November 30, 2022

DEFUSED: Here’s Elizabeth Warren’s plan to prevent GOP from blowing up the economy

DEFUSED: Here's Elizabeth Warren's plan to prevent GOP from blowing up the economy

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Senator Elizabeth Warren (D-MA) says she backs a proposal to get rid of the debt ceiling that Republicans use to threaten to shut down the government every chance that they get.

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In an interview with Meet the Press’s Chuck Todd, the former presidential candidate told the MSNBC host that the debt ceiling “serves no function except to create leverage for people who are willing to blow up the economy.”

“If the Democrats take the House, then there’s no urgency around this,” she said. “But no matter what, the United States of America has to honor its outstanding obligations. Me, I’d get rid of the debt ceiling altogether.”

“And that’s the problem we’ve got right now. Many of these new Republicans who are coming in are people who are coming in with exactly one goal: get Donald Trump elected in 2024. And they see that if they can create chaos in the economy, then they think that may move Donald Trump one inch closer to election,” Senator Warren explained.

“So we’ve got to take that away from them … [and] during the lame duck, take care of raising the debt limit,” she added. “Or getting rid of it altogether. I’m there.”

In an op-ed for the New York Times Senator Warren outlined the meaningful legislation passed by Democrats in both chambers – and why they shouldn’t rest on their laurels. Warren warned of the Republican Party’s plans if the GOP takes the House.

“If Republicans take the House, their majority will be stacked with election deniers who have embraced one overriding goal: the restoration of Donald Trump as president in 2024. They believe economic chaos weakens President Biden, so they are itching to use their leverage to hurt working families. This is the same strategy Republicans used after the 2010 midterms when they set off a debt-ceiling crisis, then demanded family-crushing austerity,” Warren wrote.

“Democrats should fight back by making this lame-duck session of Congress the most productive in decades. We can start by lifting the debt ceiling now to block Republicans from taking our economy hostage next year. Democrats must then continue delivering for families. Where we can pursue legislative action, we should fight aggressively.”

Republicans have threatened to default on the nation’s debt in an attempt to force Democrats in the legislature to agree to cuts in Social Security and Medicare – but this is nothing new. They played the same game after Biden’s inauguration, in an attempt to block the newly-elected president’s economic plan for the country – and Senator Warren called them out on it.

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A lame duck session is a gap between election day and when the new Congress commences with the swearing-in of the newly-elected legislators.

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With control of the House up in the air, the Massachusetts spit-fire is smart to want to take advantage of the current House and Senate majorities, and raise the ceiling. America’s two strongest safety nets for seniors and the disabled are depending on it.

Original reporting by Brad Dress at The Hill.

Follow Ty Ross on Twitter @cooltxchick

Ty Ross

News journalist for Washington Press and Occupy Democrats.

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