Abbreviated Pundit Roundup: Debt limit fight threatens chaos

1 year ago 32

It’s a relatively slow news week with Congress not in session.

Meanwhile, somewhere, the debt ceiling looms...

Bulwark:

There's Nothing "Conservative" About Reneging On the Debt

Plus: The latest lies of George Santos, or whoever he is

“Brinksmanship” seems like a euphemism for this fiscal game of chicken.

A hypothetical proposal that protects Social Security, Medicare, veterans benefits and the military would still leave out huge swaths of critical federal expenditures on things such as Medicaid, food safety inspections, border control and air traffic control, to name just a handful of thousands of programs. Democrats are also likely to accuse Republicans of prioritizing payments to U.S. bondholders — which include Chinese banks — over American citizens.

“Any plan to pay bondholders but not fund school lunches or the FAA or food safety or XYZ is just target practice for us,” a senior Democratic aide said…

In other words, the GOP’s Rube Goldberg plan is a non-starter. So what happens when the newly puissant Freedom Caucus takes the economy hostage, and the country teeters toward an actual default?

There’s no secret, no mystery here.

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