Republicans and the debt ceiling

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden can ignore the congress and just tell the world that the US will meet its obligations.

What recourse does the Congress have? It is constitutional to meet the faith and credit of the US on behalf of the Executive Branch.

The House has already passed the bill to do this. The ball is in the Senate's court along with Biden.

You think anyone is buying this???

You passed a bill that holds the full faith and credit of the IS hostage to the insane demands of your base. That’s all you did.

It does nothing of the sort. Suppose nothing passed. There is still revenue coming in. This money is more than enough to pay interest on the national debt.

There is no default in play, but both sides enjoy pretending it is. The only thing being held up is the ability of the executive to borrow MORE money.
There is no scenario, whether a deal is reached or not, that would produce a default on US debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden can ignore the congress and just tell the world that the US will meet its obligations.

What recourse does the Congress have? It is constitutional to meet the faith and credit of the US on behalf of the Executive Branch.

The House has already passed the bill to do this. The ball is in the Senate's court along with Biden.

You think anyone is buying this???

You passed a bill that holds the full faith and credit of the IS hostage to the insane demands of your base. That’s all you did.

It does nothing of the sort. Suppose nothing passed. There is still revenue coming in. This money is more than enough to pay interest on the national debt.

There is no default in play, but both sides enjoy pretending it is. The only thing being held up is the ability of the executive to borrow MORE money.
There is no scenario, whether a deal is reached or not, that would produce a default on US debt.

The Secretary of the Treasury disagrees with you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Sounds reasonable to me. Increase debt ceiling without conditions and deal with the budget during the budget process this summer and fall.

Biden cannot be trusted to do anything to reduce spending without something hanging over his head.
He screwed Manchin on the "Inflation Reduction Act." We know he cannot be trusted.

Why didn’t republicans reduce spending when they were in power?

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Sounds reasonable to me. Increase debt ceiling without conditions and deal with the budget during the budget process this summer and fall.

Biden cannot be trusted to do anything to reduce spending without something hanging over his head.
He screwed Manchin on the "Inflation Reduction Act." We know he cannot be trusted.

Why didn’t republicans reduce spending when they were in power?

+1

It almost sounds like you feel the Republicans are hypocrites.

[Anonymous]

almost

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Sounds reasonable to me. Increase debt ceiling without conditions and deal with the budget during the budget process this summer and fall.

Biden cannot be trusted to do anything to reduce spending without something hanging over his head.
He screwed Manchin on the "Inflation Reduction Act." We know he cannot be trusted.

Why didn’t republicans reduce spending when they were in power?

+1

It almost sounds like you feel the Republicans are hypocrites.

Could it be? Well I never.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden can ignore the congress and just tell the world that the US will meet its obligations.

What recourse does the Congress have? It is constitutional to meet the faith and credit of the US on behalf of the Executive Branch.

The House has already passed the bill to do this. The ball is in the Senate's court along with Biden.

You think anyone is buying this???

You passed a bill that holds the full faith and credit of the IS hostage to the insane demands of your base. That’s all you did.

It does nothing of the sort. Suppose nothing passed. There is still revenue coming in. This money is more than enough to pay interest on the national debt.

There is no default in play, but both sides enjoy pretending it is. The only thing being held up is the ability of the executive to borrow MORE money.
There is no scenario, whether a deal is reached or not, that would produce a default on US debt.

The law requires the government to make a lot of payments beyond interest on the debt. Also, stopping all those payments would be catastrophic for the economy.

[Anonymous]

The ball is in Biden's court now.

Republicans have passed a bill that would increase the debt ceiling. And, make needed cuts to get Biden to stop his out of control spending.

What will Biden do?

[Anonymous]

Anonymous wrote:The ball is in Biden's court now.

Republicans have passed a bill that would increase the debt ceiling. And, make needed cuts to get Biden to stop his out of control spending.

What will Biden do?

Sure, let’s repeal the Trump tax cuts, cut the defense budget by 25% and eliminate the limit on social security contributions. Oh and while we’re at it, let’s make taxes on capital gains equal to those on income. Problem solved. We’ll be back to budget surpluses like we were under Clinton.

[Anonymous]

Anonymous wrote:The ball is in Biden's court now.

Republicans have passed a bill that would increase the debt ceiling. And, make needed cuts to get Biden to stop his out of control spending.

What will Biden do?

Ironically, the republicans can't actually agree on any specific cuts. Biden should come back to the requesting specifics

[Anonymous]

Will the Republicans in this thread at least be honest and acknowledge that Republicans have not cared about the debt ceiling limit when a Republican is in the Oval Office?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden can ignore the congress and just tell the world that the US will meet its obligations.

What recourse does the Congress have? It is constitutional to meet the faith and credit of the US on behalf of the Executive Branch.

The House has already passed the bill to do this. The ball is in the Senate's court along with Biden.

You think anyone is buying this???

You passed a bill that holds the full faith and credit of the IS hostage to the insane demands of your base. That’s all you did.

It does nothing of the sort. Suppose nothing passed. There is still revenue coming in. This money is more than enough to pay interest on the national debt.

There is no default in play, but both sides enjoy pretending it is. The only thing being held up is the ability of the executive to borrow MORE money.
There is no scenario, whether a deal is reached or not, that would produce a default on US debt.

If it is NBD then how can that strategy act as compelling leverage for negotiating? I think you’re full of crap.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The ball is in Biden's court now.

Republicans have passed a bill that would increase the debt ceiling. And, make needed cuts to get Biden to stop his out of control spending.

What will Biden do?

Ironically, the republicans can't actually agree on any specific cuts. Biden should come back to the requesting specifics

Honest /= Republican

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden can ignore the congress and just tell the world that the US will meet its obligations.

What recourse does the Congress have? It is constitutional to meet the faith and credit of the US on behalf of the Executive Branch.

The House has already passed the bill to do this. The ball is in the Senate's court along with Biden.

You think anyone is buying this???

You passed a bill that holds the full faith and credit of the IS hostage to the insane demands of your base. That’s all you did.

It does nothing of the sort. Suppose nothing passed. There is still revenue coming in. This money is more than enough to pay interest on the national debt.

There is no default in play, but both sides enjoy pretending it is. The only thing being held up is the ability of the executive to borrow MORE money.
There is no scenario, whether a deal is reached or not, that would produce a default on US debt.

Fine, you’re holding not just the full faith and credit of the US hostage but the entire economy. Make more sense to you now?

You want to dismantle this country.

Negotiate the budget for future spending, by all means.

But refusing to pay our debts as leverage in that negotiation is not just reckless, it’s insane. Using your grocery money to pay your credit card debt is not a solution to anything. You’re gonna end up starving on the street.

[Anonymous]

Biden could be a bit more outspoken about the damage the republicans could cause but I’m sure he doesn’t want to start a panic. Smart people are already panicking enough. The likely solution is that enough republicans will defect and just raise the debt limit. Because they want to be re-elected and they get their money from people who have had it with the base.