President Biden’s recent comments about the “wacko notions” included in the House Republicans’ debt-ceiling bill brought to mind another memorable quote: “I cannot agree to vote for a full increase in the debt without any assurance that steps will be taken early next year to reduce the alarming increase in the deficits and the debt.” Those were Sen. Biden’s words in October 1984. But how different is the House GOP’s spending package from the reforms Mr. Biden claimed to support nearly four decades ago?
During the 1984 debt-limit debate, Mr. Biden supported an amendment by Sen. Paul Tsongas (D., Mass.) that provided for a smaller debt-limit increase than the underlying bill and linked any future increase to a vote on an overall federal spending freeze. Today’s House Republicans are likewise proposing to link a debt-ceiling increase with spending restraint, which the White House has described as “economic hostage taking.” Yet 39 years ago apparently it was sensible. Mr. Biden said he supported tying the debt limit to spending reforms because doing so would “immediately focus our attention . . . at the most critical time attention should be focused on taking on the tough measures”—that is, “when you have to raise the debt ceiling again.” He added: “My mother says there is nothing like looking over the precipice to focus one’s attention.”
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