The Debt Ceiling and Negotiation

Republicans illicitly fuse two separate issues into one.


1) Raising the debt ceiling. Raising of the debt ceiling, other than its technical aspects, is not a negotiable item.  Obligations are enshrined in law.  They must be met by additional borrowing.  Or would my Republican friends, prefer a temporary suspension of the debt ceiling while congress and the president prepare draconian tax increases to pay obligations already assumed?

2) The federal debt is the result of the chronic excess of spending over revenue.  This can only be addressed by reducing spending and increasing revenue.  But Republicans have not only taken increasing taxes off the table, they are advocating subtracting resources from the IRS  resources needed to enforce existing tax law.  This Republican intransigence is basis for neither negotiation nor discussion.

 Also,  while it may be prudent for the debt to grow more slowly there is neither economic nor fiscal basis for its growth to cease or be reduced.


Republicans do not wish to negotiate or discuss.  They wish to dictate terms.  Dictating terms is what a victorious nation does to its defeated enemy, often to its long term regret.

Comments

Post a Comment

Popular posts from this blog

The Illegitimacy of Debt Ceiling Extortion

 This isn't about waste in government, or the debt or anything of consequence to the American people.  Your threatened default on the nations debt (and its obligations for spending already approved!) serves no purpose.   That’s right, no legitimate political purpose.  If Republicans wish to reduce the deficit entirely by spending cuts (without additional taxation and perhaps even tax cuts) they will have every opportunity to make that case to the American people in November 2024 and if the people approve, and Republicans win control of the presidency and both houses of Congress, they will have the opportunity to enact their agenda.  Extorting their agenda in the current environment of divided government is a betrayal of their oaths to support the Constitution.  The purposes of this extortion are confined to the insatiable desire of the Republican base for ‘red meat’ and the insatiable desire of the majority of Republican congressmen to stick it to the ...
Read more