Treasury Secretary Yellen Was Right: Democrats Should Have Raised Debt Ceiling in 2022

Now Democrats Need Reject Bad Republican Deal, and Biden Issue Executive Order to Treasury to Keep Borrowing to Avoid Default

The New York Times reports that Treasury Secretary Yellen urged Democrats to lift the statutory debt ceiling in 2022, but they failed to act.

Now Democrats face three choices: continue negotiating with Republicans knowing the result will be a bad deal, acquiescing to a bad deal giving Republicans a big win for economic hostage taking, or three get a backbone and stop negotiating and have Biden issue an Executive Order to Treasury to keep borrowing to fund all Congressionally authorized programs and activities. Biden can issue that Order under Section 4 of the 14th Amendment and his obligation as President to see thst all laws are faithfully executed as Congress intended by their prior votes.

If Democrats continue down the negotiating path they will end up with a bad deal dictated by Republicans and their far right wing. Why would Democrats want to embolden the Republican economic hostage takers and reward their obstructionism?

If Biden succumbs to a bad deal, he may find that Democrats in Congress will not vote for it. So he can get caught caught in a trap where he is fighting Democrats for their votes for a bad Republican deal while helping to weaponize the GOP hostage takers.

Instead Biden should use his Constitutional powers to order Treasury to keep borrowing to pay our national bills and obligations and do so by invoking Section 4 of the Fourteenth Amendment and his Constitutional obligation and duty to see that all laws are faithfully executed.

If Biden refuses to issue the Executive Order to Treasury, he may find that the reaction could be worse than public reaction to the botched evacuation from Afghanistan. Biden needs to show leadership and guts, and he can do so with an Executive Order. If he enters a deal with Republican economic hostage takers it will be a bad deal that Democrats will not vote for.

If Biden wants to run for re-election in 2024, he needs to show toughness and leadership in 2023. Capitulation to Republicans is not leadership and will result in a negative draining of support among Democrats and independents.