Ruben Bolling 🪲Jan 23, 2023
Both parties have held the debt ceiling hostage as a political tool. For example, in 2011, the Republicans did it. But in 2013, the Republicans did it. On the other hand, this year it is the Republicans who are doing it.
Show threadWGAvanDijkJan 23, 2023
@rubenbolling
It seems in 2006 the Democrats, including Joe Biden, used it as a political tool. I think it's stupid by either side to use it as a political tool.
https://www.nytimes.com/2021/09/28/us/politics/debt-ceiling-democrats-republicans-history.html
How the Debt Ceiling Came to Be a Political Cudgel

The current fight over raising the debt limit is proving to be another lesson in American political dysfunction.

Show threadkwhJan 23, 2023
@rubenbolling @WGAvanDijk not at all accurate. In 2006 the Republican House had engaged the “Gephardt Rule” to engross the debt ceiling increase together with the budget, allowing House R’s to avoid being on-record voting for the ceiling increase. The senate at that time was 55 Rs, 44 D, 1 Independent.
Show threadkwh

@rubenbolling @WGAvanDijk On 16 MAR 2006 the resolution was voted in the Senate, and Obama gave a brief speech challenging earmark spending. The ceiling passed by 52/48, with 52 Rs in favor, all Ds and several Rs against.

So it is political in the mere sense that there was one speech and a doomed vote against it, there was no chance of government shutdown or defaulting on debt payments, and Ds were not in control of anything.

Jan 23, 2023 at 5:45pmWeb
Show threadkwhJan 23, 2023
@rubenbolling @WGAvanDijk Ds would take control of congress shortly after in 2007, and the debt ceiling was raised 3 more times by a Democratic Congress for a Republican President, without any politics, but at the time the global economy was also imploding and government spending was needed to avoid disaster.
Show threadWGAvanDijkJan 23, 2023
@kwh561 @rubenbolling
I must admit, I just did a quick search on Googlew, saw that it seemed that the democrats did this too, and posted like a moron.
Show threadWGAvanDijkJan 23, 2023
@kwh561 @rubenbolling
I am Dutch, and my country, The Netherlands, does not have a problem like that. \Our debt is small compared to that of the USA, and since we are excellent traders and negotiators, we have traded our debts for smaller debts, and are now doing quite nicely. I mean, in the past 5 years, we had months in which we had negative interest for state loans, which mean, people who loaned money to The Netherlands, had to pay to The Netherlands for being allowed to loan to us.
Show threadWGAvanDijkJan 23, 2023

@kwh561 @rubenbolling
Nice money coming in that way.

OK, well,
now that has ended thanks to Russia, but we're still doing nicely.

Show threadkwhJan 23, 2023

@WGAvanDijk @rubenbolling it’s no problem, the “debt ceiling” debacle is basically a foolish vestige of the past and an impediment of functioning government.

Imagine if you should step into a restaurant, and order a fine large meal, and after you’ve eaten it, they ask for your payment.

Show threadkwhJan 23, 2023

@WGAvanDijk @rubenbolling You have no cash and no cards, and so you say “instead of finding a way to pay you, I am going to shut down this restaurant and block the door for weeks until I finally decide to phone a friend and borrow a few dollars to pay you.”

This is how idiotic it is, to vote and authorize spending and all that depends on it, and then refuse to ensure the means of how that spending is paid for.

Show threadkwhJan 23, 2023
@WGAvanDijk @rubenbolling Republicans use this to continue the debate - they know their constituents depend just as much on spending and social programs, so they vote to allow the spending, then they argue that the spending is too much because of “other people” (poor and minorities) getting more than they deserve.
Show threadkwhJan 23, 2023
@WGAvanDijk @rubenbolling So they try to blame the chaos of shutdown on that, however when they have power over the budget, they expand deficits to provide rich/corporate tax cuts and earmarks.