Democrats control the White House and both houses of Congress. As the majority they can pass an increase in the U.S. federal debt limit as part of their budget bill without a single Republican vote. Yet Democrats are insisting that Republicans provide votes to give them political cover in raising the limit.
That’s the bottom line on the latest political theater unfolding in Washington over raising the statutory debt limit. The Treasury is playing its familiar perils-of-full-faith-and-credit song. Captains of industry are calling default unthinkable, unconscionable, un-whatever-able. So why aren’t Democrats, who have the power, raising the limit and saving the world from supposed catastrophe?