President Biden: End the Republicans’ Manufactured Crisis
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Call Script
My name is __________. I am a constituent, and my zip code is _______. I am a member of Indivisible SF.
You have the power, and the solid economic record, to put an end to this cynical Republican debt-ceiling blackmail. MAGA extremists are still threatening to shatter the economy. It’s time to play hardball. You have options:
Enforce the 14th Amendment, which has higher priority than the bogus debt-ceiling law, rather than defaulting on payments.
Circumvent the debt-ceiling law by minting trillion-dollar coins.
Delay the debt ceiling financial catastrophe by selling higher-yield premium bonds to investors.
America does not negotiate with violent terrorists—and we shouldn't negotiate with economic terrorists either.
Background
Democrats have regularly passed legislation to raise the debt ceiling, no matter which party holds the presidency, in order to maintain the full faith and credit of the US economy, in keeping with the 14th Amendment of our Constitution, which says “The validity of the public debt of the United States, authorized by law…shall not be questioned.” The debt ceiling involves expenditures already made. Republicans know that, but have clamored about the debt ceiling during Democratic presidencies and held the economy hostage, as a means of forcing drastic cuts in domestic spending that they know they could not enact through legislation.
The National Association of Government Employees has filed a lawsuit against Secretary Yellen and President Biden based on a different constitutional principle: the separation of powers because breaching the debt ceiling forces President Biden and the Executive Branch to make spending decisions that overturn funding authorizations that Congress has already enacted.
There is more background on the history of debt ceiling fights in our previous Calls to Action:
May 9: President Biden: End the Republicans’ Cynical GOP Debt Ceiling Game | Indivisible SF
April 25: Tell Biden and our MoC's: No to the GOP Debt Ceiling Scheme | Indivisible SF
President Biden endured a couple of ugly debt ceiling fights when he was Vice President. He knows US media is owned by large corporations that elevate Republican rhetoric, even when it is deeply flawed. Republicans know most Americans don’t realize that the reason we’re so close to the debt ceiling is because of the Trump tax cuts for the wealthy enacted in 2017. Nor do they realize that spending during the Trump administration accounts for 25% of our national debt. We need our No Malarkey President to crush those absurd debt ceiling lies and get on with the economic recovery the Republicans across the aisle are so jealous of (even as they claim credit for projects in their regions).
References
The Potential Economic Impacts of Various Debt Ceiling Scenarios, White House Council of Economic Advisers, 5/3/23
Government employees union sues Yellen, Biden over ‘unconstitutional’ debt limit law | The Hill 5/08/2023
Is debt limit unconstitutional? Answer is yes, some argue, based on the 14th Amendment's public debt clause, ABA Journal, 1/25/2023
Was Nearly 25% of the US National Debt Incurred During the Trump Administration? | Snopes.com, 1/19/2023
The fiscal fights of the Obama administration, Brookings Institution, 12/08/2016 (Republican manufactured fiscal crises of yore)