Standing Up Against Debt Blackmail

Joe Conason on Jan 20, 2023

Appropriately enough, the renewal of the debt ceiling debate is coinciding with the 30th anniversary of the inauguration of Bill Clinton, the only president in living memory who actually reduced deficits and debt. He did the opposite of Trump, raising taxes on the rich and setting the country on a path toward budget surplus (until the Republicans returned to power and blew it all).

The last time congressional Republicans (including McCarthy) made menacing noises about the debt ceiling was in 2011. Clinton wisely urged President Barack Obama to stand firm -- just as he did when congressional Republicans led by Speaker Newt Gingrich tried to kill Medicare. Ultimately even the impetuous Gingrich refrained from threatening a debt default, although Clinton knew that his nemesis had considered deploying that terror tactic.

"I think (the Gingrich Republicans) figured I'd be smart enough to explain to the American people that they were refusing to pay for the expenses they had voted for when Ronald Reagan and George H.W. Bush were president," Clinton recalled in 2011. "And that would make them look bad."

"The Constitution is clear and this idea that the Congress gets to vote twice on whether to pay for (expenditures) it has appropriated is crazy," he added. "You can't say, 'Well, we won the last election, and we didn't vote for some of that stuff, so we're going to throw the whole country's credit into arrears."

Clinton took the measure of the crazies on Capitol Hill during his second term, facing them down during two government shutdowns. He wasn't impressed by their sudden enthusiasm for balanced budgets, and he knew that standing up to their bullying and lying was the only way forward. Biden should study and heed the example.

The urgency may be even greater, with the current gang of Republican extremists even more reckless than their irresponsible predecessors.

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