LogFAQs > #958511372

A shutdown wouldnt be a huge problem: theyre bad, they hurt the economy, but theyve happened before.

A default; however, would be cataclysmic. The global economy is more or less based upon US Treasury T-Bills as a financial reserve and the American dollar as a global medium of exchange. A default could upend the entire global economy.

The problems the Dems face are as follows:

1) The Senate cannot pass anything without 60 votes unless via reconciliation

2) The Dems can use reconciliation once per fiscal year and have slavishly adhered to the whims of the unelected Senate parliamentarian whom they could replace at any time for any reason

3) They used one reconciliation bill for the economic relief passage earlier this year. The second is earmarked for a massive human infrastructure and environmental bill

4) The passage of a modest hard infrastructure bill that moderates want is being hinged upon the reconciliation bill by progressives who have the votes to torpedo the smaller bill unless their preferred bill is also passed

5) The Republicans are fundamentally bad actors who will demand all sorts of odious stuff in exchange for averting default. It is unlikely they will budge, because they would be happy to blame Biden for anything and everything bad that happens, especially if its their fault.

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She/her