Republicans and the debt ceiling

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Republicans cannot threaten the debt ceiling and claim good faith. Holding the debt ceiling hostage WILL result in higher interest rates, higher interest burden by federal government, it will increase inflation and drive a recession, it will create indernational doubt about the stability of the United States and of the Dollar as currency, and will only give all the more of a boost to China as the leading world power. It is complete stupidity.

Everything you said is false. You are talking about a default on the debt,
which is not what is at issue here. Instead it is about whether to borrow more money.
Borrowing more money can also lead to higher interest rates. Not borrowing money and paying off your debts leads to lower interest rates.
Ultimately, interest rates come from inflation, not the other way around.

Actually, yes that is what is at issue here. Do we pay the bills run up be the past 250 years of government administration, and particularly the SEVEN TRILLION amassed by the Trump Administration and the GOP when it controlled the House and Senate and passed an unfunded tax cut?

All of these budget issues SHOULD HAVE HAPPENED DURING BUDGET NEGOTIATIONS! Now is not the time. Focus on the next budget instead, dummies.

That budget happened during a lame duck session, when these guys were not in power.
This same attack happened when Obama was President, and the Republicans were then attacked for not passing the budget Obama wanted, with some calling them traitors for not doing so.

The President's budget is compiled via a painstaking, thorough, time-consuming process of budget review and budget requests from each agency, which are then compiled into the PresBud. Every single line-item budget activity is tied to specific statutes, OMB directives, agency mission et cetera.

It's pretty presumptuous of Congress to just override the PresBud with their own random, arbitrary and capricious numbers that they just pull out of their asses, like "oh I don't like 'x' agency so we're gonna cut them 30%.

[Anonymous]

I’d love for a Democrat to introduce a bill to balance the budget through tax increases. Let’s see how serious the GOP really is about deficits.

[Anonymous]

Anonymous wrote:I’d love for a Democrat to introduce a bill to balance the budget through tax increases. Let’s see how serious the GOP really is about deficits.

I think they should agree to negotiations and offer tax increases and cuts to DoD

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’d love for a Democrat to introduce a bill to balance the budget through tax increases. Let’s see how serious the GOP really is about deficits.

I think they should agree to negotiations and offer tax increases and cuts to DoD

Negotiations? No. They should just refuse to increase the debt limit until the republicans agree to all their demands for tax increases and defense cuts

[Anonymous]

What do the republicans think is going to happen to welfare/social spending after their debt ceiling antics cause a financial crisis and depression?

[Anonymous]

If Republicans expect to just chop away at civilian agency budgets, what is it that they propose repealing to reduce the statutory and regulatory requirements under their purview that they need those budgets for? And if they don't repeal statutory mandates then are they prepared to pay when those agencies get sued by states and others for not following the law?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Republicans cannot threaten the debt ceiling and claim good faith. Holding the debt ceiling hostage WILL result in higher interest rates, higher interest burden by federal government, it will increase inflation and drive a recession, it will create indernational doubt about the stability of the United States and of the Dollar as currency, and will only give all the more of a boost to China as the leading world power. It is complete stupidity.

Everything you said is false. You are talking about a default on the debt,
which is not what is at issue here. Instead it is about whether to borrow more money.
Borrowing more money can also lead to higher interest rates. Not borrowing money and paying off your debts leads to lower interest rates.
Ultimately, interest rates come from inflation, not the other way around.

interest rates for sovereign debt are based on default risk. If you want to see high interest rates, look at what happens to countries post-default

Correct, but default is not at issue here. It is about whether to borrow more money. The more you borrow, the higher the risk of default.

I really don't think you understand how any of this works.

[Anonymous]

Anonymous wrote:What do the republicans think is going to happen to welfare/social spending after their debt ceiling antics cause a financial crisis and depression?

Seriously.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Republicans cannot threaten the debt ceiling and claim good faith. Holding the debt ceiling hostage WILL result in higher interest rates, higher interest burden by federal government, it will increase inflation and drive a recession, it will create indernational doubt about the stability of the United States and of the Dollar as currency, and will only give all the more of a boost to China as the leading world power. It is complete stupidity.

Everything you said is false. You are talking about a default on the debt,
which is not what is at issue here. Instead it is about whether to borrow more money.
Borrowing more money can also lead to higher interest rates. Not borrowing money and paying off your debts leads to lower interest rates.
Ultimately, interest rates come from inflation, not the other way around.

Actually, yes that is what is at issue here. Do we pay the bills run up be the past 250 years of government administration, and particularly the SEVEN TRILLION amassed by the Trump Administration and the GOP when it controlled the House and Senate and passed an unfunded tax cut?

All of these budget issues SHOULD HAVE HAPPENED DURING BUDGET NEGOTIATIONS! Now is not the time. Focus on the next budget instead, dummies.

That budget happened during a lame duck session, when these guys were not in power.
This same attack happened when Obama was President, and the Republicans were then attacked for not passing the budget Obama wanted, with some calling them traitors for not doing so.

The President's budget is compiled via a painstaking, thorough, time-consuming process of budget review and budget requests from each agency, which are then compiled into the PresBud. Every single line-item budget activity is tied to specific statutes, OMB directives, agency mission et cetera.

It's pretty presumptuous of Congress to just override the PresBud with their own random, arbitrary and capricious numbers that they just pull out of their asses, like "oh I don't like 'x' agency so we're gonna cut them 30%.

This effort seems so painstaking and thorough, though! 🙃
[/twitter][twitter]https://twitter.com/atrupar/status/1620062669876203521?s=61&t=ph1z9HY8Vi2kvQvEVUJZcw

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Republicans cannot threaten the debt ceiling and claim good faith. Holding the debt ceiling hostage WILL result in higher interest rates, higher interest burden by federal government, it will increase inflation and drive a recession, it will create indernational doubt about the stability of the United States and of the Dollar as currency, and will only give all the more of a boost to China as the leading world power. It is complete stupidity.

Everything you said is false. You are talking about a default on the debt,
which is not what is at issue here. Instead it is about whether to borrow more money.
Borrowing more money can also lead to higher interest rates. Not borrowing money and paying off your debts leads to lower interest rates.
Ultimately, interest rates come from inflation, not the other way around.

Actually, yes that is what is at issue here. Do we pay the bills run up be the past 250 years of government administration, and particularly the SEVEN TRILLION amassed by the Trump Administration and the GOP when it controlled the House and Senate and passed an unfunded tax cut?

All of these budget issues SHOULD HAVE HAPPENED DURING BUDGET NEGOTIATIONS! Now is not the time. Focus on the next budget instead, dummies.

That budget happened during a lame duck session, when these guys were not in power.
This same attack happened when Obama was President, and the Republicans were then attacked for not passing the budget Obama wanted, with some calling them traitors for not doing so.

The President's budget is compiled via a painstaking, thorough, time-consuming process of budget review and budget requests from each agency, which are then compiled into the PresBud. Every single line-item budget activity is tied to specific statutes, OMB directives, agency mission et cetera.

It's pretty presumptuous of Congress to just override the PresBud with their own random, arbitrary and capricious numbers that they just pull out of their asses, like "oh I don't like 'x' agency so we're gonna cut them 30%.

This effort seems so painstaking and thorough, though! 🙃

[Anonymous]

Anonymous wrote:

Anonymous wrote:What do the republicans think is going to happen to welfare/social spending after their debt ceiling antics cause a financial crisis and depression?

Seriously.

I'm sure the millions of newly unemployed will be clamoring for cuts to medicaid, unemployment, and other safety net supports.

[Anonymous]

Schatz is 🎯

[Anonymous]

[Anonymous]

Anonymous wrote:Schatz is 🎯

Yep. Republican clown show.

[Anonymous]

Anonymous wrote:

Dems should call their bluff by saying "HERE's our plan: Trim some of the DoD bloat while getting back to mission and positionng ourselves better for defending ourselves and allies, and oh, we're going to generate revenue by raising corporate taxes, closing loopholes for the rich, eliminating or rducing some big corporate subsidies, adding another progressive bracket for the wealthy, penalizing offshoring of finances, and removing the contribution cap from social security.