by Julia Rock, Jacobin
In the debt ceiling standoff, Republicans are holding the global economy hostage, demanding a ransom payment that consists of gutting the US social safety net, rapid approval of fossil fuel projects, cuts to education and national park budgets, and more.
Their strategy appears to be working. On Saturday night, House Speaker Kevin McCarthy (R-CA) announced he and Biden had reached a tentative “agreement in principle” to raise the debt ceiling that includes new work requirements on social programs and cuts to the federal budget. Lawmakers are expected to vote on the agreement this upcoming Wednesday.
President Joe Biden, a famously bad negotiator who has pushed for cuts to social programs in the past, has negotiated with the hostage takers. Lawmakers in his own party are reportedly “anxious” that the president has been ignoring the old adage about negotiating with terrorists. In other words, the current standoff over the debt ceiling looks like the Washington Generals (Democrats) deliberately getting pantsed and preparing to lose to the Harlem Globetrotters (Republicans).
Recent Posts
Mamdani’s Massive Victory Should Show Democrats Where The Party’s Future Lies
Take Action Now NYC mayoral candidate Zohran Mamdani has thrown the drowning Democratic Party a life vest. Will its leaders use it?By Sam…
India Walton’s Advice For Zohran Mamdani
Take Action Now “I think that for him, the race ’til November needs to be staying on message—we can’t start to water it down…
AIPAC Has Too Much Influence On Congress, Says Rep. Ro Khanna
Take Action Now The antiwar California House Democrat answers tough questions from Mehdi and a live DC audience about Trump’s attack on Iran.By…
Zohran Mamdani’s Win Is the Beginning Of The End Of The Old Democratic Party
Take Action Now Mamdani’s NYC primary victory shows that the old tricks of the political establishment are dying out—and something new is being……