Blog Credo

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

H.L. Mencken

Tuesday, October 5, 2021

Debt Ceiling Carve Out

 Josh Marshall has landed roughly where I've landed on the debt ceiling standoff. Adam Silverman explains McConnell's nihilism.

I've felt that there was a possibility from the start of simply amending the Senate rules to allow debt ceiling legislation to pass with 50+1 votes. Debt was created with 50 votes, why shouldn't the debt ceiling. As Marshall notes at the end, the debt ceiling is probably unconstitutional, under the XIVth Amendment.

Obviously, we're back to Manchinema. And that sucks. However, if we presume that Manchinema's primary position is pro-business, we know that the business community wants no part of a default. While I feel the debt ceiling is unconstitutional, I don't want to have to rely on the Executive Branch minting a coin or the Judiciary having to rule on it. It has to happen in the Senate.

Most likely case is to amend the rules allowing to raise the ceiling with 50+1 votes. Hell, maybe the Parliamentarian goes along with it! The best case scenario is to simply get rid of the debt ceiling. If the rule is changed to allow 50+1 votes on ANY debt ceiling legislation, maybe we can remove this ticking bomb from American politics once and for all.

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