First, the House has presented a bill to the Senate. It is not blackmail as you suggest, it is reducing spending that got us in the inflation trouble we are in, and it is increasing the debt limit. That is a compromise position. That is what democracy is about. The previous Congress authorized that spending and threw us into massive inflation. The current Congress, a correction by the voters, wants to reduce that spending. Effectively that is what the voters voted for is it not? https://www.cnn.com/2023/05/23/politics/cnn-poll-debt-ceiling-increase-spending-cuts/index.html Demonstrably so. Which is why Biden decided to "negotiate" but he is not doing much to move the ball to completion.
What is morally and ethically bankrupt is having put us in this position in the first place. Frankly, the D's and Rs should take full responsibility with that from 2001 and on. The R's are taking a stand against runaway spending right now, the D's are saying that is blackmail. Who is morally and unethical?
A proposal that offers fiscal discipline later for relief now, will never materialize later. It never does. No one that is anyone in constitutional law expertise circles thinks the 14th amendment being bandied about is a solution. https://www.washingtonpost.com/opinions/2023/05/23/debt-limit-solution-14th-amendment/
If you think the Rs are negotiating in bad faith by saying debt ceiling rise comes with spending reductions, let's look at the D's position. No change to spending and a rise in the debt ceiling - period. And they are holding to that apparently trying to put the Rs in the hot seat. The R's have a plan to resolve this, the D's don't.
I understand there are different ways to look at this, but that is how I look at this. Compromise is the art of democracy. So which side is on the side of democracy in this case? We can all decide. Those on the left that say our democracy is in danger need to look inside themselves and ask tough questions, because it is clear in my opinion.
mspart