High cost of an ego trip
By Dana Milbank, WashPost, Friday, February 14, 6:28 PM
Very few Americans know how close the country came to catastrophe this week.
The final tally shows that the Senate voted by a wide margin Wednesday, 67 to 31, to break Sen. Ted Cruz’s filibuster of an increase in the debt limit, thus avoiding a default on the United States’ full faith and credit.
But 15 minutes after the voting should have ended, Senate Minority Leader Mitch McConnell had apparently secured only two of the five Republican votes he needed to join all 55 members of the Democratic caucus to pass the measure. He raised three fingers in the air and worked his way among his members but was met with folded arms and shakes of the head. Looking queasy, he patted his thigh nervously and drummed his fingers. In the hubbub, Sen. John Hoeven (R-N.D.) knocked a full glass of water and coaster from McConnell’s desk to the floor.
Democrats, watching the spectacle, took the extraordinary step of ordering the Senate clerk not to read aloud the ongoing vote tally to avoid setting off a market panic; because the House had already left on a two-week recess, a failure of this vote would have left little chance of avoiding default on Feb. 27, when the Treasury was to run out of funds.
(More here.)
Very few Americans know how close the country came to catastrophe this week.
The final tally shows that the Senate voted by a wide margin Wednesday, 67 to 31, to break Sen. Ted Cruz’s filibuster of an increase in the debt limit, thus avoiding a default on the United States’ full faith and credit.
But 15 minutes after the voting should have ended, Senate Minority Leader Mitch McConnell had apparently secured only two of the five Republican votes he needed to join all 55 members of the Democratic caucus to pass the measure. He raised three fingers in the air and worked his way among his members but was met with folded arms and shakes of the head. Looking queasy, he patted his thigh nervously and drummed his fingers. In the hubbub, Sen. John Hoeven (R-N.D.) knocked a full glass of water and coaster from McConnell’s desk to the floor.
Democrats, watching the spectacle, took the extraordinary step of ordering the Senate clerk not to read aloud the ongoing vote tally to avoid setting off a market panic; because the House had already left on a two-week recess, a failure of this vote would have left little chance of avoiding default on Feb. 27, when the Treasury was to run out of funds.
(More here.)
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1 Comments:
My, how things have changed since 2006:
"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better." Senator Obama
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