The Hill reporters Erik Wasson and Alex Bolton each had a unique
perspective on the debt talks coming out of the weekend with regard to
Senate Minority Leader Mitch McConnellMitch McConnellOvernight Finance: Trump takes US out of Pacific trade deal | WH says Trump has left his businesses | Lobbyists expect boom times McConnell to Dems: Work with us on GOP's 'formidable' challenges McCain: Trump's withdrawal from TPP a 'serious mistake' MORE’s (R-Ky.) “plan B.” This, of
course, is the fallback plan that would give President Obama the power
to raise the debt ceiling on his own, with a few caveats and demands
along the way.
The more I study this, the more I agree with those Wasson interviewed regarding the outcome. Nothing good, neither politically nor policy-wise, can come of this effort.
Yes, the plan would raise the debt ceiling, but at what cost?
First of all, I fear McConnell’s motivations for granting this authority to the White House are less than noble. If pressed, I think McConnell himself would agree he’s trying to score political points on this and help his Republican counterparts in the House.
But this fallback plan has no long-term intentions or goals. Like most initiatives coming out of both the House and Senate, it merely kicks the can down the road, all while “sending a message.” We don’t need any more of those types of negotiations.
I’m glad the likes of Sen. Marco RubioMarco RubioOvernight Energy: Senate panel clears Tillerson for State Senate panel votes to confirm Tillerson Overnight Defense: Trump nominates Air Force secretary | Senate clears CIA director | Details on first drone strike under Trump MORE (R-Fla.) told The Hill’s Bolton, “The problem isn’t the debt ceiling, it’s the debt.” Truer words have never been spoken.
If the rank and file on both sides of the dome get this, how come the leadership does not?
Just look at Senate Majority Leader Harry ReidHarry ReidFranken emerges as liberal force in hearings GOP eyes new push to break up California court The DC bubble is strangling the DNC MORE (D-Nev.). He’s been going along with the McConnell fallback option. That alone should tell you something’s not right. It’s clear he’s willing to give the president an increase at all costs, which is another reason to oppose this effort.
The lesson heading into this week is still the same one from weeks prior — there is no “quick fix,” and it certainly won’t be easy.