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Discussions in Congress have left us with fresh news. Senate Democrats accepted Minority Leader Mitch McConnell’s proposal to extend the debt ceiling through December, as long as a fixed dollar amount is signaled.
McConnell said the proposal was intended to “protect the American people from a near-term Democrat-created crisis.” The deal avoids a vote to suspend the debt ceiling until the end of 2022, which Republicans were expected to block.
The GOP wants to bear no responsibility for this debt increase and is looking for the Democrats to pay some political price for the trillions they have spent and want to continue spending. For that reason, instead of taking place on raising the debt ceiling, they have insisted the Democrats use a process called “reconciliation”; so that the issue will pass with a simple majority. But the idea does not suit Biden’s party.
For now, McConnell’s proposal gives both parties breathing room. The senator from Kentucky said it would allow Democrats to take enough time to extend the debt ceiling on their own. With that, they won’t be able to blame Republicans.
Meanwhile, the Democratic Party will spend this time trying to push through the infrastructure bill and the multi-billion dollar spending plan that they still can’t agree on. What a tough fight between the extreme left and moderate Democrats like Manchin and Sinema!
We will see how this important fight on Capitol Hill turns out, but in any case, what is urgent is for every American to understand that money does not grow on trees and that the runaway spending path the United States is on is very dangerous.
Vanessa Vallejo. Co-editor-in-chief of El American. Economist. Podcaster. Political and economic analysis of America. Colombian exile in the United States // Vanessa Vallejo. Co-editora en jefe de El American. Economista. Podcaster. Análisis político y económico de América. Colombiana exiliada en EE. UU.