Debt ceiling D-Day is June 1

We’ve been following the looming debt ceiling crisis since January. At that time, the U.S. federal debt ceiling, limited by law, was reached, and the government began to take so-called “extraordinary measures” to keep things running as is without going into default. However, the problem has not been solved, and it is rapidly coming to a head. U.S. Treasury Secretary Janet Yellen says that if Congress doesn’t pass a law extending the debt limit by June 1, the “extraordinary measures” will run out and we will begin to go into default. That could cause catastrophic economic results, including a deep recession, a stock market crash, a spike in interest rates, and the government’s inability to send out Social Security checks, or make interest payments on Treasury bonds.

Some people say the Republicans want to blow up the U.S. economy this way. The theory is that the Republicans, who number in the minority, can only take back the White House and full control of Congress via this big gamble of (1) crashing the economy and (2) blaming President Joe Biden and the Democrats for the crash. To that end, Republicans are holding the debt ceiling, which is the bill that must be paid for past spending, hostage to budget demands for massive cuts in future spending for veterans, the environment, renewable energy, student loan forgiveness and other crucial items, even though these are two completely separate legislative processes. Republicans may think they can get away with such hostage-taking in part because the mainstream media notoriously play the “both sides at fault” game, or even worse, may be more inclined falsely to blame President Biden for the current crisis and its possible consequences.

GOP House Speaker battle looked like this

Republicans don’t know how to govern effectively, but they do know how to grab the media spotlight. This was demonstrated during the recent Republican battle for U.S. House Speaker. After narrowly winning the House majority in the 2022 midterm elections, the GOP’s first task in the new year was to elect a Speaker. They failed miserably at this job, requiring a historic 15 votes before finally electing Kevin McCarthy.

But what seemed to get everyone’s attention were the 20 or so Republican House representatives-elect, many of whom are members of the so-called “Freedom Caucus,” who battled against McCarthy’s speakership, and at least one who fought on McCarthy’s side. The members who seemed to be on camera or in front of microphones all the time especially included Marjorie Taylor Greene and Matt Gaetz. Others on hand to a slightly lesser extent were familiar names such as Lauren Boebert and Jim (“Gym”) Jordan, so nicknamed because of his alleged involvement in a sexual abuse scandal involving wrestlers at Ohio State University. We’re not going to mention these names again in this post. Such representatives are known more for being superficial blowhards who say outrageous things rather than for the often dull but crucial work of legislating.

In short order, the GOP House Speaker election became about Republican media stars rather than about policy and substance. Such camera-hogging tactics worked, as McCarthy reportedly had to make numerous concessions to these members in order to secure their votes. What we call the GOP Civil War, also known as Republicans in Disarray, was on full, ugly display. But we already saw how a media celebrity made it into the White House six years ago, and the disastrous results that followed. The last thing we should do is feed that shallow, destructive process again by focusing our full attention on those Republican media hustlers.