Let us get this clear.
The Debt Ceiling refers to DEBTS THAT HAVE ALREADY ACCRUED.
WE HAVE SPENT THAT MONEY!

The Republican Party is toying with the full faith and credit of the United States of America.😠

"It would not be pretty…The stock market would likely plummet…Cars and homes would get even more expensive. The U.S. could tip into a recession. People would lose their jobs."

MAGA Republicans are bringing us to the verge of disaster. https://t.co/mBDlCUUNnr

— Senator Chris Van Hollen (@ChrisVanHollen) May 2, 2023

DC and Wall Street conventional wisdom says this debt limit fight is fundamentally like 2011. That's based on missing the key development within the D party over the last generation which makes default or extraordinary Treasury actions far more likely. https://t.co/PwhmD4XEx1

— Josh Marshall (@joshtpm) May 1, 2023

From Josh Marshall at TPM:

… Most observers think that the White House’s stance not to negotiate over the debt is fundamentally a negotiating position, a stance aimed at driving political gains from highlighting both unpopular Republican demands but also general disorganization and antics from their most extreme members. Once that’s done they’ll be forced to come to the table and negotiate a way out of the impasse, the logic goes. In other words, the situation is fundamentally the same as what happened in 2011.

Certainly, Republicans see it that way. They took a clear lesson from 2011. They threatened the unthinkable and forced Barack Obama to accede to their demands, agreeing to major budget cuts that played out over the remainder of his term. They have the confidence of knowing that they are very willing to shoot their hostage if their demands or a major part of them aren’t met. (Indeed, a part of their caucus is eager to shoot their hostage for reasons that mix individual personality disorders and group ideology.) That confidence in their willingness to shoot their hostage is shared, rightly, across the political spectrum and by the less overtly political stakeholders observing the drama unfold. It shapes everyone’s understanding of what’s happening: Republicans are willing to do the unthinkable; and since the unthinkable can’t happen, it’s up to the Democratic President to save the country from it.

The problem with all these assumptions is that it fails to take into account the internal politics of the Democratic Party over the last dozen years. One of the central takeaways from the Obama years not only for lots of Dem political junkies but perhaps more importantly for the Democratic political class is that Barack Obama’s decision to negotiate was a categorical and grave error and that can’t ever be repeated. The people who learned that lesson from the inside now basically run the Biden administration. Many have comparable positions; others at the highest level were a rung or two lower 12 years ago. Joe Biden is known as being one of those people who interpreted the lessons of that drama in the same way even though, or perhaps because, he played a key role in negotiating the outcome. In other words, it’s the same GOP, but it’s not the same Democratic Party. We are likely to hit the crisis with neither side willing to give way…

Joe Biden can’t operate without support from his own party and fundamentally he’s a median Democrat. He’ll always be where the center of gravity of the Democratic Party happens to be. Missing that reality is why so many were surprised at how he’s governed. If Biden’s “no negotiations” position is real, he needs a response to Republican willingness to kill their hostage. It’s not clear what that is. And if he has one he needs to keep it under wraps until the final moment, adding a huge amount of danger and drama to what unfolds…

https://talkingpointsmemo.com/edblog/its-gonna-be-a-rough-ride

I love this take on President Biden. I have thought that he was the man needed for this time. These thoughts confirm that to me.

From the comments at
Balloon Juice

Ruckus

MAY 2, 2023 AT 12:15 PM
Josh Marshall misunderstands Joe Biden. He’s not alone.

He was in the Senate for 37 yrs. A staunch democrat in a system that requires one to be an operative on one side or another and to operate as a part of the whole. Now he is president and in that position he has to be, not just a member but the leader. And he seems to me to be doing a very good job at it, because he’s spent basically his adult life learning, watching how the job is and isn’t done properly. That is a gift, to be able to learn to work the job at hand and to learn to move up the ladder to do the next job reasonably. I used to train apprentices to work in a field that takes time and hands on experience to get all the finer points. What Joe Biden has done is like one of those apprentices who learns every day, from the experiences. And as always, it can be difficult to see exactly how that learning progresses as time goes on. Graduation day is not a set time for anyone in this type of learning atmosphere. It depends on how well they learn, how they build upon each step in the process and one day the good ones arrive at the top of their field. In this case that’s Joe Biden. He does a kick ass job because he’s been through the entire process and learned well along the way. He’s comfortable in a job that likely has a high comfort margin to reach, because not everyone can get there. And he has.

BREAKING: Treasury Sec. Janet Yellen warns that the U.S may reach its debt limit by June 1 — exactly one month from today. pic.twitter.com/szuXEqBsi8

— Meet the Press (@MeetThePress) May 1, 2023

The media is starting to get desperate with the debt ceiling.

The drumbeat for "Biden needs to sit down and negotiate" is getting louder from the Beltway Media.

I hope POTUS and the Dems keep ignoring them.

— Hope Restored In DFW (@Kennymack1971) May 2, 2023

Holy shit. President Biden just posted a graphic with the names of House Republicans who voted against veteran services in the debt ceiling package. The Dark Brandon that we saw last night is here to stay & it’s absolutely amazing. This is the Joe Biden we need.

— Victor Shi (@Victorshi2020) April 30, 2023

We have a sacred obligation to care for the men and women who fought to protect our freedom.

This is how MAGA Republicans in Congress have chosen to repay them. pic.twitter.com/EX7dq3vJST

— President Biden (@POTUS) April 30, 2023