Why aren't Democrats willing to use the House and Senate majorities to raise the debt ceiling, knowing that defaulting on our debts, which Treasury Secretary Janet Yellen has warned could come as soon as mid-October, could have catastrophic impacts on an economy still struggling to recover from the global pandemic?
Raising the debt limit sounds like you are OKing future spending by the federal government, a sort of blank check that many Americans, Republicans and Democrats, are not big fans of.
Which is why Democrats don't want to go it alone on the debt limit suspension or increase. But they been going it alone in many other thing.
In Democrats' minds, they would be getting all the worst parts of raising or suspending the debt ceiling with none of the benefits. They would be handing Republicans a ready-made campaign ad -- albeit one entirely based on the misunderstanding I mentioned -- while also paying off the debt rung up by Donald Trump.
The Republicans are refusing to do so because Democrats are in the majority, and have spending plans in trillions. So when the economy tank, no one else to be blamed. Just a thought.
