The U.S. government is on the brink of shutting down as Republicans refuse to raise the debt ceiling. One potential consequence is the government defaulting on its debts and bringing on an economic crisis. Senate Minority Leader Mitch McConnell is at the center of the storm and Stephen Colbert shared his thoughts during his Late Show monologue.
Treasury Secretary Janet Yellen warned that failure to raise the debt ceiling could lead the U.S. to default on its debut by Oct. 18. This could cause interest rates to spike, the value of the dollar to drop, lost jobs, and the start of another recession. It’s easy to see why the U.S. has never done it before.
However, the odds have increased thanks in part to Republican opposition. Senator McConnell argued that bipartisanship wasn’t a “light switch” that Democrats could flip on when they needed money and flip off when they wanted to spend money.
These comments caught the attention of Stephen Colbert. The Late Show host didn’t hold back as he ripped Senator McConnell once again.
Stephen Colbert says Mitch McConnell is holding up raising the debt ceiling
Stephen Colbert said it was no surprise that Senate Minority Leader Mitch McConnell was the hold-up when it came to raising the debt ceiling and avoiding “financial armageddon.”
Colbert compared McConnell to the Great Goblin from The Hobbit. It probably wasn’t easy for Colbert to talk McConnell and Tolkein in the same breath, but at least the comedian picked a villain.
McConnell’s lightswitch analogy doesn’t quite land with Colbert. Instead, he compares bipartisanship to a Peloton bike: “something we talk a lot about having, but never actually turn it on. It does make a nice coat rack.”
One proposed solution to the situation? Minting a trillion-dollar coin. However, Colbert finds this idea just as absurd as McConnell’s lightswitch monologue. Then again, anything sounds better than dealing with the Senate’s Great Goblin to Colbert.
What did you think of Stephen Colbert’s monologue? Share your thoughts in the comment section below.