Walk Softly and Carry a Big Stick and You Will Go Far (West African Proverb)
Biden channeled his inner "TR," Teddy Roosevelt
Shalanda Young, Director of the Office of Management and Budget
Issue #335: OpEd June 5, 2023
The 26th United States President Theodore Roosevelt, whose Republican party was considered "progressive" at the turn of the 20th century, described his style of foreign policy as "the exercise of intelligent forethought and of decisive action sufficiently far in advance of any likely crisis".
Other qualities of how he approached political or international crises included: never bluffing, striking only when prepared to strike hard, and being willing to allow the adversary to save face in defeat.
This is exactly how Joe Biden handled this debt ceiling crisis.
People often compare Joe Biden to Franklin Roosevelt, but in this case, Joe perfectly channeled FDR’s 5th cousin, “TR,” or Theodore Roosevelt.
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President Joe Biden met with House Speaker Kevin McCarthy in person and by phone discussing the possible 1st-ever US default several times over the past few weeks. Biden kept insisting on nothing less than a clean debt ceiling raise.
However, the House Republicans continued to conflate the debt ceiling with the budget, and they never produced an actual budget proposal, even though Biden's budget proposal was submitted on March 9.
McCarthy kept saying that Biden wouldn't meet with him for "weeks," but that was because there was nothing to meet about.
In late April, the MAGA Republicans submitted a "bill" that was actually a list of draconian cuts to Biden's programs and to the federal benefits that people needed. This was not an official budget proposal. They refused to even think about closing tax loopholes that would bring in more revenue, instead insisting that the only way to balance the budget was to cut programs for middle and low-income people while keeping tax breaks for the wealthy.
Finally, two weeks before the June 5 deadline set by Treasury Secretary Janet Yellen, both sides sent in who they thought were their best negotiators. Although McCarthy kept saying that the U.S. would not default, he at first refused to move away from the worst cuts his party proposed.
Biden's negotiating team was led by Shalanda Young, the Director of the United States Office of Management and Budget. She was President Biden's "Big Stick."
Finally, late Saturday night, May 27, an agreement "in principle" was reached, and now McCarthy had to sell it to his people to get the 218 votes necessary to pass the House. He was only able to get 150 members of his caucus to vote in the affirmative, and only after all the Republicans voted did House Minority Leader Hakeem Jeffries make up the rest with the members of the Democratic Caucus.
Next, the bill went to the Senate, where Minority Leader Mitch McConnell advised his members to vote yes. The bill passed the Senate with a vote of 63-36 late Thursday night.
No, there were not "both sides." One side was trying to save the American economy and the other side prided itself on holding the American people hostage to get their way.
Many of the MAGA Republicans were willing to throw the American and global economies over the cliff to get their way.
Biden kept his word and did not "negotiate the debt ceiling." He said that the US would not default.
Biden did, however, negotiate over some budget items, without the Republicans even realizing what was happening.
Budget talks usually take place in the summer/fall, but the Biden team had to take a hit on a few budget items but keep in place about 98% of his programs and initiatives, as well as government benefit programs.
Most importantly, the debt ceiling raise will stay in place until 2025, after the 2024 election season.
Social security, Medicare and Medicaid, and veterans' benefits stayed in place, and veterans will receive more benefits.
The "work requirements" that the Republicans demanded only affect adults without dependents, and raise the age from upper age from 49 - 54 over the next seven years.
The Repubs were able to erase some IRS funding for more agents to catch wealthy tax cheats, but we'll take care of that in a different way and later.
President Biden, the Dems, and the American people won BIG!
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