] if Congress would do its job, raise the debt ceiling the way they’ve always done.”
But Joe Biden wants to use the Constitution to delay or ignore completely the rising debt ceiling.
Red State reports:
It’s not very often that the President of the United States, the leader of a major American political party, tells its members to “talk to the hand.” But that’s what just happened.
As RedState reported earlier on Friday, the debt ceiling talks between Joe Biden and congressional Democrats and Republicans, which appeared to be moving along at a clip on Thursday, hit what amounts to a gigantic brick wall. Bonchie nailed it, starting with the headline: “Biden Drives the Country Closer to the Cliff After Debt Ceiling Talks Abruptly Shut Down.”
He wrote, before quoting the AP’s breaking story about the talks breaking down because of fundamental differences between the participants, that “unfortunately, the president suffers from a bad case of sheer, unadulterated hubris, and that’s pushing the nation closer and closer to the fiscal cliff.”
Bonchie continued:
“McCarthy is not demanding massive spending despite Democrat fear-mongering over the issue. Rather, the big ask is to simply return to 2022 spending levels with a one percent annual growth cap. That would avoid having to slash major programs while putting the country on a path to possibly outgrow the current deficit. Would that be effective anytime soon in solving the problem?”
Bonchie surmised that, no, it might not, given how much destruction the Biden Administration and its buddies in the Federal Reserve have caused to the U.S. economy, but it might “[stop] the bleeding.”
Dems, as expected, the Squad, but also including leader Hakeem Jeffries, want the President to bypass Congress to avert a default. The 14th Amendment states that the “validity of public debt” cannot be questioned and Dems would like to use that to halt the talks.
So, they want the White House to simply roll over the Constitution and invoke the 14th Amendment—that is, say that debt ceiling must be raised without cutting any spending, damn the consequences to the country.
Now, Politico reports that Joe Biden has essential told the Democrats to forget about it, when it comes to triggering the 14th Amendment:
“But the White House remains resistant. It issued a subdued statement indicating it sees no reason to pull the plug on talks. And privately, its message has been even blunter.”
“They have not ruled it out,” said one advisor to the White House, granted anonymity to speak candidly about discussions to Politico. “But it is not currently part of the plan.”
Biden advisor, David Kamin said that invoking the 14th Amendment might technically avert a default, but would do little to protect the U.S. from the subsequent fallout, Politico continued. “I don’t think we should kid ourselves about the damage that would be imposed on the economy and the credibility of the United States,” he said. “That is not a position the government should be put in.”
Red State continued:
Senior Biden officials have told progressive activists and lawmakers in recent days that they do not see the 14th Amendment — which says the “validity of the public debt” cannot be questioned — as a viable means of circumventing debt ceiling negotiations. They have argued that doing so would be risky and destabilizing, according to three people familiar with the discussions.
And while the officials said “Biden would likely have the authority to declare the debt limit unconstitutional as a last-ditch way to sidestep default,” something this drastic would lead to “a pitched legal battle, undermine global faith in U.S. creditworthiness and damage the economy.”
To try to save face with the progressives, they used some weasel wording, saying “[t]hey have not ruled it out….But it is not currently part of the plan.” Oh, gosh, to be a mosquito on the wall right now in the halls of Congress. The Dems have to be enraged by this move by the White House. The problem, though, is that Biden might actually want to win an election in 2024. It’s gotta be tough to hear it from their Party leader.
