Prior to the rise of the far right wing of the Republican Party, the debt limit increases were properly seen as simply allowing payment for activities approved by Congress. The far right lassoed the Party a decade ago and decided to use the debt limit increases as a way to force its agenda because they knew most of was it DOA in Congress. Obama capitulated to their debt limit hostage taking in 2011 and lived to regret it. The mere threat of a default in 2011 caused a reduction in the federal government credit rating, roiled international financial markets, and rocked our economy at the time. Biden is right to refuse a replay of 2011 in this now game of debt limit Chicken. All it will take is a few Republican defections from the far right debt limit madness to avoid a default. It bears repeating that the far right so-called House Freedom Caucus has no interest in governance other than seeking destruction of as many federal programs as possible minus defense. The House can already curb spending by cutting appropriations bills as they come up for a vote. Rant over.
