Debt ceiling showdowns aren’t new – but this time gonzo Republicans are ready to blow up the economy | Robert Reich

John Avlon: In 1985, the Reagan administration took back social security investments in which social security had invested.

Avlon says previous debt-ceiling showdowns have been fueled by soaring national debts due to Republican tax cuts for the wealthy and big corporations.

But unlike Bob Dole in 1985, these players have no real commitment to cutting the government debt, he says.

He says House Republicans should sue Biden for paying the government’ debts as they openly demand that credit comes due.

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California, Berkeley, and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.com.