Please pull out all the stops to raise, repeal, or otherwise put the debt ceiling out of weaponizing reach now during the lame duck session. This is crucial to prevent the new GOP House majority from again using it to blackmail congress and prevent Democrats from getting anything positive done while the GOP lurch forth with burn-it-all down obstructionist tactics. Unhinged Magas such as MTG, McCarthy and their ilk are likely to risk debt default and throw the US and World economies into crisis simply to thwart democrats at every turn. Economists on both sides of the aisle agree this would be a tragedy— and an unnecessary one, since although the debt ceiling is an anachronism, defaulting would create dangers of global proportions that we’d be extremely foolish to risk.
As Washington Post columns by economist Peter Orszag (gift link: https://wapo.st/3TTTEkH (https://wapo.st/3TTTEkH) ) and columnist Greg Sargent ( https://wapo.st/3i3yG5P (https://wapo.st/3i3yG5P) ) point out, there is no time to waste in putting the debt ceiling out of reach of the GOP, since breaching it and defaulting for the first time would needlessly throw the US and world economy into chaos that would do yet-unknown harm.
Yes, there are other crucial priorities to achieve in this lame duck session (and Sargent’s column offers 4 great examples that I support). But please Dems, have faith in your ability to walk and chew gum in the short time ahead and take this on. Peter Orszag posits it would take about two weeks of concerted effort to raise the debt ceiling and prevent a calamitous economic crisis. Please act now.
Sincere thanks for your legacy—and your efforts in this pivotal session.
