The Looming Catastrophe
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N.E. Brigand
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Re: The Looming Catastrophe
Per a report last night from CNN (coincidentally one of the last pieces that network produced before its controversial CEO Chris Licht was fired), Jamie Dimon, the chair of JP Morgan Chase, told moderate Congressional Democrats at a private lunch yesterday that they should introduce legislation to abolish the debt ceiling entirely.
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Voronwë the Faithful
- At the intersection of here and now
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Re: The Looming Catastrophe
Even if they introduced such legislation, it would have not chance of passing in the foreseeable future. They could do so to stake out a position, but I think it would be politically risky to do so.
To me the more interesting question is whether the lawsuit filed by the National Association of Government Employees alleging that the dept ceiling was unconstitutional was mooted out by the deal. Probably it was, though I have not been able to easily find confirmation of that. The best case scenario that I can see is that that case is allowed to move forward and a determination as to whether the 14th Amendment renders the debt ceiling unconstitutional before there is another crisis.
To me the more interesting question is whether the lawsuit filed by the National Association of Government Employees alleging that the dept ceiling was unconstitutional was mooted out by the deal. Probably it was, though I have not been able to easily find confirmation of that. The best case scenario that I can see is that that case is allowed to move forward and a determination as to whether the 14th Amendment renders the debt ceiling unconstitutional before there is another crisis.
"Spirits in the shape of hawks and eagles flew ever to and from his halls; and their eyes could see to the depths of the seas, and pierce the hidden caverns beneath the world."