• Republicans are instigating a debt ceiling drama without any real interest in the national debt or deficit reduction.
• Trump, Vance, and Mace have all ruled out cuts to Social Security and Medicare, and the Freedom Caucus rejected Manchin’s proposal for a bipartisan commission.
• There is an established process for cutting discretionary spending, but Republicans have not taken advantage of it.
• Ryan and Trump wanted to cut Medicaid, but the ACA expansion put a stop to that.
• A bipartisan commission could be a good idea, but it would require Republicans to agree to tax increases.
• The Chicago Model of issuing high-coupon bonds could be a promising way for the executive branch to keep the country running.
Published January 26, 2023
Visit Slow Boring to read Matthew Yglesias’s original post Republicans can’t even explain what they’re trying to do with the debt ceiling
