Biden at G7, leaves Kamala Harris in charge of debt ceiling negotiations

 May 20, 2023

President Joe Biden had to make an appearance at the G-7 summit in Japan this week, so he left Vice President Kamala Harris in charge of crucial debt ceiling negotiations at home until he can get back later in the weekend.

Republican National Committee (RNC) Chair Ronna McDaniel used the situation to attack Biden for lack of leadership in doing so.

“While Joe Biden has left the country, border czar Kamala Harris is now involved in debt ceiling negotiations despite presiding over the worst border crisis in history,” McDaniel said in a written statement. “The Biden-Harris administration’s lack of leadership creates crisis after crisis, leaving American families to suffer the consequences, but they don’t care.”

While it's true that Harris has pretty much-ruined everything she has touched since becoming Vice President, is she really any worse than Biden? He also has had a terrible track record with the economy, immigration, and the U.S. reputation abroad.

A warning

Treasury Secretary Janet Yellen warned that the government could run out of money by June 1, which has made the negotiations more urgent.

But other experts like analysts at Bank of America have said that the U.S. probably has until July 28 or so until it will actually run out of money, which would give the White House and Congress more time to hammer out an agreement.

Now that Biden has dropped his staunch opposition to any kind of negotiations, House Speaker Kevin McCarthy (R-CA) said that it's entirely possible a deal could be struck by the end of the week.

Both sides have said that there would be dire consequences to not reaching a deal, mostly in an attempt to get the other side to cave to what they want.

But Biden seems to have caved the most, since anyone who understands basic math knows it's not a great idea to keep overspending when you already owe $31.4 trillion to creditors.

Biden had to budge

Previously, Biden was insisting on a clean debt limit increase not tied to any spending cuts, but a big part of his rationale is that Republicans didn't have a plan.

Once the House passed the Limit, Save, Grow Act of 2023 with specific spending cuts and rollbacks along with a debt limit increase through next year, it was up to Biden to decide whether he wanted to work with them or continue to insist on what they weren't going to give him.

The final form of any spending cuts is still up in the air, and honestly, I'm not all that hopeful much will be cut in the end.

But McCarthy has managed to send a message that Biden's obscene spending days are over, and that more fiscal responsibility is needed.

Will Harris mess things up?

Going forward, it is unlikely that any more large spending bills will get through the divided Congress, and it seems likely that some cuts could happen.

Unless Harris messes everything up by the time Biden gets back, which is entirely possible.

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