Last Call For Shutdown Countdown, Armageddon Edition, Con't

Treasury Secretary and former Fed Chair Janet Yellen says that the government will run out of debt ceiling tricks and could be forced to default on loans as soon as June 1, and as far as the Biden administration is concerned, the time to put this mess to bed is now here.

 

A standoff between House Republicans and President Biden over raising the nation’s borrowing limit has administration officials debating what to do if the government runs out of cash to pay its bills, including one option that previous administrations had deemed unthinkable.

That option is effectively a constitutional challenge to the debt limit. Under the theory, the government would be required by the 14th Amendment to continue issuing new debt to pay bondholders, Social Security recipients, government employees and others, even if Congress fails to lift the limit before the so-called X-date.

That theory rests on the 14th Amendment clause stating that “the validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.”

Some legal scholars contend that language overrides the statutory borrowing limit, which currently caps federal debt at $31.4 trillion and requires congressional approval to raise or lift.

Top economic and legal officials at the White House, the Treasury Department and the Justice Department have made that theory a subject of intense and unresolved debate in recent months, according to several people familiar with the discussions.

It is unclear whether President Biden would support such a move, which would have serious ramifications for the economy and almost undoubtedly elicit legal challenges from Republicans. Continuing to issue debt in that situation would avoid an immediate disruption in consumer demand by maintaining government payments, but borrowing costs are likely to soar, at least temporarily.

Still, the debate is taking on new urgency as the United States inches closer to default. Treasury Secretary Janet L. Yellen warned on Monday that the government could run out of cash as soon as June 1 if the borrowing cap is not lifted.

Mr. Biden is set to meet with Speaker Kevin McCarthy of California at the White House on May 9 to discuss fiscal policy, along with other top congressional leaders from both parties. The president’s invitation was spurred by the accelerated warning of the arrival of the X-date.

But it remains unclear what type of compromise may be reached in time to avoid a default. House Republicans have refused to raise or suspend the debt ceiling unless Mr. Biden accepts spending cuts, fossil fuel supports and a repeal of Democratic climate policies, contained in a bill that narrowly cleared the chamber last week.

Mr. Biden has said Congress must raise the limit without conditions, though he has also said he is open to separate discussions about the nation’s fiscal path.

A White House spokesman declined to comment on Tuesday.

 

America has 30 days or the economy implodes thanks to GOP terrorists.

 

Luckily, House Democrats are also trying to stop the clock.

 

The only clue to the gambit was in the title of the otherwise obscure hodgepodge of a bill: “The Breaking the Gridlock Act.”

But the 45-page legislation, introduced without fanfare in January by a little-known Democrat, Representative Mark DeSaulnier of California, is part of a confidential, previously unreported, strategy Democrats have been plotting for months to quietly smooth the way for action by Congress to avert a devastating federal default if debt ceiling talks remain deadlocked.

With the possibility of a default now projected as soon as June 1, Democrats on Tuesday began taking steps to deploy the secret weapon they have been holding in reserve. They started the process of trying to force a debt-limit increase bill to the floor through a so-called discharge petition that could bypass Republican leaders who have refused to raise the ceiling unless President Biden agrees to spending cuts and policy changes.

“House Democrats are working to make sure we have all options at our disposal to avoid a default,” Representative Hakeem Jeffries, Democrat of New York and the minority leader, wrote in a letter he sent to colleagues on Tuesday. “The filing of a debt ceiling measure to be brought up on the discharge calendar preserves an important option. It is now time for MAGA Republicans to act in a bipartisan manner to pay America’s bills without extreme conditions.”

An emergency rule Democrats introduced on Tuesday, during a pro forma session held while the House is in recess, would start the clock on a process that would allow them to begin collecting signatures as soon as May 16 on such a petition, which can force action on a bill if a majority of members sign on. The open-ended rule would provide a vehicle to bring Mr. DeSaulnier’s bill to the floor and amend it with a Democratic proposal — which has yet to be written — to resolve the debt limit crisis.

The strategy is no silver bullet, and Democrats concede it is a long shot. Gathering enough signatures to force a bill to the floor would take at least five Republicans willing to cross party lines if all Democrats signed on, a threshold that Democrats concede will be difficult to reach. They have yet to settle on the debt ceiling proposal itself, and for the strategy to succeed, Democrats would likely need to negotiate with a handful of mainstream Republicans to settle on a measure they could accept.

Still, Democrats argue that the prospect of a successful effort could force House Republicans into a more acceptable deal. And Treasury Secretary Janet L. Yellen’s announcement on Monday that a potential default was only weeks away spurred Democratic leaders to act.

 

It's time to send in the bomb squad and disarm the debt doomsday device for good.

Trump Cards, Con't

Donald Trump continues to attack the journalists clamoring to cover his every move, and they've apparently learned nothing from the last eight years.

 

It was March and former president Donald Trump was aboard his plane with a gaggle of reporters following a campaign rally in Waco, Texas. He started off in good spirits. But then a line of questioning from NBC News reporter Vaughn Hillyard, who suggested that Trump had in recent days seemed “frustrated” by Manhattan DA Alvin Bragg’s investigation, began irritating the former president. “Don’t ask me any more questions,” Trump said. About 10 minutes later, as Hillyard continued to ask about the investigation, Trump snapped, grabbing the reporter’s two phones and chucking them to the side, according to a source familiar with the matter. “Get him out of here,” Trump told his aides, according to a recording obtained by Vanity Fair.

The incident occurred a few days before Trump would be indicted by a Manhattan grand jury for his role in hush-money payments made to Stormy Daniels. Some of Trump’s comments on the plane have been previously reported, such as when he responded to reporters’ questions about Bragg’s probe by attacking it as a “fake case” that “they’ve already dropped.” The Guardian noted how Trump lashed out at Hillyard when the NBC News reporter asked whether he was frustrated by the investigation. Trump denied the notion, insisting, “We did nothing wrong,” and saying, “This is fake news, and NBC is one of the worst. Don’t ask me any more questions.” Hillyard himself said Trump avoided specifics and called the press “fake news.” But the full scope of Trump’s tirade, including his throwing the reporter’s phones, has not been previously reported. Hillyard declined to comment.

Axios reported that Trump’s 2024 team is running a more professional operation than that of his previous runs, with seasoned political operatives intending on running a “disciplined campaign.” Yet the incident demonstrates Trump's hostile relationship with the press remains unchanged. Trump was notorious for lashing out at reporters while in the White House. On the campaign trail, he regularly turned the ire of the crowd toward the press, famously coining “fake news” as a rallying cry.

Hillyard’s questions revolved around Trump’s posts on Truth Social at the time; the former president had warned that there could be “potential death and destruction” if he was indicted. When Hillyard again tried to clarify Trump’s “version of events” around the DA’s investigation, the ex-president said, “I don’t want to talk to you.” Hillyard tried to ask another question. “Do you hear me? You’re not a nice guy,” Trump said, turning to take a question from another reporter. When Hillyard tried a third time to get a response, Trump lost it. “Alright, let’s go, get him out of here,” Trump said. “Outta here. Outta here,” Trump said, as Hillyard kept trying: “The special counsel, sir.” A deeper voice, apparently belonging to a Trump campaign aide, can be heard saying, “Vaughn, we’re done.”

Trump then picked up one of the phones recording the gaggle and asked, “Whose is this?” Hillyard replied that it was his. Trump picked up another phone and asked the same question. “That one’s mine too,” Hillyard said. The former president tossed both phones out of his sight, onto the seat next to him; the thud of one of the phones hitting a surface can be heard in the recording. Someone then asked to talk about congressional support, but an aide said that the gaggle was over. Other members of the gaggle included Axios’s Sophia Cai, the Daily Mail’s Rob Crilly, RSBN’s Brian Glenn, and Associated Press photographer Evan Vucci. (At one point in the recording, Trump praised Vucci as “handsome,” telling the plane, “look at the arms on him.”) The Guardian’s Hugo Lowell had been expected to travel with the president for the Waco trip, but was bumped off the trip a day before due to a story he’d written about Truth Social being under a money-laundering investigation.

The Trump campaign appears to have reduced mainstream press access as a result of what happened on the plane back from Waco. The only reporters on Trump’s plane for last week’s trip to New Hampshire were from friendly conservative outlets: Henry Rodgers of The Daily Caller and Daniel Baldwin of OANN. Baldwin, in his write-up of the trip, wrote of the “warm” and “welcoming” former president, “It’s clear Trump values the opinions of everyone he surrounds himself with, whether he agrees or disagrees. He even turned to me and said, ‘You really know your sports.’” In a surprising turn, Trump is slated to participate in a town hall on CNN next week.

 

Nope, they haven't learned a single damn thing, and when Trump starts putting reporters in prison, they'll still be trying to get "access" to him to prove they are "one of the good ones".

Trump assaults a reporter and throws their phones around his plane like he's a kid mad at his video game and he's tossing a controller, and Trump is now getting rewarded with his own CNN town hall event later this month where he can be a racist and as awful as possible.

Who needs Tucker Carlson or FOX? Chris Licht at CNN seems more than happy to have his cable news channel fill the role. Look for more of this as the Village scrambles to fill Carlson's power vacuum...

Wild Cardin In Play

After nearly 60 years in Maryland politics and 17 years in the Senate, Maryland Democrat Sen. Ben Cardin is bowing out.

 

U.S. Sen. Ben Cardin says he won’t seek reelection next year, ending a nearly 60-year run in Maryland politics and creating a scramble to fill a rare vacancy in the closely-divided Senate.

“It’s time,” the 79-year-old Democrat told The Baltimore Sun in an interview at his Pikesville home in advance of his anticipated announcement Monday. “I always knew this election cycle would be the one I would be thinking about not running again, so it’s not something that hit me by surprise. I enjoy life. There are other things I can do.”

In his career, Cardin, whose third six-year Senate term ends in January 2025, has emphasized international human rights and assisting Baltimore and the Chesapeake Bay.

He began his political career as a member of the House of Delegates in 1967 while still a law student. Democratic U.S. Rep. Steny Hoyer, 83, who represents Southern Maryland, started in the state Senate the same year, making them the state’s longest-serving elected officials.

U.S. Senate vacancies are rare, and the possibility of Cardin’s retirement has already drawn interest from a number of potential successors. Possible contenders include Prince George’s County Executive Angela Alsobrooks; U.S. Rep. David Trone, who represents Frederick County and Western Maryland; Baltimore County Executive Johnny Olszewski Jr.; and U.S. Rep. Jamie Raskin of Montgomery County.

Each of those four Democrats declined to comment last week in deference to Cardin, as he had not announced his 2024 plans. But none would rule out running when they or their aides were questioned by The Sun.

Democrats, who hold a 51-49 majority in the Senate, will try to hang on to control of the chamber in the 2024 elections.

Maryland, which has twice as many Democratic voters as Republicans, has not elected a Republican U.S. senator since Charles Mathias of Frederick in 1980.

 

Cardin has been serving as a Maryland elected official for almost a decade longer than I've been alive, and he's finally retiring.  There's no chance the Dems lose this seat, but Jaime Raskin would be the most notable name in the group attempting to succeed Cardin.

We'll see who runs. Whoever wins would probably have the seat for decades, so.