No one likes the debt deal

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Senate leaders were happy with their deal on Thursday to avoid defaulting on debt. They were only about the people.

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why it matters: The Band-Aid does nothing to solve the long-term debt limit problem for Americans. Democrats fear it could only lead to a very busy December down the road. Meanwhile, Republicans are mad, their party blinks.

  • “Why would I make it easier for them to increase the loan limit through a regular order? We had a strategy and we dropped it,” Sen. Lindsey Graham (RSC) Told CNN’s Manu Raju.

Many Senate Republicans Are So Disappointed with the Agreement Between Senate Minority Leader Mitch McConnell (R-Ky.) and Senate Majority Leader Chuck Schumer (D.N.Y.), he not only refused to endorse the vote but threatened to prevent it from happening through a simple majority. .

  • This left McConnell and his team scrambling, hunting for at least 10 members to help push the deal past the 60-vote threshold for major legislation.
  • Those Republicans would be forced to attach their names to an increase in the debt limit, even a temporary one — something McConnell was trying to avoid.
  • In the end, McConnell helped 61 senators call for clout and give the deal a final vote. And then it passed 50-48. The measure goes to the House, where there is a clear democratic majority to pass it.
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Senate Republicans met for 90 minutes Thursday evening. Many expressed their concern McConnell delivered significant gains as Democrats attempt to pass President Biden’s $3.5 trillion social spending package and $1.2 trillion infrastructure bill ahead of the next debt-limit battle.

  • “I believe it was a mistake to offer this deal,” Sen. Ted Cruz (R-Texas) told reporters. “Schumer was on the Nerdshala of surrender. And, unfortunately, the deal that was put on the table was a lifeline for Schumer. And I disagree with that decision.”

Meanwhile, many Democrats They are disappointed that they did not take advantage of party unity to permanently deal with debt limits on their own – especially since the pressure to replace the filibuster was picking up steam.

  • “I think short-term options are not the ideal situation,” Sen. Mark Kelly (D-Ariz.) told Nerdshala.
  • “I think if Senator McConnell tries to play up the same drama where he insists that we do it through conciliation and we insist that we won’t … I think we’ll do it again. against a rule change,” Sen. Chris Koons (D-Del.).
  • White House press secretary Jen Psaki also held off on the idea of ​​a deal prior to the announcement.
  • “If we’re looking for the best options, why put the can on the road for a few more weeks?” Saki told reporters on Wednesday. “Why create an extra layer of uncertainty? Why not do it now? That’s what we’re constantly under pressure from, and it’s our first choice.”
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Delays have also prompted new calls To completely eliminate the loan limit from progressive members.

  • Elizabeth Warren (D-Mass.) said, “The debt ceiling is doing nothing but giving Mitch McConnell a chance to play politics. We need to get rid of it completely.”

what to watch: Despite Democrats’ concerns, the decision gives them time to finalize both elements of the president’s Build Back Better agenda.

  • “If we spent the next two weeks moving past this debt ceiling crisis, we would have no room to work on the president’s domestic priorities,” Sen. Chris Murphy (D-Conn.) told Nerdshala.
  • “The practical consequence of having only a month and a half extra time on debt is that it puts pressure on people to come to the table.”

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