The White House wasted no time on Tuesday making the case that the federal debt limit, which Treasury Secretary Janet Yellen has said will be reached later this week, should be raised without conditions and that to do otherwise is “brinksmanship that threatens the global economy.”
This was one of Biden’s top lines of attack against Republicans ahead of the midterm elections last year — a GOP Congress will cut entitlement programs for retirees and crash the economy — and it worked well enough to keep the Republican House majority small and to make the Republican Senate minority smaller. So Biden’s team is repeating it, with a twist.
But Biden is also following a political playbook that allowed past Democratic presidents to recover from midterm losses and win reelection, through fiscal standoffs that lead to government shutdowns or the downgrading of the national credit rating. It could certainly make headlines about classified documents disappear.
Democrats took the Senate in 1986 after the first Republican majority since the 1950s following legislation to shore up Social Security’s shaky finances. Medicare reforms that House Republicans in 1995 promoted as performing a similar function for that program were described by Democrats as Medicare cuts to pay for tax cuts for the rich, helping President Bill Clinton win reelection two years after facing a midterm disaster.
Democrats frequently observe that Republican enthusiasm for spending cuts and balanced budgets does not necessarily continue during the terms of GOP presidents.
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