By Elizabeth Michaud and PW Editors
The House of Representatives approved an increase in the debt ceiling this week without attaching conditions to the measure. The same measure was also approved by the Senate this week, with enough Republicans breaking ranks to get the measure past the supermajority of 60 votes. Given the contention that has plagued government, and nothing being too small to create a power struggle over, this seems to be a miracle, and possibly represents a turn in the hyperpartisan tide that has made governing the United States nearly impossible for the past five years.
The smooth sailing for this routine measure was seen as a blow to the Tea Party, the faux political party that has done little other than obstruct what little civility remained in Washington, DC. How long it lasts, we shall see.
The debt ceiling is the borrowing limit the U.S. government imposes on itself. Dating back to 1917, the debt ceiling has been raised many times in recent history, as the U.S. sinks further into the hole. The debt ceiling is not about incurring new expenses. Rather, it’s about the government’s ability to borrow money to pay bills that it’s already run up.
Various political factions in Congress have used raising the debt ceiling to leverage concessions by the other party, most recently in 2011 and 2013. This is hypocritical since it was Congress that spent the money in the first place.
The first sign of a progress this week was when House Majority Leader John Boehner went against his own caucus (held like a hostage until now by the Tea Party faction), and abandoned his own rule that any debt limit increase be tied to equal spending cuts.
The debt ceiling crisis of 2011 resulted in the first-ever downgrading of the United States’ credit rating, causing the stock market to nosedive and interest rates on government borrowing to rise. It was the closest breach of “full faith and credit” of the United States, constitutionally mandated, in the country’s history. Generally, U.S. debt is worth its weight in gold and other countries are eager to lend the U.S. government money.
And it’s only been four short months since October, when the infamous 16-day government shutdown, in part connected to the debt ceiling, left 800,000 federal employees on indefinite and unpaid leave, and another 1.3 million without a paycheck.
Countless industries were affected as numerous government functions were shut down. Millions of dollars were lost when the National Park Service had to close all its gates. The Grand Canyon alone brings in $2.7 million a day during the month of October. Tourists nationwide were left forlornly staring through blocked entrances, unable to enjoy the non-refundable vacations they had paid for.
Perhaps more traditional Republicans are figuring out that obstruction tactics don’t work for anyone — including the people they represent. Using the debt ceiling as leverage against the Democrats puts the stability of the global financial market at risk. If the U.S. defaults on its debts, the ripple effects would be felt worldwide. With midterm elections approaching, voters will be paying closer attention.
The decision came as Mercury was backing up over the very first degree of Pisces, about to re-enter the sign of Aquarius. This had the feeling of something slipping and unable to regain a grip.
The Piscean quality of inclusivity may have lent a cooperative hand, as the GOP realized that they cannot maintain an obstinate position if they want to win national elections. The country is in desperate need of leaders who see the big picture and will make decisions regardless of party lines.
This wasn’t just a win for one side of the aisle or the other — it was a much-needed win for the United States. As Treasury Secretary Jacob J. Lew said in a statement on Wednesday, “We welcome the news that Congress has acted to meet its responsibility.” Yes, that is something we can all agree on.