Republicans and the debt ceiling

[Anonymous]

Ever since the GOP started caring about the debt, they've decided that they only care while a democrat is president. This stretches all the way George W. Bush.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This massive debt, combined with inflation, is a huge problem.
High inflation produces higher interest rates. I remember when the government was paying 6% on debt. If they did that now, that would add $2 trillion dollars a year in debt payments.
Instead of trying to deal with this, all we get are partisan talking points.

Why are they talking about default? This is just a lie. The issue is to not pick up more debt.
The only way default comes into play, is if government doesn't have enough revenue to make payments on debt, or if the President borrows money without authorization from Congress, which can then be defaulted as unauthorized debt.

What in the world are you talking about? If necessary spending + debt service exceeds revenues, the government needs to take on more debt to meet all of its obligations. If you can’t take on more debt, then you have to cut some of your payments. What happens if the US had to choose between issuing social security payments to seniors or making debt payments?

You pay the debt and hold back the Social Security. When Clinton was President, this is what he talked about as the consequence of not passing a debt ceiling increase.
This was also a lie, as it could be managed, but it made more sense than talking about default.
This is why Democrats pass the debt ceiling increase under a Republican President. They are the party of government, and the President can make it somewhat painless with the choices made if they want to. They can have the hits go to Democratic constituencies like government workers.

FAA is government workers. Military are government workers. USPS is government workers. Should we just shut them all down?

SSA is government workers. Not sure how you think checks go out (not to mention problems being solved) without is.

[Anonymous]

“In the 10 debt ceiling votes under a Republican administration, an average of 65 percent of House Republicans and 74 percent of Senate Republicans voted in favor of adjusting or suspending it. But in Democratic administrations, those numbers decline to 24 percent and 20 percent, respectively.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This massive debt, combined with inflation, is a huge problem.
High inflation produces higher interest rates. I remember when the government was paying 6% on debt. If they did that now, that would add $2 trillion dollars a year in debt payments.
Instead of trying to deal with this, all we get are partisan talking points.

Why are they talking about default? This is just a lie. The issue is to not pick up more debt.
The only way default comes into play, is if government doesn't have enough revenue to make payments on debt, or if the President borrows money without authorization from Congress, which can then be defaulted as unauthorized debt.

What in the world are you talking about? If necessary spending + debt service exceeds revenues, the government needs to take on more debt to meet all of its obligations. If you can’t take on more debt, then you have to cut some of your payments. What happens if the US had to choose between issuing social security payments to seniors or making debt payments?

You pay the debt and hold back the Social Security. When Clinton was President, this is what he talked about as the consequence of not passing a debt ceiling increase.
This was also a lie, as it could be managed, but it made more sense than talking about default.
This is why Democrats pass the debt ceiling increase under a Republican President. They are the party of government, and the President can make it somewhat painless with the choices made if they want to. They can have the hits go to Democratic constituencies like government workers.

This is kind of sociopathic. Do you realize how many Americans wholly rely on social security to survive?

Yes. There are other options with debt ceiling given how much revenue comes in, but of the two presented, a government shouldn't default on its debt.

[Anonymous]

Anonymous wrote:“In the 10 debt ceiling votes under a Republican administration, an average of 65 percent of House Republicans and 74 percent of Senate Republicans voted in favor of adjusting or suspending it. But in Democratic administrations, those numbers decline to 24 percent and 20 percent, respectively.”

That’s because the GOP wants to punish Americans for not voting for them. They aren’t open to adjusting their policies to attract voters. Just want to be cruel.

[Anonymous]

If the GOP has such a great plan for cutting the deficit, they should put it in a bill and vote on it. Tell us all what you want to cut!

[Anonymous]

Anonymous wrote:If the GOP has such a great plan for cutting the deficit, they should put it in a bill and vote on it. Tell us all what you want to cut!

It is beyond me why people can’t see that their only objective is to cause pain and deflect blame for it on the opposing party. None of what they want to do is popular.

Also, something people need to understand right now is that the debt that the GOP is threatening not to service is spending that they already authorized. If they want to reduce spending go ahead and try to do that, but refusing to pay the bills until you get what you want is not the way and will cost way more than it ever saves. I can’t even believe we have to have this conversation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DOJ needs to declare the debt limit unconstitutional and move on.

It's not a ridiculous argument

"The validity of the public debt of the United States, authorized by law, ... shall not be questioned. "

I sincerely hope Biden can navigate a way out of this that doesn’t involve giving House Republicans a bunch of easy wins. My dream is that he will stand up and say, “If the American people want to cut Social Security, they can elect a Republican House, send 60 Republicans to the Senate, and put a Republican in the White House. But it will *never* happen on my watch!”

(Thunderous applause.)

I fear, however, he will pathetically negotiate against himself and get rolled and utterly demoralize his base.

This WH say that there will be no negotiating or compromise.
That's a far cry from what Biden said back in 2011.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DOJ needs to declare the debt limit unconstitutional and move on.

It's not a ridiculous argument

"The validity of the public debt of the United States, authorized by law, ... shall not be questioned. "

I sincerely hope Biden can navigate a way out of this that doesn’t involve giving House Republicans a bunch of easy wins. My dream is that he will stand up and say, “If the American people want to cut Social Security, they can elect a Republican House, send 60 Republicans to the Senate, and put a Republican in the White House. But it will *never* happen on my watch!”

(Thunderous applause.)

I fear, however, he will pathetically negotiate against himself and get rolled and utterly demoralize his base.

This WH say that there will be no negotiating or compromise.
That's a far cry from what Biden said back in 2011.

He learned a lesson from that and GOP action afterward. He believed the GOP's claim that it cared about debt and deficits. But he now understands they don't actually care about it because once they had power they immediately turned on the spigots.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DOJ needs to declare the debt limit unconstitutional and move on.

It's not a ridiculous argument

"The validity of the public debt of the United States, authorized by law, ... shall not be questioned. "

I sincerely hope Biden can navigate a way out of this that doesn’t involve giving House Republicans a bunch of easy wins. My dream is that he will stand up and say, “If the American people want to cut Social Security, they can elect a Republican House, send 60 Republicans to the Senate, and put a Republican in the White House. But it will *never* happen on my watch!”

(Thunderous applause.)

I fear, however, he will pathetically negotiate against himself and get rolled and utterly demoralize his base.

This WH say that there will be no negotiating or compromise.
That's a far cry from what Biden said back in 2011.

So what?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DOJ needs to declare the debt limit unconstitutional and move on.

It's not a ridiculous argument

"The validity of the public debt of the United States, authorized by law, ... shall not be questioned. "

I sincerely hope Biden can navigate a way out of this that doesn’t involve giving House Republicans a bunch of easy wins. My dream is that he will stand up and say, “If the American people want to cut Social Security, they can elect a Republican House, send 60 Republicans to the Senate, and put a Republican in the White House. But it will *never* happen on my watch!”

(Thunderous applause.)

I fear, however, he will pathetically negotiate against himself and get rolled and utterly demoralize his base.

This WH say that there will be no negotiating or compromise.
That's a far cry from what Biden said back in 2011.

So what?

He learned that the GOP doesn't negotiate in good faith. Let's let them make this bed and take the blame for the fallout. Enough with holding the economy hostage. Let the chips fall where they may and hope it finally leads to enough pain that they (or wealthy donors) fold under pressure.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DOJ needs to declare the debt limit unconstitutional and move on.

It's not a ridiculous argument

"The validity of the public debt of the United States, authorized by law, ... shall not be questioned. "

I sincerely hope Biden can navigate a way out of this that doesn’t involve giving House Republicans a bunch of easy wins. My dream is that he will stand up and say, “If the American people want to cut Social Security, they can elect a Republican House, send 60 Republicans to the Senate, and put a Republican in the White House. But it will *never* happen on my watch!”

(Thunderous applause.)

I fear, however, he will pathetically negotiate against himself and get rolled and utterly demoralize his base.

This WH say that there will be no negotiating or compromise.
That's a far cry from what Biden said back in 2011.

So what?

He learned that the GOP doesn't negotiate in good faith. Let's let them make this bed and take the blame for the fallout. Enough with holding the economy hostage. Let the chips fall where they may and hope it finally leads to enough pain that they (or wealthy donors) fold under pressure.

Biden should spell out every single day until they fold exactly what that pain will look like. With numbers. What absolute morons.

[Anonymous]

Anonymous wrote:How do Congressional members + their staff get paid? US Treasury should stop their paychecks first.

Pretty sure they passed a law that they will get paid. Staffers not so much.

[Anonymous]

There is no way McCarthy could deliver the votes for a deal. A bunch of Republicans are never going to vote to raise the debt ceiling while a Democrat is President. There is no point negotiating with someone who can’t deliver the votes.

[Anonymous]

Anonymous wrote:There is no way McCarthy could deliver the votes for a deal. A bunch of Republicans are never going to vote to raise the debt ceiling while a Democrat is President. There is no point negotiating with someone who can’t deliver the votes.

+1. They can’t even agree among themselves what they want. Biden is absolutely right to tell them to stuff it.