It’s the government equivalent of paying the mortgage. We have to go ahead and do the thing we have to do. That’s just political reality, and we can’t wish it away. McCarthy had to pass a bill that could garner their support. war on environmentalism.īret: I don’t think anyone wants Uncle Sam to default on his debts - except, well, the nuttier Republicans who hold the balance of power in the House. But McCarthy now wants to use it as a hostage - attaching his wish list of spending cuts (weaken the I.R.S.!) and prosecuting the G.O.P. The debt ceiling needs to be raised in order to avoid an unprecedented, messy, horrible moment when the country’s credit goes bad and economic collapse spreads around the globe.Įverybody knows that has to be done. Gail Collins: Bret, with your strong feelings about fiscal responsibility, you of all people should be offended by McCarthy’s ploy. But the House speaker did succeed in getting a bill through Congress with a debt-ceiling increase, and now the Biden administration needs 60 votes in the Senate - meaning 51 Democrats and independents plus nine Republicans - to get the limit increase to the president’s desk for a signature.
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