During CNN’s Presidential Town Hall with Donald Trump last week, the former president suggested that it might be necessary for the Republicans in Congress to allow a default to occur in the fight over the debt ceiling.
He suggested the Democrats, including President Joe Biden, would cave on the issue.
Trump also dismissed that it would be bad for the country.
“It’s really psychological more than anything else. And it could be very bad. It could be, maybe, nothing. Maybe it’s – you have a bad week or a bad day,” Trump told CNN host Kaitlan Collins.
Debt Ceiling: The Progressive View
The stance from progressive lawmakers was just as extreme, and this included Rep. Pramila Jayapal (D-Wash.), the chair of the Congressional Progressive Caucus, who told Axios earlier this week that it’s “really important that we don’t give ground” – and that included on several areas, including welfare work requirements and energy permitting reform.
“We have made it clear … that if they give on these core Democratic values, there will be a huge backlash,” Jayapal added.
She was hardly alone in drawing such a line in the sand.
Rep. Alexandria Ocasio-Cortez (D-N.Y.) also suggested that the White House could “expect pushback on nearly any significant concession. This is not an appropriate vehicle … I don’t think we should normalize such destructive tactics.”
The progressive lawmakers have stated they are concerned that Biden could risk “emboldening” Republicans, which could lead to further demands if the president abandons his refusal to sign anything other than a clean debt ceiling increase.
“It’s profoundly destructive and it also threatens to weaken the president,” Ocasio-Cortez added.
“I’m very, very concerned,” also said Rep. Jamaal Bowman (D-N.Y.), who further noted that he is “leaning towards not optimistic in terms of what we’re going to give up,” and further warned, “It makes us look weak and like we don’t know what we’re doing.”
Senate Democrats Call for Biden Not to Negotiate
It isn’t just those in the House of Representatives that warn of the dire consequences if the GOP refuses to accept the White House’s terms on raising the debt ceiling. Senate Democrats have urged President Biden not to negotiate with Republican House Speaker Kevin McCarthy over the legislation to raise the debt limit, arguing that the full faith and credit of the federal government should not be used as a bargaining chip in such negotiations.
“Congressional Republicans are ready to drive our economy off a cliff to fulfill their dream of erasing America’s safety net,” Massachusetts Sen. Elizabeth Warren said on the Senate floor on Tuesday, Business Insider reported. “Kevin McCarthy is the only one who won’t take default off the table. Democrats – including President Biden – have been clear: these dangerous proposals are not going anywhere. We will not create a red tape maze that has been a complete failure every time it has been tried.”
Last week, President Biden told reporters he would consider invoking the constitutional provision about the validity of U.S. debts in order to skirt House Republicans amid a tense standoff on the country’s borrowing limit, Fox News reported.
The debt ceiling, or debt limit, is the law that limits the total amount of money the U.S. government can borrow to pay its bills. This includes payments to federal employees and to members of the U.S. military, as well as funding for Social Security and Medicare, along with interest on the national debt and tax refunds.
Congress must now vote to raise or suspend the ceiling so it can borrow more.
Author Experience and Expertise
A Senior Editor for 19FortyFive, Peter Suciu is a Michigan-based writer. He has contributed to more than four dozen magazines, newspapers, and websites with over 3,200 published pieces over a twenty-year career in journalism. He regularly writes about military hardware, firearms history, cybersecurity, politics, and international affairs. Peter is also a Contributing Writer for Forbes and Clearance Jobs. You can follow him on Twitter: @PeterSuciu.