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Joe Biden’s annual state of the union address produced the opening scene of what could be a months-long drama over the US debt limit.
It was a rowdy and revelatory moment.
The health of the world economy and the very reliability of the United States as an issuer of debt securities are at the disorganized body of politicians gathered on Tuesday to hear the US president.
Among all the issues before this Congress, where the president faces a new and hostile Republican majority, the dispute over the US debt level may have the greatest global consequences.
The parties must reach a bipartisan agreement to raise the country’s de facto credit card limits this year, to prevent an unthinkable US debt default scenario.
At issue is the Republican demand for spending cuts. Republicans have said they want some fiscal control before agreeing to raise the debt limit beyond the current level of $31.4 trillion.
Biden warned of dire consequences. He accused Republicans of planning to cut seniors’ pensions and health care and the allegations immediately caused an explosion in the chamber.
Republicans howl in opposition
That’s because Republicans insist they won’t touch the most expensive programs. Politically unpopular like Medicare, Social Security, and military funding, that is represent half federal budget.
The president based his statement on the Republican Senate platform technically running on, which proposed that all federal programs expire unless renewed by Congress.
What Biden didn’t mention was that this platform was later firmly rejected by the Republican Senate leader, Mitch McConnell, and Republicans insisted the program be released.
So Republicans howled in protest at what they saw as defamation attacks from the president.
Firebrand Republican US Representative Marjorie Taylor Greene yelled, “Liar!”
Biden joked about being happy to hear Republicans loudly insist that they will protect social programs: “I love the conversion!”
Meanwhile, behind him, behind the podium, the new Republican leader in the House, Kevin McCarthy, tried to control his tumultuous troops.
The math is hard on the US deficit
McCarthy gave a discreet nudge, or hand gesture, in various attempts to get the caucus to display the parliamentary decorum it had promised.
It may be a picture of what lies ahead.
Can McCarthy keep the troops together? Enough Republican backbenchers will, at some point this year, have to rally around McCarthy and back a deal to end the debt staredown.
US President Joe Biden used the state of the union to ask the US Congress to raise the debt ceiling, calling out Republicans for wanting to ‘hold the economy hostage,’ who mocked and mocked.
It is not yet clear how easily he will mollify conservative budget hawks, who hold enough votes to end McCarthy’s leadership.
This is because the US looks like it will continue to accumulate new debt for the foreseeable future.
Neither party wants to touch Social Security (old-age pensions), Medicare (a public health plan for seniors), military funding, or veterans’ care; Additionally, Republicans oppose tax increases.
What would it take to balance the budget in that situation?
According to the Washington-based Committee for a Responsible Federal Budget, it is virtually impossible; it would require the near-elimination of another US federal government.
The non-partisan think tank concluded that, to balance the budget over 10 years, under these conditions, you would have to cut 85 percent of all other spending.
Biden made an immigration deal
Heckling Biden’s debt ceiling message is the first of several times when the new Republican majority has disparaged the president.
Another example came when he proposed an immigration deal: increasing border security in exchange for legal status for some undocumented people, mostly juveniles.
He laughed when Biden mentioned the fentanyl epidemic, yelling that neglect of border security is allowing drugs to flood into the country.
But the president drew few ovations for his populist economic message.
In a fiery speech, he vowed to continue pushing the Buy American policy.
He blasted the company and proposed legislation aimed at stock buybacks; hidden fees in plane tickets, resorts, and concerts; technology company data collection; pharmaceutical prices; and non-compete clauses in employment contracts.
Biden’s populist re-election message
“For too long, workers have been stiffed,” Biden said.
“But not anymore… Too many people are left out or treated like they’re invisible. Maybe it’s you, watching at home.”
It’s unclear how this, if anything, will pass this divided Congress, which will have trouble agreeing enough to pay off the US debt.
What becomes clear is the message Biden plans to send to voters if, as expected, he seeks another term.
He repeatedly cited the accomplishments of the last Democrat-controlled Congress and mentioned the remaining items on his to-do list.
Dozens of times in his speech, Biden repeated the phrase: “Finish the job.”
Can he win again?
Historical precedent suggests something of a coin flip, at this point. The approval rating, entering its third year, is not good, but not fatal.
That equal for the level of approval of his predecessors Bill Clinton, Ronald Reagan, Jimmy Carter and Donald Trump at this stage of the presidency.
Two were re-elected, two were not.
Biden stumbled early in his speech with a variety of linguistic idiosyncrasies that had some party allies unaware of him running for a second term, which will end at age 86.
He mistakenly referred to Chuck Schumer, a Democrat, as the Senate minority leader. Schumer is the majority leader.
In response to Republicans in the state of the union, Arkansas Governor Sarah Huckabee Sanders called several times for a generational change, which was seen in Biden and his former boss, Donald Trump, when he was the spokesperson of the White House.
But that’s next year’s contest.
In this year’s big standoff, on Capitol Hill, we will see how close the United States came to the debt crisis.
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