If there is a compromise on the debt ceiling extension, it will be a blow to the social safety net. We can hope there will at least be a tax increase at the upper end so that the wealthy don't get a free ride, but still there is no doubt that in the face of republican intransigence, the president has put the social safety net on the line.
While the democrats in congress will instinctively oppose this plan because of their long standing support and election promises, in the end they will have little choice but to go along. Breaking the full faith and credit of the United States will be a worse blow to everyone and especially those depending upon the social safety net.
I believe the president has, under the constitution, the power to borrow to pay any bills upon the government. The 14th Amendment, says that “the validity of the public debt of the United States … shall not be questioned.” The would need a great deal of political courage to endure the wrath of congress. Given that he willingly put the social safety net on the table quite a while ago his only concern seems to be how much of a tax increase he can get out of the republicans. This laudable goal still ends up a betrayal to all who depend upon the social safety net.
After this betrayal is in place, the battle of 2012 will shape up not as a struggle to preserve what is left, it will be a struggle to stop further republican predations and further fecklessness by the democrats.
Melvyn Polatchek
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