Senate Majority Leader Chuck Schumer appeared on the chamber floor yesterday morning and delivered fairly routine remarks that didn’t generate a lot of attention. The New York Democrat did, however, flag a GOP quote that I hadn’t heard.
“During House Republicans’ annual retreat, House Budget Committee chair and other hard right-wingers said now is ‘the best time’ to double down on debt-ceiling brinkmanship, as news of [Silicon Valley Bank’s] collapse remains front of mind,” Schumer said. “That is reckless and truly clueless. … Instead of calling for calm, House Republicans are sowing chaos by threatening default at a time when banks need stability.”
This morning, the majority leader returned to the floor and reemphasized the same point. “Earlier this week, House GOP members, including the chairman of the House Budget Committee, said now is ‘the best time’ to double down on debt ceiling brinkmanship and hostage taking,” Schumer said, adding, “This is a stupendously bad idea. This is an idea that has no logic, has no linear thinking in it at all.”
I couldn’t help but wonder if perhaps the Democratic leader was taking some creative license. Perhaps the original quote wasn’t as outrageous as a three-word excerpt made it seem. Maybe the context would be more forgiving.
Or maybe not. Punchbowl News reported yesterday:
The recent collapse of two large regional banks rattled global markets, raising concerns about financial stability during a precarious moment for the U.S. economy. Would this backdrop of uncertainty, we wondered, cause House Republicans to grow wary of launching a debt limit showdown? From our conversations with top GOP lawmakers at the House Republican retreat this week in Orlando, the answer is a hard no. Instead of expressing caution, senior GOP lawmakers are leaning into their plans to demand spending cuts in return for raising the nation’s borrowing limit.
It was this same report that quoted Republican Rep. Jodey…
Read the full article here
