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Politics Mitch McConnell shrugs off Trump's taunts and attempts to defuse the debt ceiling crisis

10:29  19 november  2021
10:29  19 november  2021 Source:   businessinsider.com

Donald Trump and Mitch McConnell's Relationship Is Rapidly Deteriorating

  Donald Trump and Mitch McConnell's Relationship Is Rapidly Deteriorating McConnell has said Republicans shouldn't make the 2020 election an issue in the upcoming 2022 midterms.Trump issued a statement on Wednesday criticizing McConnell for supporting the bill and calling him an "old crow," while McConnell again said that the upcoming 2022 midterm elections would likely be "about the future and not the past.

Former President Donald Trump (L), Senate Minority Leader Mitch McConnell (R). Scott Olson/Getty Images; Drew Angerer/Getty Images © Provided by Business Insider Former President Donald Trump (L), Senate Minority Leader Mitch McConnell (R). Scott Olson/Getty Images; Drew Angerer/Getty Images
  • Mitch McConnell met with Chuck Schumer on Thursday to discuss raising the debt ceiling.
  • This comes after an October showdown when McConnell maintained that Democrats must raise the debt limit alone.
  • On Wednesday, Trump criticized McConnell for caving and helping the Democrats.

With less than a month left to raise the debt ceiling before the US ceases to be able to pay its bills, Mitch McConnell appears to be having a change of heart about helping Democrats out of this pickle.

Democrats think GOP will blink in newest debt brawl

  Democrats think GOP will blink in newest debt brawl Congress is headed into another nasty fight to raise the debt limit that has no resolution in sight. Treasury Secretary Janet Yellen told congressional leaders Tuesday that the federal government could default on its debt soon after Dec. 15 without action to raise the federal borrowing limit.Senate Democrats are ruling out the possibility of using the special budget reconciliation process to raise the debt ceiling with only Democratic votes. But that means they'll need some help from Senate Republicans, setting up another standoff over government spending next month. "We must pass the debt limit.

This comes after Trump called McConnell a "Broken Old Crow" in a Wednesday statement for agreeing to a two-month extension of the debt-ceiling limit back in October.

"He could have won it all using the Debt Ceiling—they were ready to fold," Trump wrote. "Now the Democrats have a big victory and the wind at their back."

But that victory was short-lived. Congress now has until December 15 before the Treasury potentially runs out of money to pay the country's bills. Though he's expressed resistance to aiding Democrats lift the debt limit, McConnell briefly met with Senate Majority Leader Chuck Schumer on Thursday to discuss strategies to take address it before the deadline.

This is a notably different approach than the one from earlier this fall, when McConnell remained adamant it was Democrats' jobs to raise limit but consistently blocked every attempt by Democrats to do just that. He waited until the very last minute in October to step in and help. He vowed he would not step in again.

Republicans are poised to play debt-ceiling chicken with Democrats again — and endanger the world financial system in the process

  Republicans are poised to play debt-ceiling chicken with Democrats again — and endanger the world financial system in the process For the second time this fall, Congress is split over raising the debt ceiling. The stakes couldn't be higher, but Republicans refuse to play ball.The deadline to raise or suspend the debt ceiling is weeks away. Democrats say the responsibility to avoid a catastrophic default on America's debt is bipartisan, as it has been the 78 times Congress has avoided it before. Senate Republicans, however, are withholding their support. They argue that Democrats need to go it alone if they want to spend trillions on President Joe Biden's economic agenda.

"The best way to characterize it is we're going to be discussing the way forward," McConnell told Politico ahead of a meeting in Schumer's office.


Video: Rep. Yarmuth: Mitch McConnell is ‘shameless’ (MSNBC)

McConnell's change of tune

On October 6, McConnell paved the way for 11 Republicans to vote to suspend the debt ceiling an additional two months, but at the time he made clear his help will not be available when Democrats need to confront the issue again in December.

He said at the time that his help would "moot Democrats' excuses about the time crunch they created and give the unified Democratic government more than enough time to pass standalone debt limit legislation through reconciliation."

For months leading up to the suspension, though, Schumer and Speaker of the House Nancy Pelosi said raising the debt limit should be a bipartisan task, and with Thursday's meeting, a showdown as seen in October may be avoided.

Trump launched an angry attack on Mitch McConnell, urging him not to work with Democrats to stop the US defaulting on its debts

  Trump launched an angry attack on Mitch McConnell, urging him not to work with Democrats to stop the US defaulting on its debts Trump threatened further attacks on Mitch McConnell unless he takes a hardline path on suspending the debt ceiling, due to expire in December.In a rambling statement Wednesday, Trump called McConnell a "Broken Old Crow" for agreeing to a temporary, two month, extension of the debt ceiling limit back in October.

"We had a good discussion about several different issues that are all extant here as we move toward the end of the session and we agreed to keep talking and working together to try to get somewhere," McConnell told HuffPost following the meeting.

Treasury Secretary Janet Yellen earlier week said that after December 15, she is not confident the Treasury will have the resources to fund the government and stressed the need for the matter to be addressed in a bipartisan way.

"Should it be done on a bipartisan basis? Absolutely. Now, if they're not going to cooperate, I don't want to play chicken and end up not raising the debt ceiling," Yellen told The Washington Post. "I think that's the worst possible outcome."

But Senate Republicans aren't budging from their demand for Democrats to lift the debt ceiling through reconciliation, a party-line process that could stretch two weeks. Still, there may be signs that the GOP may try to make it somewhat easier for Democrats to undertake the process unilaterally.

"They can do it," Sen. Pat Toomey of Pennsylvania told reporters on Thursday. "I've suggested that Republicans would yield back time and not drag it out. I'm confident we would do that."

Read the original article on Business Insider

How Debt-Ceiling Brinkmanship Is Like Nuclear Brinkmanship .
When both sides think catastrophe will always be averted, each behaves more rashly.Tensions between Democrats and Republicans on Capitol Hill have cooled after a temporary extension of the debt limit last month, but they could quickly escalate as a new deadline looms in mid-December. If the possibility of default is anything other than zero, it will happen if debt-ceiling chicken is played enough times.

usr: 0
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