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McConnell blunders on debt ceiling

McConnell blunders on debt ceiling

As a practical matter, Congress has to raise the debt ceiling if they overspend.  It is like having one of those credit cards where you can go past your limit.  Once you do that, you may regret spending so much, but you have top still pay off the credit card.  The only difference with Congress, is they never regret over-spending.

The Debt Limit is supposed to be a safety measure to prevent excessive spending, but it is more of a joke than a real barrier.  The only negative consequence is that the two major parties have to embarrass themselves periodically by publicly voting to raise the limit.

And even in that, Congress is discussing the idea of shedding their fiscal responsibilities by not having a debt limit – or allow the President to waive it.  That would be consistent with Congress’ not producing a budget, no longer having to vote on their own pay increases and creating entitlement programs that must be funded.  The House — which is the primary manager of federal spending — has totally abrogated its constitutional responsibilities.

Addressing the need to increase the Debt Ceiling as become the latest clown act in the congressional circus.

Back in October, Senate Minority Leader Mitch McConnell proclaimed that the Republicans in the Senate would no longer support the raising of the Debt Ceiling.  It would have to be raised, but McConnell declared that the Democrats would have to do it on their own – and the only method was through the Reconciliation process.

At the time, I wondered how McConnell was going to prevail.  It did not seem like a workable strategy.

Weeell … it did not take long before McConnell had to start to cave.  Senate Majority Leader Chuck Schumer refused to take the bait.  He challenged McConnell to destroy the full faith and credit of the United States for first time ever.

Schumer did nothing until it was too late to use Reconciliation – which takes time on the legislative clock.  At that point, the point of default could not be avoided unless McConnell put some Republicans on raising the Debt Ceiling.  Which he did — only advancing the Debt Ceiling for a few weeks, to mid-December.

With the new deadline approaching, McConnell must have realized that Schumer would put him into the same box … again.  Consequently, McConnell made no more threats, no more pronouncements that the Democrats will have to go it alone.

Since Congress has little to no choice in terms of raising the Debt Ceiling, McConnell’s earlier gambit made no sense.  It was a fumble by a guy who has a well-deserved reputation for being a shrewd legislative leader.

Despite McConnell’s mistake, I think the cheap shots from Trump and Congresswoman Marjorie Taylor-Green against McConnell are not beneficial to anyone but the Democrats.

That, of course, leave the real issue unresolved – Congress’ habit of overspending.

So, there ‘tis.

About The Author

Larry Horist

So,there‘tis… The opinions, perspectives and analyses of Larry Horist Larry Horist is a businessman, conservative writer and political strategist with an extensive background in economics and public policy. Clients of his consulting firm have included such conservative icons as Steve Forbes and Milton Friedman. He has served as a consultant to the Nixon White House and travelled the country as a spokesman for President Reagan’s economic reforms. He has testified as an expert witness before numerous legislative bodies, including the U. S. Congress. Horist has lectured and taught courses at numerous colleges and universities, including Harvard, Northwestern, DePaul universities, Hope College and his alma mater, Knox College. He has been a guest on hundreds of public affairs talk shows, and hosted his own program, “Chicago In Sight,” on WIND radio. Horist was a one-time candidate for mayor of Chicago and served as Executive Director of the City Club of Chicago, where he led a successful two-year campaign to save the historic Chicago Theatre from the wrecking ball. An award-winning debater, his insightful and sometimes controversial commentaries appear frequently on the editorial pages of newspapers across the nation. He is praised by readers for his style, substance and sense of humor. According to one reader, Horist is the “new Charles Krauthammer.” He is actively semi-retired in Boca Raton, Florida where he devotes his time to writing. So, there ‘tis is Horist’s signature sign off.

19 Comments

  1. Ben

    McConnell has also endorsed the J6 committee work. Now, as a center left democrat, I detest McConnell, but I will give him props as a shrewd politician. More than can be said for the Qult leader trump. Trump over played his hand when he attacked McConnell. Now it’s time to pay the piper.

    Again Larry, unlimited funding for unnecessary wars, but god forbid we be able to pay our bills

  2. frank stetson

    Hmmm, Larry, Mitch got played by Chuck. Well, knowing Mitch, he must have known it a possibility. IMO, the debt ceiling is a historical anachronism created for other purposes and now used as the weakest leverage possible with a PR twist. Technically, it’s allowing for expenditures you have already authorized expending, or have already authorized and spent. It’s the authorization where the rubber meets the road, the debt ceiling is just kabuki theater. Therefore, your “As a practical matter” lead seems a tad polite. There is nothing practical about the debt ceiling.

    One of Congress’ main responsibilities is spending. The results are a mixed bag; nice place to live and grow but IMO, we suck at budgeting and spending. I think we agree here that we can do much better.

    The debt ceiling is just pageantry for the pundits; the thought of default is enough to move markets, and no one has made a profit in that action.

    So, good article, both sides suck on this, they ought to fix it, but throwing debt ceiling feces seems more fun for them. Poor Mitch chose to hurl upwind in a hail storm.

    Last thing. You said: ” I think the cheap shots from Trump and Congresswoman Marjorie Taylor-Green against McConnell are not beneficial to anyone but the Democrats.” Really, measuring the relative value of these comments, concluding just a cheap shot? Come on Larry, this mistake of a Congresswoman said: “Mitch is Biden’s bitch.” That’s totally inappropriate language from Congress. I mean it’s one thing in the back room with da boys, but for the media? It’s Congress. She’s one of 100 top leaders of our land. Why, Kevin should……..oh never mind. Many Congresspersons have no character; she is easily in the top ten. She should be speaking from the mountaintop. Instead, she cries out from the gutter. She makes Trump look Presidential, even he did not stoop so low. I think we all have to just say no to this crap and to the lies. It’s not a cheap shot, it’s not below the belt, it’s totally uncalled for and wrong. We need to judge our leaders on character, not just how they make us laugh, bully others, or say things from the pundit pulpit we really don’t want our kids to hear. Enough of the sideshow, bring real leaders back to Congress. I want to respect Republicans again, even if I disagree. And I am more than willing to call out any on our side of the aisle that stoop this low.

    • Maria

      Why don’t you give it a try Mr. Stetson?

      Start with Maxine, then to the Quartet, then to the one sleeping with a Chinese spy, then with and then…

      The old saying somebody pointing at one with a straw in the eye, forgetting about the ‘log’ in his…?

  3. VIETNAM VET 67-68

    tTHE NEW COMMUNIST/MUSLIM PARTY KNOWS ONLY ONE THING BURY THE MIDDLE CLASS AND POOR, TAXES, TAXES TAXES AND PRINT TRILLIONS OF DOLLARS AND ALLOW VIOLENCE FROM COMMUNIST RUN ORGANIZATION OWNER GEORGE SOROS WHO FUNDS ANTIFA AND BLM WHO HAVE CAUSED OVER TWO HUNDRED MURDERS, BILLIONS IN DAMAGE TO BUSINESS, BUILDINGS AND HOMES AND TEARING DOWN STATUES TRYING TO DESTROY OUR PAST !! THOSE WHO FORGET THE PAST ARE DOOMED TO REPEAT IT, CLAIMING SLAVERY WHEN AMERICA INHERITED SLAVERY AND IS THE ONLY COUNTRY TO FIGHT A WAR TO END SLAVERY!! IF YOU WANT TO BLAME THE RIGHT PEOPLE ITS YOURSELVES VOTING FOR SLAVERY EVERY 4 YEARS CALLED THE FORMER DEMO-RAT PARTY THAT HAS DONE NOTHING FOR THE BLACK PEOPLE IN AMERICA. THEY WERE AND ARE THE SLAVERY PART AND YOUR TOO DUMB TO REALIZE IT, CHECK OUT THEIR VOTING RECORD AND SEE DURING THE 60s AND 70s THEY VOTED AGAINST EVERY BILL TO HELP BLACKS. THEY HAVE DONE NOTHING SINCE AND ARE FLOODING THIS COUNTRY WITH ILLEGAL ALIENS FOR CHEAP LABOR AND YOUR JOBS. VIETNAM VET 67-68

    • Miles collins

      That’s why Ben keeps a pet Muslim in his family.

      • Ben

        Miles,
        Thank you for donating to CAIR! They appreciate your donation and will use it to fight anti Muslim bigotry.

        Larry, you still think racism doesn’t exist? You still think your dead grandson didn’t face racism every day? Your own readers seem to prove your post racial utopia only exists in faux tv land

  4. frank stetson

    WHERE DID YOU SERVE IN VIETNAM? WHAT OUTFIT?

    HOW DOES SOROS FUND ANTIFA? WHICH BLM DOES HE FUND? SOUNDS LIKE FAKE NEWS

    PRINT TRILLIONS OF DOLLARS? LARGEST DEFICIT EVER WAS UNDER TRUMP. BUSTED.

    WHAT MIDDLE CLASSS TAXES? NOT UNDER BIDEN…….YET THIS IS JUST NOT TRUE

    YOU DO KNOW THAT MOST TORN DOWN STATUES ARE NOT TORN DOWN BY BLM OR ANTIFA, YOU JUST LIED…..

    AMERICA INHERITED SLAVERY? FROM WHO, NATIVE AMERICANS? THIS IS A CROCK

    WOW, CAN’T EVEN TRY TO REFUTE THE REST, IT’S GIBBERISH.

    SORRY FOR THE ALL CAPS RUDENESS. JUST TRYING TO SPEAK A LANGUAGE THIS “GENTLEMAN” SPEAKS.

    • larry Horist

      Frank … Never good to indulge in the in the behavior your criticize. Puts you on the same level. I learned that at a very young age from my mother.

  5. AC

    Larry, Ben, Frank
    It must be the season, peace on earth and good will to all people. You three appear to be on the same page. Ironically agreement is on Mc Connell and about face doing that which he knew displeased Trump. However, he did the practical thing I’m disagreeable circumstances.
    So, it’s a banner raising moment. Some degree of peace is possible and in that is a smidgeon of hope . Adults are in the room and let civility reign and prosper.
    At this moment Joseph must be in the wings stage left preparing his entrance into the conversation. Other responders could be lurking about as well. But, whatever others will chime in with, the present state of unity among you three is commendable in deed. Congrats, well done

  6. bob

    Pincha McConnell is becoming even more of a chingus RINO !!! He’s all for the circus of the Jan. 6th committee and the clowns that are performing in it !!! Asswipe McConnell used Presidents Trumps coattail to win his re-election , then after getting re-elected , he backstabbed Trump big time . Conservative Republicans are done with McConnells back stabbing ways .

    • Ben

      Bob,
      So you’re mad that McConnell played trump? Used him like a cheap whore? What’s that say about trump? trump over played his hand and went against a true politician. Now, I HATE McConnell, but watching him play trump like a fiddle is hugely rewarding.

      • Maria

        Ben, I can see with you and others, that as long as Trump is the punch bag receiver everything is dandy with you. ”cheap whore ah?

        ”The true politician” can lie, shrew anything, all fair with you, but not if Trump does it, ah?

        Whose poet said: ”justice of men, I searched for you, but the facts denies you”.

        • frank stetson

          Maria, cute, but maybe if you just stick to the facts a discussion may be had. Otherwise, keeps those quotes and thoughts coming, really think they are inspirational.

  7. john fudacz

    mconnell is a traitor to republicans and the american people, destroying the future of this nation

    • frank stetson

      Traitor for supporting a 1/6 investigation? You say that makes him a traitor to the American people. What does that make you? You say he is a traitor to Republicans. Then what are Republicans today?

      McConnell said: ““It was a horrendous event and I think what they are seeking to find out is something the public needs to know,” McConnell said in an interview with Spectrum News.” Mr. Fudacz thinks that’s traitorous. So I guess he does not think the event horrendous or that the public needs to know any more. Somehow, I just don’t see the patriotism in 1/6 or Mr. Fudacz statements.

      Not to worry, it changes nothing, the investigation goes on. The real traitors are being locked up for longer and longer sentences as we work our way up the food chain. And soon, we will see what the current investigation uncovers. I have loved the tweets, can’t wait for the emails and dare Trump to testify. The pussy won’t because he can’t go two minutes without a lie and that would really hurt in this forum. Just the same reason he never goes to court.

    • Ben

      John,
      If McConnel is a traitor, why do the fine people of Kentucky continue to re-elect him for the last 30 yrs… oh wait, never mind.

      • frank stetson

        I think this from a 1997 NYT piece says it all: “Doctors in Kentucky have issued a warning that people should not eat squirrel brains, a regional delicacy, because squirrels may carry a variant of mad cow disease that can be transmitted to humans and is fatal.” FYI — I think the mad cow part was disproven, the NYC Kentucky transplant Doctor’s house was shot a few times, I think he skedaddled.

        Moscow Mitch needs to be careful; he’s acting a bit squirrelly lately :>)

  8. AC

    Frank,
    Thanks for holding the true fact line.
    Vietnam Vet, I respect vets for their sacrifice and time served. Even so, the many I know personally who spent time in country and made it home and physically whole. They did not return unscathed emotionally. Rare are Vietnam vets who are willing to talk about their experiences of combat and life lived waiting. Given their current age, vet who served in Vietnam under combat circumstances are my contemporaries. They have long ago moved, on not interested in revisiting the past ugliness experienced.
    A common thread for Vietnam vets who actively served there is a spirit of skepticism and cynicism.
    These two negatives to not make positive, unless their energy is harnessed into a driven nature in a person ready to accomplish something positive.
    However, friends of mine from back in those days really did not cope well in civilian life. Overcoming their war experiences proved to be more difficult than anticipated. It produced terror, self loathing, paranoia, and resistance to assistance and help.
    Today, in our politically over charged culture these vets lean to the right, politically. Their younger veteran counterparts also go that direction, politically.
    I do not judge the right or left for their political choice. How each behaves no matter their politics must be civil. Difference in opinion is democracy at work. Belittling others for a difference of open is uncalled for. Arguing points of fact and truthfulness goes with the territory,. Reaching an agreement or finding some footing on common ground is a bonus.
    Do good and live long, There ‘tis.

  9. Jerold

    Can someone recommend View All Dresses? Thanks xx