Across the nation there is a deep yearning, based on profound concern and frustration, for a bipartisan leadership in Washington capable of solving the nation’s problems.
If the U.S. government defaults over the debt ceiling extension, or if our leaders don’t make major progress at their meeting in the White House on Friday, bond rating agencies could well downgrade U.S. debt by next week, which could trigger an extreme financial crisis.
National bipartisan leadership no longer exists on the major issues. The debt-ceiling showdown, among other issues, has caused the low approval ratings of our leaders to plummet even further.
According to RealClearPolitics’s average of polls, among America’s top political leaders, just two – President Biden and Gov. Ron DeSantis (R-Fla.) – have approval ratings above 40 percent, and then just barely.
Most voters believe are political leaders to too partisan, ideological and self-centered — unconcerned with average Americans.
This is evident with the ending of Title 42, a Trump-era public health policy that allows authorities to expel migrants who have recently been in a country where COVID-19 was present. The Biden administration has been behind the curve in preparing for the deluge of undocumented immigrants that will result.
Immigration reform should be a major issue for bipartisan cooperation, and long has been, going back to President Reagan. Biden and Democrats have long been ready. But most House and Senate Republicans have viewed immigration as a partisan wedge issue and have opposed efforts that would have significantly improved border security and improved treatment of migrants. Sen. Kyrsten Sinema (I-Ariz.) deserves credit for making a sincere and diligent effort to advance bipartisan immigration reform.
The most important issue that requires urgent bipartisan cooperation is to increase the debt ceiling. Both sides have failed to offer the urgently needed bipartisan support.
The U.S. and world economies would suffer greatly if the U.S. government defaults on its debt. It would be an epic, extreme and unprecedented disaster to our workers, business, seniors, vets, farmers and other Americans of all backgrounds. It could cause a deep recession and stock market crash, according to respected financial analysts.
The proposal passed by the House of Representatives was passed only because House Speaker Kevin McCarthy (R-Calif.) and House Republicans knew it would never become law.
Biden is right: It includes provisions so horribly unpopular that it would make an epic disaster even more epic and lead to the defeat of many Republicans.
However, if default occurs on Biden’s watch, it would not only do grave damage to Republicans, it would also damage the Biden presidency, his chances for reelection and those of many Democrats.
There are no winners after a nuclear war. There are no winners after a default of American debt and the destruction of the United States’s credit rating.
I disagree with the Republican debt ceiling bill, but also disagreed when Biden refused to meet with McCarthy from February to May and then hosted a meeting that lasted barely one hour that accomplished little.
Americans yearn for bipartisanship. Biden did this in the first two years of his presidency with historically great results. He should do this again, and invite moderate Republicans to Camp David. They would be among the biggest losers if America defaults. All Americans would be the biggest winners if they pull off a deal.
Budowsky was an aide to former Sen. Lloyd Bentsen (D-Texas) and former Rep. Bill Alexander (D-Ark.), who was chief deputy majority whip of the House of Representatives.