There is no better politician than House Speaker Nancy Pelosi (D-CA). She grew up on a steady political diet with both of her parents as active Democrats. Her father was Baltimore Mayor and a U.S. representative, and her mother was an activist. When someone asked whether she would pull off President Joe Biden’s signature legislation and avoid a government shutdown, the response was, “Have you met Nancy Pelosi?”
In her press briefing on Thursday House Speaker Nancy Pelosi (D-CA) spoke about the short-term spending bill, which is a “continuing resolution,” according to Yahoo News:
‘Whatever it is, we will have a CR that passes both houses by Sept. 30. It’s quite appalling, because when Republican presidents were there, we always had bipartisan support for that.’
Speaker Pelosi knew she had the votes to pass a legislative package to extend government funding through December 3. It would also include emergency funds for resettling Afghan refugees. Not only that, it covered funds to address a series of natural disasters around the U.S.
Treasury Secretary Janet Yellen warned that her department would end its borrowing authority sometime next month. So the Democratic leaders also attached language to suspend the debt limit.
The U.S. has never defaulted on one of its loans. Even so, Mitch “Grim Reaper” McConnell refused to bring even one vote to the situation. Economists from every corner of the political universe warned that doing so would destroy our economy and create economic ripples-effect moving around the world, if not worse.
CNBC reported:
- ‘Congress faces two massive tasks over the next month: funding the U.S. government and increasing the debt ceiling.
- ‘The federal government’s fiscal calendar runs from Oct. 1 to Sept. 30, meaning a shutdown will occur if lawmakers don’t pass a budget by the end of the month.
- ‘Congress must suspend or raise the debt ceiling before when the U.S. would default and risk missing payments to Social Security and the military.’
After greenlighting all of Donald Trump’s debt ceilings, Senate Minority Leader Mitch McConnell (R-KY) had a different take for the Dems on Wednesday:
‘Don’t play Russian roulette with the economy. Step up and raise the debt ceiling.’
In spite of that, Pelosi was positive that they would all reach a deal:
‘We sent that bill over to the Senate. Depending on what happens there we will keep government open by Sept. 30.’
Republicans’ opposition to increasing the debt limit, both in the House and the Senate, was in their warped way a matter of protesting President Joe Biden’s agenda. He aspires to repay the middle and working classes for what the Republicans have sucked out of their economy and handed off to their donors. The Democrats gave POTUSÂ his $3.5 trillion transformational spending bill.
Every Republican opposed linking the continuing resolution with the debt ceiling suspension. Needless to say, the Democrats were extremely unhappy. After all, they had worked with the Republicans to raise the debt ceiling for Donald Trump — three times.
McConnell said that he supported raising the debt limit to keep America from defaulting. However, he claimed it was not his party’s responsibility to vote for it. His reasoning? The GOP is the minority party. That also meant McConnell could filibuster it.
Instead, the minority leader had an alternative continuing resolution. His did not include suspending the borrowing limit. That was an immediate no-go for the Democrats. It appeared as if the GOP really did want to shut down the government on September 30 and tank the economy.
Even so, Pelosi remained positive. Clearly, she knows something we do not.
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