GOP House Speaker Drama Sparks Fears About Debt Ceiling Fight

“If House Republicans can’t even get it together to choose their leader, they can’t be trusted with the debt ceiling, fighting inflation, or helping families make ends meet,” said Democratic Rep. Sara Jacobs.

The refusal by U.S. House Republicans to collectively get behind a speaker candidate in six rounds of voting so far this week has renewed concerns about the coming fight over raising the debt ceiling to prevent an unprecedented government default.

After the GOP won a narrow House majority in the November midterm elections, economists and progressives in Congress called for raising the federal borrowing limit during the lame-duck session. However, Democrats failed to pass standalone legislation or include a provision in the omnibus package President Joe Biden signed last week, setting up the battle for this year.

The arbitrary cap was last increased by $2.5 trillion to $31.381 trillion in December 2021 and is expected to be reached no sooner than the summer. Although that means lawmakers likely have months to act, some Republicans have signaled that they intend to use the threat of a potential default—which could cause a global economic crisis—to force concessions.

Specifically, GOP lawmakers have set their sights on cuts to Medicare and Social Security. While Biden vowed in November that “under no circumstances” would he go along with GOP attacks on such programs, the political theater in the House on Tuesday and Wednesday has fueled fears that some Republicans would be willing to force the first-ever default.

I wonder how a certain handful of senators are feeling about not addressing the debt ceiling in the 117th

— Daniel Schuman | @danielschuman@mastodon.social (@danielschuman) January 4, 2023

The House adjourned Wednesday afternoon until 8:00 pm ET, after a trio of votes in which far-right House Republicans repeatedly denied Congressman Kevin McCarthy (R-Calif.) the speakership—events that followed three similar voting rounds on Tuesday. Members briefly returned to the chamber as planned Wednesday night and narrowly voted to adjourn until noon on Thursday. The chamber can't move forward with any legislative business until the leadership position is filled.

"The 20 opposed to McCarthy want all-out war against Democrats and Biden," Institute for Policy Studies fellow Sanho Tree said of the Republicans blocking his path to speaker. "They think that by taking the debt ceiling hostage this year, the House can force the Senate and [White House] to agree to slashing spending, a border wall, and cuts to Medicare and Social Security."

After watching this, just wait until:

1) The Rules package, which will have to pass before the House gets down to biz.

2) Debt limit.

3) Spending bills.

4) Anything else.

— Jake Sherman (@JakeSherman) January 4, 2023

Rep. Andy Barr (R-Ky.) suggested to Punchbowl News' Brendan Pedersen that the speaker fight doesn't "necessarily portend a problem with the debt limit," adding that "I think there will be a way forward," but some Democrats aren't convinced.

"If House Republicans can't even get it together to choose their leader, they can't be trusted with the debt ceiling, fighting inflation, or helping families make ends meet," Rep. Sara Jacobs (D-Calif.) tweeted Wednesday evening. "They've proven they can't lead."

One of the House Freedom Caucus members who has repeatedly voted against McCarthy for speaker, Rep. Ralph Norman (R-S.C.), discussed the debt limit with journalists on Wednesday, reportedly saying: "Is he willing to shut the government down rather than raise the debt ceiling? That's a non-negotiable item."