October 12, 2022

As we know, Republicans don't have any solutions to real problems. Instead, they prefer a menu of their demands that include changing Social Security and Medicare eligibility, spending caps, and making sure poor people who get assistance go to work. And key House Republicans plan to use next year’s debt-limit deadline to extort those concessions from Democrats. Via Bloomberg News:

The four Republicans interested in serving as House Budget Committee chairman in the next Congress said in interviews that next year’s deadline to raise or suspend the debt ceiling is a point of leverage if their party can win control of the House in the November midterm elections.

The Republican position — which members are still formulating — could set the stage for an explosive standoff next year, reminiscent of the 2011 negotiations when the Tea Party wave of Republicans took on the Obama administration over spending.

It’s also possible Republicans will demand process-focused legislation — such as requiring a reduction in the debt-to-GDP ratio — that could subsequently put major entitlement programs in play.

If Congress doesn’t raise or suspend the debt limit by the deadline, the federal government would default on payments officials had already agreed to make. Treasury Secretary Janet Yellen warned during 2021 negotiations that a default would be “a catastrophe” and could cause a financial crisis.

They're not interesting in governing. They're interested in giving their donors money, and in taking what little workers get away from them. They don't care about the country having a financial crisis, they care about using brute force in the service of their goals.

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