Joe Biden indicated today that he was warming to a Democratic proposal to blow up the rules of the Senate to raise or suspend the debt ceiling, amid fears that a breach would send the U.S. government into default and the whole economy into a tailspin
Joe Biden indicated late Tuesday he was warming to a Democratic proposal to blow up the rules of the Senate to raise or suspend the debt ceiling, amid fears that a breach would send the U.S. government into default and the whole economy into a tailspin.
But Biden’s remark suggested momentum for the act is increasing. It came as the president was returning from delivering his sales pitch for infrastructure and social spending plans in Michigan and as the White House increasinglyfor the debt ceiling brinkmanship. On Wednesday, Biden is scheduled to join business leaders at an event on the matter.
Failure to address the debt limit, a step required by law that at various times has been treated as routine, would tank the country’s credit, raise interest rates and impact social security checks. But for months, McConnell has pressured Democrats to act on the debt limit on their own through the complex budget process known as reconciliation.
Biden’s softening on the issue could have vast implications on his broader agenda, provided he convinces Manchin and others to go along with him. There is a long backlog of liberal priorities that have run up against a Republican blockade — from gun control to immigration to voting rights. If Democrats create a filibuster carve out for the debt ceiling, it could embolden progressives to argue that exceptions should be made for other congressional matters as well.
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