Slaying the Debt Ceiling Dragon

Slaying the Debt Ceiling Dragon

On this episode of The Time of Monsters, Jeff Hauser discusses why negotiating with the Republicans is no solution.

Facebook
Twitter
Email
Flipboard
Pocket

Over the past 30 years, Republicans, when in control the House of Representatives, have repeatedly used the debt ceiling to force Democratic presidents to make draconian budget cuts. This drama took place under both Bill Clinton and Barack Obama. We are now witnessing a replay under Joe Biden. Under pressure from divergent political forces, Biden is being forced to make a choice between negotiating with the Republicans or figuring out a way to squash the debt ceiling threat.

In a recent statement, Jeff Hauser, founder of the Revolving Door Project, makes the case for a direct fight: “GOP leaders have sent a wildly exploitative ransom note to the public. The administration should not accept its terms. Biden, Yellen, and Garland have many executive branch pathways to avoid doing so, including by refusing to defend the debt ceiling against the recent lawsuit from government employees arguing that it is unconstitutional for the federal government to not pay its debts. The Biden Administration must not cave in to extremists and overwrite the best of the administration’s legacy merely in order to sustain the legal incoherence that is elites’ understanding of the debt ceiling.” I spoke to Jeff about the dangers of the debt ceiling as a threat to the constitutional order and how Biden can fight it.

Subscribe to The Nation to support all of our podcasts: thenation.com/podcastsubscribe. 

Thank you for reading The Nation!

We hope you enjoyed the story you just read. It’s just one of many examples of incisive, deeply-reported journalism we publish—journalism that shifts the needle on important issues, uncovers malfeasance and corruption, and uplifts voices and perspectives that often go unheard in mainstream media. For nearly 160 years, The Nation has spoken truth to power and shone a light on issues that would otherwise be swept under the rug.

In a critical election year as well as a time of media austerity, independent journalism needs your continued support. The best way to do this is with a recurring donation. This month, we are asking readers like you who value truth and democracy to step up and support The Nation with a monthly contribution. We call these monthly donors Sustainers, a small but mighty group of supporters who ensure our team of writers, editors, and fact-checkers have the resources they need to report on breaking news, investigative feature stories that often take weeks or months to report, and much more.

There’s a lot to talk about in the coming months, from the presidential election and Supreme Court battles to the fight for bodily autonomy. We’ll cover all these issues and more, but this is only made possible with support from sustaining donors. Donate today—any amount you can spare each month is appreciated, even just the price of a cup of coffee.

The Nation does not bow to the interests of a corporate owner or advertisers—we answer only to readers like you who make our work possible. Set up a recurring donation today and ensure we can continue to hold the powerful accountable.

Thank you for your generosity.

Ad Policy
x