Even as Republicans dig in their heels to do battle over the debt ceiling, a Washington Post columnist told Fox News that the party is “insane” to choose this fight.
Journalist Marc Thiessen appeared on FNC’s “Special Report” Thursday to discuss the showdown with host Bret Baier. The host noted that there are some strong numbers coming out on the current economy, but yet there are still warning signs that all is not well.
If President Biden is so eager to speak on the economy, then he should set a date to discuss a responsible debt ceiling increase.
We must finally address Washington’s irresponsible government spending if we want to put America on a better fiscal path.
— Kevin McCarthy (@SpeakerMcCarthy) January 26, 2023
Thiessen cautioned that there are some in Washington who are “celebrating a little early and overselling the case.” He reminded viewers that most Americans believe the economy is not doing well. Furthermore, voters blame Biden for the lack of a strong economy.
Even so, the president is on record this week asserting that he will not allow the GOP to “use the full faith and credit of the United States as a bargaining chip.”
It was then that Thiessen admonished congressional Republicans for picking a fight over the debt ceiling. Many experts predict a recession for later this year, and as things currently stand the blame would fall squarely on the White House.
A protracted squabble over raising the debt limit could change that in a hurry, he asserted. If the GOP takes ownership of the economy away from the president, economic damage done by a government shutdown would fall squarely at their feet.
And that, Thiessen, argued, would give the Democratic president ammunition to say that the downturn is the fault of Republicans. It was then that he put the current battle into a historical context.
The Post writer pointed out that “Republicans tend to lose elections after debt ceiling fights.” Back in 1995, they waged war with then-President Bill Clinton, and the next year the Democrat won his reelection bid.
Flash forward to 2011 and the GOP “picked a fight with Obama. Obama won reelection.” Thiessen concluded that engaging in a battle over the debt ceiling would not only damage the U.S. economy, but it would also hamper the party’s efforts to win back the White House.
Thiessen made several valid points. Republicans should proceed with caution in their efforts to force the White House to concede spending cuts for a debt ceiling deal. Biden may be licking his chops at political leverage to be gained by pinning economic damage onto his opponents.