There Will be No Default on the Debt

With the politicians and media dutifully doing the bidding of business and convincing most people that the debt ceiling is a serious problem; rather than the manmade policy designed to keep government from working for the people, I thought it would be good for me to share exactly what will happen over the next week or two.


Joe Biden and the Democrats, counting on the reality that the media won’t report the truth and that most people don’t know the truth will continue criticizing Republicans, playing up the idea that this is a serious issue that will hurt all Americans, and regularly say they will never allow Republicans to hold the debt ceiling as a hostage to exact budget cuts.

Kevin McCarthy and the Republicans will ignore the reality that they ran record budget deficits while Trump was president and they controlled Congress, continue screaming about the Democrats wasteful spending, and demand spending cuts in exchange for raising the debt ceiling. Until Republicans have control of Washington again, deficit spending and the debt will be used by Republicans, as they always have, to ensure they do nothing to benefit their voters at the expense of the only constituents they care about (corporations and the wealthy).

At some point, Biden will claim he is protecting the soul of America by making a deal with McCarthy. He will tell us he had absolutely no choice. He will make it clear that the only way to prevent this from happening in the future is to reelect him and give Democrats control of Congress in 2024.

Then Biden and McCarthy will announce a deal that raises the debt ceiling and cuts domestic spending, especially on programs benefiting poor people.

Biden and the Democrats will tell us they kept their word. They will say they got the debt ceiling raised without negotiating on spending cuts. They will say that the spending cuts screwing the poor were not part of the debt ceiling negotiation. They will hope many people believe that the spending cuts were a separate negociation related to the budget. Yes, they really believe, and most of the time they are right in believing, that most of the public really is this naive.

McCarthy and the Republicans will take a victory lap. They will proudly talk about the spending cuts that will hurt their voters knowing most of their voters don’t understand how they will be hurt and will blame others when they get hurt. They will brag about America’s latest path to so-called fiscal responsibility. Then, they will go back to their offices and wait for the day when they can cut corporate taxes and taxes for the wealthy with no regard for the debt at all. For when it comes to satisfying their base, the debt ceiling is always shoved aside.

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