McConnell Seeking 10 Republicans to Suspend Filibuster So Democrats Can Raise the Debt Ceiling: CNN

 

Sen. Minority Leader Mitch McConnell (R-KY) is attempting to sell skeptical Senate Republicans on a plan that would enable Democrats to take a party-line vote that would raise the federal debt ceiling by $2 trillion, according to reports Tuesday.

House Speaker Nancy Pelosi (D-CA) told members of her chamber on Tuesday a legislative proposal to allow Senate Democrats to bypass the 60 votes required to end any potential filibuster could come up for a vote as soon as Tuesday evening, CNN’s Manu Raju noted in a late afternoon report. “It’s going to be folded into a larger bill to avert cuts that are happening to Medicare to make it a little bit easier for Democrats, in particular, to swallow voting for this,” Raju said.

McConnell needs 10 Republicans to assent to the move, which would allow Democrats to avert a federal shutdown — while allowing McConnell to blame Democrats for any consequences associated with raising the debt ceiling in order to accommodate outstanding U.S. obligations, which are presently priced a little higher than $29 trillion.

The federal government is set to default on Dec. 15 if the plan doesn’t succeed. “It could be calamitous, and it comes as Mitch McConnell has made very clear he will do everything he can to avoid a default,” Raju added. “But they do not want to be the ones casting this politically toxic vote, so as part of this deal that was negotiated, Democrats, ultimately, when they vote to raise the debt ceiling, will have to specify the specific dollar amount to raise the national borrowing limit to — so that means it would likely be over $30 trillion.”

The figure by which Democrats are seeking to raise the debt ceiling happens to coincide with the $1.75 trillion in new spending proposed by President Joe Biden’s Build Back Better bill, which his party is also seeking to pass by Christmas. But CNN’s Victor Black chalked the problem up to former President Donald Trump, saying, “We should remind people that this is to pay the credit card bill. This is not for future spending. This is to pay for the unfunded elements that were passed in the previous administration.”

On their website, which fails to explicitly disclose the current debt limit, the Treasury Department defines the limit “as the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments.”

Watch above, via CNN.

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