No, I am not talking about the things that the left is complaining that Joe Biden gave away. No, I am not talking about the fact that after insisting that there would be no discussions or negotiations…that the White House negotiated with McCarthy and the GOP in the House.
I am talking about the fact that this should never happened. After the November elections when the GOP regained control of the House of Representatives, Treasury Secretary Janet Yellen urged the White House and the Dems in Congress to raise the debt limit while they were still the majority. But those warnings at the time, went unheeded.
In the days after November’s midterm elections, Treasury Secretary Janet L. Yellen was feeling upbeat about the fact that Democrats had performed better than expected and maintained control of the Senate.
But as she traveled to the Group of 20 leaders summit in Indonesia that month, she said Republicans taking control of the House posed a new threat to the U.S. economy.
“I always worry about the debt ceiling,” Ms. Yellen told The New York Times in an interview on her flight from New Delhi to Bali, Indonesia, in which she urged Democrats to use their remaining time in control of Washington to lift the debt limit beyond the 2024 elections. “Any way that Congress can find to get it done, I’m all for.”
Democrats did not heed Ms. Yellen’s advice. Instead, the United States has spent most of this year inching toward the brink of default as Republicans refused to raise or suspend the nation’s $31.4 trillion borrowing limit without capping spending and rolling back parts of President Biden’s agenda.
So, this should never have happened…the Dems should have raised the debt limit after the elections and gone home for Thanksgiving with a sense of accomplishment. Instead they created their own version of legislative and financial hell and let the McCarthy squad gain a bit of power and notoriety in Washington…and take some of the wind out of the Biden administration’s sails at the immediate beginning of the 2024 presidential elections.
The great negotiator became the great crisis manager…create a crisis and then try to manage it…when he should have been starting his run for re-election with his real victories of the past three years.
No Joe! You can pretend to be proud of this one and take a victory lap…but it was all your own fault.