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Catherine Rampell Profile picture
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6 Oct, 4 tweets, 2 min read
So, who is actually "playing Russian roulette with [the/our] economy"? ImageImage
My view is: GOP is being actively reckless, deliberately blocking a debt limit increase/suspension; Dems have mostly been naive, and too slow to recognize they needed to act on their own
Best way to prevent *anyone* from playing Russian roulette, in any case, is take away the gun
However this is resolved in near-term -- and I genuinely don't know how, given political and time constraints obstructing every pathway out of this -- I hope the conclusion Congress reaches is: get rid of the debt limit once and for all.
For a summary thread on those political and time constraints, see:

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More from @crampell

Catherine Rampell Profile picture
8 Oct
Would read an in-depth writeup on the well-oiled right-wing hate-click/harassment machine. In my experience/observation it goes something like this...
Some right-wing figure does a Twitter “dunk” on someone else (sometimes not actually a dunk but rather a misunderstanding, unintentional or willful, of the issue by the dunker). Then other followers pile on.
Then Fox News writes an entire news story (?) about just the tweets and replies, characterizing them as someone getting "destroyed" or whatever.
Read 7 tweets
Catherine Rampell Profile picture
6 Oct
Immigrants have been awarded 38%, or 40 of 104, of the Nobel Prizes won by Americans in chemistry, medicine and physics since 2000, per @NFAPResearch. Share going back to 1901 is 35% nfap.com/wp-content/upl… Image
This is true, the best and brightest researchers often want to come here - but we have not always let them in!
.@PMoserEcon and @san_muly have a great paper quantifying the costs to US research & innovation from the 1920s national-origins quota system for instance dropbox.com/s/005ikevo7e34…
Read 5 tweets
Catherine Rampell Profile picture
6 Oct
This is an excellent question, and one I haven't been able to get an answer to when talking with White House/Cap Hill Dems. I think the answer could be something like...
For months Dems underestimated GOP's genuine commitment to blocking debt limit fix thru regular order. Ds believed Rs might not vote for suspension/hike but also wouldn't filibuster - i.e., they'd do as Ds did before in a symbolic vote against limit hike
Now D’s are reacting to that disillusionment by saying ‘golly gee I guess we really can’t trust those R’s to commit to anything cooperative in advance!’ Hence Dems' recent pivot to talking about eliminating the filibuster (which Manchin opposes)
Read 5 tweets
Catherine Rampell Profile picture
6 Oct
A short thread on what this would mean in practice, and why some Dem lawmakers distrust that it will happen. 🧵
If Dems use the reconciliation process to raise the debt limit, that would normally require several complicated time-consuming steps (many hours of debate, "vote-a-ramas") to get it done.
Not a lot of time is left, however.
Probably the whole process would take 2+ weeks; we may not actually have 2 weeks before Treasury runs out of cash. (There is some uncertainty about exact timing of the so-called "X-Date.")
Read 11 tweets
Catherine Rampell Profile picture
5 Oct
Dems are reluctant to lift debt limit on their own, thru reconciliation, b/c they don't want to (1) raise it to a specific number (as opposed to suspending it altogether for a period of time) or (2) do that on their own
They worry the # would appear in misleading GOP attack ads
But even without a specific new debt limit # to play up - R's will STILL call D's big spenders.
So fears about painful optics of a party-line vote for a specific debt limit # always seemed overblown to me, especially relative to the *actual* pain that would be caused by default.
Apparently even Manchin -- who among all D lawmakers is probably most sensitive to accusations of running up deficits -- thinks this political-optics worry is overblown too
Read 5 tweets
Catherine Rampell Profile picture
5 Oct
School boards are asking for federal help as they face threats and violence npr.org/sections/back-…
Unhinged, violent mobs have come for local public officials who work on elections; public health; courts; and now, school boards.
It has long been difficult to recruit good, talented people to become civil servants. I fear current trends may soon make it impossible
Not unrelated: "Once lauded as heroes, health care workers are now spit on and ‘threatened every day at work.’
Some doctors and nurses wear panic buttons because of violent patients" michiganadvance.com/2021/10/05/onc…
Read 4 tweets

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