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To the editor:
The Republican-led House will almost certainly force a default on our national debt primarily because they would rather see our economy collapse, with all the devastating effects on the nation and the American people, than see Joe Biden beat Donald Trump again in 2024.
They mistakenly think this is their only option and strategy to stop the Democrats from winning the presidency, keep the Senate and possibly even win the House. For one thing, House Speaker Kevin McCarthy cannot negotiate in good faith and keep his job. The first reasonable compromise he makes will end his speakership immediately.
“When you get to the intersection of sane and crazy, they (the Trump-controlled Republicans) generally go crazy every time,” Democratic strategist James Carville said.
There are two strategies that might have a chance to stop the default, but in one case the Democrats would need a few Republicans to get the “discharge petition” through to force a vote on a debt ceiling increase without McCarthy’s permission. The second emergency option, a long-shot, is a constitutional challenge under the theory that not paying the United States’ bills would violate the 14th Amendment.
Treasury Secretary Janet Yellen wrote: “If Congress fails to increase the debt limit, it would cause severe hardship to American families, harm our global leadership position, and raise questions about our ability to defend our national security interests.”
We Americans are at a critical turning point. If we default on the national debt, the damage to our nation and all of our allies will be long term and we will all feel the pain. But House Republicans are willing to make us all pay the price. We are fighting an economic civil war.
Michael J. Gorman
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Thursday, May 11 Report this