"House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"

[Ted King]

Let's be real. The Republicans can make their demands going through the normal budget process. But they want to make these demands through the debt-limit process because it gives them more leverage than the normal budget process. More leverage as in, "we have this gun to the head of our economy and we'll pull the trigger if you don't give us what we want."

Ronald Reagan:

"Unfortunately, Congress consistently brings the government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility -- two things that set us apart from much of the world."

Trump extended the debt limit three times without making any cuts.