In response to my attacks, Newt Gingrich threatened to refuse to raise the debt limit and thus put America in default if I vetoed their budget bills. Raising the debt limit was merely a technical act that recognized the inevitable: as long as America continued to run deficits, the annual debt would increase, and the government would be required to sell more bonds to finance it. Increasing the debt limit simply gave the Treasury Department authority to do that. As long as Democrats were in the majority, Republicans could cast symbolic votes against raising the debt limit and pretend that they hadn’t contributed to the necessity to do it. Many Republicans in the House had never voted to raise the debt limit and didn’t relish doing so now, so I had to take Gingrich’s threat seriously. If America defaulted on its debt, the consequences could be severe. In more than two hundred years, the United States had never failed to pay its debts. Default would shake investor confidence in our reliability. As we headed into the final showdown, I couldn’t deny that Newt had a bargaining chip, but I was determined not to be blackmailed. If he followed through on his threat, he would be hurt, too. Default ran the risk of increasing interest rates, and even a small increase would add hundreds of billions of dollars to home mortgage payments. Ten million Americans had variable-rate mortgages tied to federal interest rates. If Congress didn’t raise the debt limit, people could pay what Al Gore called a
“Gingrich surcharge” on their monthly mortgage payments. The Republicans would have to think twice before letting America go into default.
In the first week of October, the pope came to America again, and Hillary and I went to meet him at Newark’s magnificent Gothic cathedral. As we had in Denver and at the Vatican, His Holiness and I met alone and mostly talked about Bosnia. The pope encouraged our efforts for peace, with an observation that stuck with me: he said the twentieth century had begun with a war in Sarajevo, and I must not allow the century to end with a war in Sarajevo.
When our meeting concluded, the pope gave me a lesson in politics. First, he left the cathedral for a spot a couple of miles away so that he could drive back in his “popemobile,” with its roof of clear, bulletproof glass, waving to the people who had crowded the streets. By the time he reached the church, the congregation was seated. Hillary and I were in the front pew with local and state officials and prominent New Jersey Catholics. The massive oak doors opened, revealing the pontiff in his resplendent white cassock and cape, and the crowd stood and began to clap. As the pope began to walk down the aisle with his arms spread out to touch hands with people on either side of the aisle, the applause turned into cheers and roars. I noticed a group of nuns standing on their pews and screaming like teenagers at a rock concert. When I asked a man near me about it, he explained that they were Carmelites, members of an order that lived a cloistered existence completely apart from society. The pope had given them a dispensation to come to the cathedral. He sure knew how to build a crowd. I just shook my head and said, “I’d hate to have to run against that man.”
On the day after I met with the pope, we made progress on Bosnia, as I announced that all the parties had agreed to a cease-fire. A week later Bill Perry stated that a peace agreement would require NATO to send troops to Bosnia to enforce it. Moreover, since our responsibility to participate in NATO missions was clear, he did not believe we were required to seek advance approval from Congress. I thought Dole and Gingrich might be relieved not to have a vote on the Bosnia mission; they were both internationalists who knew what we had to do, but there were many Republicans in both chambers who strongly disagreed.
On October 15, I reinforced my determination to end the Bosnian war and hold those who had perpetrated war crimes accountable when I went to the University of Connecticut with my friend Senator Chris Dodd to inaugurate the research center named for his father. Before going to the Senate, Tom Dodd had been the executive trial counsel at the Nuremberg War Crimes Tribunal. In my remarks, I strongly endorsed the existing war crimes tribunals for the former Yugoslavia and Rwanda, to which we were contributing money and personnel, and supported the establishment of a permanent tribunal to deal with war crimes and other atrocities that violated human rights. Eventually, the idea would take root in the International Criminal Court.