REPUBLICANS IN the House have figured out a way to kick the can down the road on the debt ceiling without touching the can.
These people are hopeless.
From the Washington Post yesterday, the full explanation on how the bill works, but make sure your feet are on the ground or you might spin into the wall.
The way the bill is written, Republicans won’t technically be voting to raise the borrowing limit by a set amount, as Congress typically has done. Rather, “the bill would suspend the section of the law that mandates a limit on government borrowing” before May 19, explains George Washington University professor Sarah Binder, a congressional procedure expert. Then, on May 19, “the debt limit would automatically be increased to account for the borrowing that occurred during that period.”
The rationale for suspending rather than raising it is political. “House Republicans seem to think that a vote to suspend the debt limit is less toxic to conservatives than a vote to raise the limit,” Binder notes. But it’s a highly unconventional move that raises a slew of questions.
President Obama and the Senate are on board.
Set your calendar to May 18.