House Dems Hold Key to Debt Ceiling Crisis

Having been in problem-solving professions for a few decades, I often shake my head in disbelief at the incredibly problem-infested way our Federal government is “run”. And being someone who believes in integrity, I often fume when watching some of our elected officials not only do things that would get the average American jailed but do them while smiling at us, knowing there’s nothing that we can do about it. The problems in how our government operates and how to fix them likely requires a series of posts but this one is limited to dealing with the current Debt Ceiling crisis. While this may not interest the average American, it’s important for all of us to pay attention because screwing this up will impact everyone.

Instead of just voting to raise the Debt Ceiling, as has been the norm for decades, the House of Representatives is holding the United States hostage by passing a bill requiring budget cuts if the Debt Ceiling is raised. The fact that not raising the Debt Ceiling could cause a worldwide economic crisis and ruin the United States’ financial reputation forever did not deter the House from narrowly passing the bill. That Congressman George Santos, a serial liar who is under indictment for fraud, cast the deciding vote is an example of a problematic and broken system. That he wasn’t required to cast that vote via Zoom call from prison is just the icing on the cake.

I started paying attention to the Debt Ceiling about a decade ago when it was featured in an episode of The Newsroom. That episode incorporated actual quotes from some of Wall Street’s – and the world’s – most knowledgeable financial experts who said (and I paraphrase) even debating whether or not to raise the Debt Ceiling threatened to cause a financial crisis for the United States. That we are not only debating whether to raise it now but have passed a bill that might prevent us from doing so only underlines the chaos caused by having a small but powerful group of inept people who want what they want, even if it tears the temple down.

In order to solve a problem, you have to identify what that problem is. And the problem here isn’t actually the House wanting those spending cuts tied to raising the Debt Ceiling. Just under half don’t. The problem is that Speaker of the House Kevin McCarthy isn’t negotiating to fix the Debt Ceiling problem; he’s negotiating to remain Speaker of the House. That’s why the House Democrats hold the key to resolving this crisis.

It took McCarthy fifteen attempts to become Speaker. After each of the fourteen failed attempts, McCarthy bargained with some extreme House Republicans, making more and more promises that compromised his ability lead in order to secure their votes in round 15. One of the concessions McCarthy made was that a vote to remove him as Speaker could be forced by just one House member. McCarthy knew that if he didn’t back the bill tying spending cuts to raising the Debt Ceiling, a vote would likely be held to strip him of power. He also knows that if he compromises too much while negotiating with President Biden on the matter, a vote will likely be held to strip him of power, as well.

Here’s where the House Democrats can save the day. They can promise McCarthy that they will vote to keep him as Speaker if his doing what’s best for the United States puts his Speakership in jeopardy. There are enough House Republicans that will also back McCarthy that combining their votes with the House Dems will keep McCarthy in place. Although I’m not a fan of Kevin McCarthy, I’d rather see him remain Speaker and have the Debt Ceiling raised with no strings attached. Defaulting on our debts isn’t – and should never have been – an option.

By doing what I propose, the House Democrats can brag about putting country over party, something that used to be the norm but today merits headlines. If House Minority Leader Hakeem Jeffries had urged the House Democrats to throw their support behind McCarthy after it was obvious that McCarthy was making deals with the devil to win the Speakership, we wouldn’t have a small group of crazies exerting undue influence over the man who’s third in succession to the Presidency. The House Democrats could still have allowed McCarthy to be embarrassed by losing multiple ballots while, at the same time, keeping people who you wouldn’t want in your home from compromising one of the most powerful positions in Washington. But that’s a topic for another post. For now, it’s crucial that the House Dems make a commitment to McCarthy so he can negotiate on the Debt Ceiling instead of negotiating for his Speakership because we know what he’ll do unless he’s offered a way out. It’s time to fix this debacle so we can move on to the next crisis.