Democrats’ internal wrangling over a massive new social spending plan will soon be eclipsed by much more urgent problems: avoiding an economic collapse and a government shutdown
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"Nobody blinks in the short run. But at the end of the day, we have to raise the debt limit," said Rep. Don Beyer , who chairs the Joint Economic Committee. "But it could be after dinner on Sept. 30."must be raised shortly after that No final decision has been made, and success is far from guaranteed. But even with unilateral power to deal with the debt ceiling themselves, Democrats say they don’t want to set the precedent that one party is expected to address the debt limit when they are in charge.
Rather, Senate Republicans say Democrats should just increase the debt ceiling on party lines as part of their plans to spend as much as $3.5 trillion on education, climate change and health care while raising taxes on the wealthy. But that solution isn’t workable at the moment either: Several moderate Democratic senators are not willing to support a unilateral increase in the debt, according to a Democratic aide.
But Republicans are holding their hard-line stance as Congress prepares to end its lengthy August recess. In an interview with the Louisville Courier-Journal this week, Senate Minority Leader Mitch McConnell said: “The debt ceiling needs to be raised. The issue is who should do it.” Democrats are quickly trying to advance their massive social spending plan, a key plank of Biden’s domestic policy agenda, before turning to the more routine work of funding the government and covering the nation’s debt obligations.
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