Biden Debt-Ceiling Gaffe Could Destroy His Presidency

Jonathan Chait: “Last week, a reporter asked President Biden if he would support a repeal of the debt ceiling. ‘A permanent repeal of the debt ceiling? Just say we don’t have a debt limit?’ he asked with a laugh, as if the notion were fantastical. ‘No. That’d be irresponsible.'”

“The reality is in fact just the opposite. Repealing the debt ceiling, or raising it to a level at which it is practically repealed, is the responsible course of action. Leaving the debt ceiling in place invites political chaos and creates the risk of a global economic meltdown with absolutely no benefit whatsoever. Biden’s dismissive comment was the most irresponsible act of his entire presidency.”