The assumption is that if only Biden will give the Freedom Caucus everything they want — in other words, destroy all of his accomplishments and more — then they will allow the government to pay its debt. No. They. Will. Not. Once they realize Biden will give them anything there will be no end to it, even if the country defaults. Krugman asks the right questions here:
So much writing on the debt ceiling right now seems utterly behind the curve. The question now is what does Biden do if Rs refuse any deal that doesn’t effectively give them complete control of US policy? Or maybe even actively seek financial crisis?
Unilateral actions might fail — or be blocked by a partisan Supreme Court. But what are people pointing out these risks saying that Biden should do? Capitulate completely? (Even that might not be enough). If that’s the plan, say it clearly.
That is the plan but it won’t be enough.
The only legislative way out of this is for the Senate to pass a bill and send it back to the House. If Kevin won’t bring it to the floor, then they have have to go the 14th Amendment route and hope the Supreme Court isn’t so batshit insane that the will crash the world economy (and it might crash anyway just because of the chaos.)
Otherwise, MyKevin will have to give up his job and bring a Senate bill to the floor against the wishes of the insane clown posse. The vote will then be won with Democratic votes and some Republican votes (depending on what’s in it the majority could go either way.) And then Marjorie Taylor Green, under orders from Dear Leader, will present a motion to vacate the chair and MyKevin will lose the Speaker’s chair. (Some centrist Dems have said they would vote for him if it came to that but it’s hard to see how Kevin could continue with a full revolt of the Freedom Caucus on his hands.)
These are the two possibilities. The winguts are so crazy they staged a full blown spectacle for the Speaker’s race. And they loved it. Does anyone think those loons are going to give in on this debt ceiling short of forcing Biden to roll back the entire 20th and 21st century? And even then, they’d just start agitating for the return of the Confederacy.