Dimon says Democrats should act on debt ceiling before House GOP takeover

[In It to Win It]

The Hill

JPMorgan Chase CEO Jamie Dimon on Sunday said Democrats should act on the debt ceiling before Republicans take over the House in the next Congress.

Asked by “Face the Nation” host Margaret Brennan whether the government should take action during the current lame-duck session in the last few weeks of their control of the lower chamber, Dimon said on CBS that he’d encourage it.

“They should because the catastrophic effects of an actual default, not the debates. I understand both sides why we want it, how they want to use it is, that’s catastrophic, or potentially catastrophic. I would never take that risk. So for me, yes, I’d get it done now. Take it off the table,” Dimon said.

Democrats have been pushing to raise the debt ceiling, or the top amount the federal government can borrow, in order to avert a debt default, which many have warned could wreak havoc on the country’s economy, already strained under inflation and recession woes.

[tritsofme]

1. It seems crazy to me that this is not a top priority for the lame duck.

These idiots could cause a real crisis next year.

[ananda]

2. I know. Just do it Dems!

!!!

[Irishxs]

5. Tritsofme is right.

Not passing this when it can be done without opposition is playing with fire.

[dsc]

8. Blame Manchin and Sinema

who are against a party line lifting of the debt ceiling.

[Cha]

3. Yes, Please DO It! Magats want

to Destroy our Country!

[Model35mech]

4. why should I trust Jamie Dimon as person interested in anything but his $$$$?

I really don't know. Really.

Everyone talks about evil corporations and big money

Why is he different? I'm open to education.

[In It to Win It]

6. Sure, Dimon is thinking about money. I won't argue with you there

But no matter his motives, the debt ceiling is something that affects all of us, up and down the income and asset scale. His position is pragmatic, even though it may be selfish at the same time.

It leaves one issue off the table for Republicans to use over Joe Biden and Senate Dems. They could use it as leverage to try and defund some of Biden’s priorities. The debt ceiling and the country’s economy shouldn’t be used as political leverage but they’ll do it. Republicans may not let it get too far because Republicans have financial and economic interests as well on the line.

[gratuitous]

7. Repeal those tax cuts that stuffed even more money into Jamie's pocketses

Wouldn't have to raise the debt ceiling if the biggest beneficiaries of our system paid a fairer share to support it.