Republicans and the debt ceiling

[Anonymous]

Anonymous wrote:Started post elsewhere as did not see this thread -

Any feds or Hill workers here in the know about how worried we should be ? With a divided Congress, and nut jobs in prominent committee positions thanks to the House Speaker election debacle - is it highly unlikely that Congress will pass a debt ceiling increase?

Any chance for bipartisanship on passing a debt ceiling increase?


CBO report KEY POINTS
https://www.cnbc.com/2023/02/15/debt-ceiling-us-is...snt-raise-limits-cbo-says.html

* The nonpartisan Congressional Budget Office issued a new estimate of how long the Treasury Department can sustain its extraordinary measures to prevent a debt default: Five to eight more months.
* If Congress does not pass a debt ceiling increase before these measures are exhausted, the government will have to delay certain payments, default on its debt, or both, CBO said.
* The CBO also revised its projection for the size of the annual federal budget deficit over the next decade.


US risks debt default as soon as July: CBO
https://thehill.com/finance/3859710-us-could-default-as-early-as-july-cbo/

The federal government could default on its debt as early as July if Congress is unable to raise the debt limit, according to a report released Wednesday by the Congressional Budget Office (CBO).
The nonpartisan budget scorekeeper said the Treasury Department could exhaust the so-called “extraordinary measures” it began taking last month to stave off a default sometime between July and September.
….
The report comes a month after the Treasury warned it could run out of the emergency measures as soon as June, after the national debt reached the roughly $31.4 trillion threshold set by Congress more than a year ago.

I think Biden caves. You can't play chicken if the other guy is suicidal. Republicans in power don't seem to care

[Anonymous]

Anonymous wrote:

Anonymous wrote:Started post elsewhere as did not see this thread -

Any feds or Hill workers here in the know about how worried we should be ? With a divided Congress, and nut jobs in prominent committee positions thanks to the House Speaker election debacle - is it highly unlikely that Congress will pass a debt ceiling increase?

Any chance for bipartisanship on passing a debt ceiling increase?


CBO report KEY POINTS
https://www.cnbc.com/2023/02/15/debt-ceiling-us-is...snt-raise-limits-cbo-says.html

* The nonpartisan Congressional Budget Office issued a new estimate of how long the Treasury Department can sustain its extraordinary measures to prevent a debt default: Five to eight more months.
* If Congress does not pass a debt ceiling increase before these measures are exhausted, the government will have to delay certain payments, default on its debt, or both, CBO said.
* The CBO also revised its projection for the size of the annual federal budget deficit over the next decade.


US risks debt default as soon as July: CBO
https://thehill.com/finance/3859710-us-could-default-as-early-as-july-cbo/

The federal government could default on its debt as early as July if Congress is unable to raise the debt limit, according to a report released Wednesday by the Congressional Budget Office (CBO).
The nonpartisan budget scorekeeper said the Treasury Department could exhaust the so-called “extraordinary measures” it began taking last month to stave off a default sometime between July and September.
….
The report comes a month after the Treasury warned it could run out of the emergency measures as soon as June, after the national debt reached the roughly $31.4 trillion threshold set by Congress more than a year ago.

I think Biden caves. You can't play chicken if the other guy is suicidal. Republicans in power don't seem to care

How can he cave if the ahi use is blocking efforts to raise the debt limit ?

[Anonymous]

Joe Biden talks about the debt - January 1995

[Anonymous]

[Anonymous]

Kevin McCarthy has zero clue what his side wants in the debt ceiling standoff.

[Anonymous]

Anonymous wrote:

That reads like the list of demands from a bank heist movie circa 1995. "I want a helicopter on the roof with $1 million in unmarked bills and a plane at the airport ready to fly to south america."

[Anonymous]

Anonymous wrote:Kevin McCarthy has zero clue what his side wants in the debt ceiling standoff.

No he knows. He just does not want to say it because it would be hugely unpopular.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

That reads like the list of demands from a bank heist movie circa 1995. "I want a helicopter on the roof with $1 million in unmarked bills and a plane at the airport ready to fly to south america."

Heh heh heh “I have comrades in arms around the world languishing in prison.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:Kevin McCarthy has zero clue what his side wants in the debt ceiling standoff.

No he knows. He just does not want to say it because it would be hugely unpopular.

This doesn’t seem like anyone knows anything.

[Anonymous]

Anonymous wrote:

It’s a waste of time to engage with the Freedom Caucus clowns. At least half of them will never vote for any major package that could pass the Senate or that Biden would sign. They won’t negotiate in good faith.

[Anonymous]

Anyone notice that the GOP controlled House has literally not done anything in three months? Zero.

[Anonymous]

At this point, Bidem should simply announce that the faith and credit of the United States is IN the Constitution, and as President he is honoring the US debt and credit, and simply ignore the House.

[Anonymous]

Anonymous wrote:Anyone notice that the GOP controlled House has literally not done anything in three months? Zero.

Lots of performative BS, like Jim Jordan's clown show.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Anyone notice that the GOP controlled House has literally not done anything in three months? Zero.

Lots of performative BS, like Jim Jordan's clown show.

Yes, we've noticed. It's all pr type bills to pander to the uneducated "base" but nothing to actually help Americans or keep the country solvent.

It's interesting that many countries are already floating their own currencies and getting away from the dollar. Even if the GOP and MAGA crazies rlent at the last moment, this time the damage to the US reputation internationally will already be done.

[Anonymous]