
<p>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.</p>



<p>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.</p>



<p>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 &#8212; which is the primary manager of federal spending &#8212; has totally abrogated its constitutional responsibilities.</p>



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



<p>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.</p>



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



<p>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.</p>



<p>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 &#8212; only advancing the Debt Ceiling for a few weeks, to mid-December.</p>



<p>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.</p>



<p>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.</p>



<p>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.</p>



<p>That, of course, leave the real issue unresolved – Congress’ habit of overspending.</p>



<p>So, there ‘tis.</p>

McConnell blunders on debt ceiling
