Republicans and the debt ceiling

[Anonymous]

Anonymous wrote:

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.

Like I said, people are lying because they enjoy the drama. Even McCarthy disagrees with me.

[Anonymous]

Anonymous wrote:

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.

However, that would not be defaulting on the debt as people on here claim.
The revenue coming in can cover much more than interest on the debt.
I'm more worried about higher interest rates adding trillions in debt payments every year. This is also catastrophic for the economy.

[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?

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.

Clinton got budget surpluses after cutting capital gains taxes.

[Anonymous]

Anonymous wrote:

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.

That's why they are acting like it is a big deal. The only leverage is that without the debt ceiling increase, spending would have to be cut, while the White House has control over how they cut spending. They could threaten to withhold Social Security checks, as other White Houses have done, and blame it all on Republicans.

[Anonymous]

Anonymous wrote:

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.

You still have it wrong. There is no refusal to pay debts. In your analogy it would be about not putting more money on the credit card, whether to pay groceries or something else.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

However, that would not be defaulting on the debt as people on here claim.
The revenue coming in can cover much more than interest on the debt.
I'm more worried about higher interest rates adding trillions in debt payments every year. This is also catastrophic for the economy.

How stupid do you think people here are? The American public is q becoming quite aware of what your plan to service the debt looks like. It’s not a good one. It’s not a serious one.

Negotiate the budget without creating the looming threat of economic collapse mkay?

[Anonymous]

They passed a budget in the lame duck session without buyin from Republicans, and now they complain Republicans won't support the budget that was passed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

You still have it wrong. There is no refusal to pay debts. In your analogy it would be about not putting more money on the credit card, whether to pay groceries or something else.

You are wrong. The debt ceiling is about spending that has already happened. The GOP cut taxes, increased spending, increased spending again and had no mechanism to pay for it, so the debt ceiling had to be raised three times under Trump, which happened in a bi-partisan manner. The current debt ceiling is to pay for the same Trump debt as before, and now the GOP is balking paying for it.

(note, the Biden spending has been paying for itself)

[Anonymous]

Anonymous wrote:They passed a budget in the lame duck session without buyin from Republicans, and now they complain Republicans won't support the budget that was passed.

And Republicans did that multiple times before. In fact there has only been one President in our lifetime that balanced a budget, Clinton. Everyone else is responsible for this debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

However, that would not be defaulting on the debt as people on here claim.
The revenue coming in can cover much more than interest on the debt.
I'm more worried about higher interest rates adding trillions in debt payments every year. This is also catastrophic for the economy.

Yes, it would be defaulting because there would not be enough money to both pay the debt and legally required payments. There's no legal authority to stop making those other payments and just pay the debt, so they are just running through all the cash until there is nothing left to pay any of the bills. This is what is happening right now. They just got a big chunk of tax payments for the first quarter (although not as big as they thought). Once they've run through that cash the gov won't be able to pay any bills, including the debt, because there will be no cash left at all. That is default.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

However, that would not be defaulting on the debt as people on here claim.
The revenue coming in can cover much more than interest on the debt.
I'm more worried about higher interest rates adding trillions in debt payments every year. This is also catastrophic for the economy.

"There would not be that much defaulting" isn't even language that should be entertained. The amount of default that the Constitution allows is ZERO. There is no "how much." Any "how much is allowable" legislation is unconstutional and any debate to consider it should be shut down.

[Anonymous]

Anonymous wrote:They passed a budget in the lame duck session without buyin from Republicans, and now they complain Republicans won't support the budget that was passed.

A couple dozen republicans voted for it, including 18 R senators.

[Anonymous]

Anonymous wrote:They passed a budget in the lame duck session without buyin from Republicans, and now they complain Republicans won't support the budget that was passed.

Complete lie. 18 Republicans in the Senate voted for the Omnibus, and 9 Republicans in the House voted for the Omnibus

[Anonymous]

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

However, that would not be defaulting on the debt as people on here claim.
The revenue coming in can cover much more than interest on the debt.
I'm more worried about higher interest rates adding trillions in debt payments every year. This is also catastrophic for the economy.

Yes, it would be defaulting because there would not be enough money to both pay the debt and legally required payments. There's no legal authority to stop making those other payments and just pay the debt, so they are just running through all the cash until there is nothing left to pay any of the bills. This is what is happening right now. They just got a big chunk of tax payments for the first quarter (although not as big as they thought). Once they've run through that cash the gov won't be able to pay any bills, including the debt, because there will be no cash left at all. That is default.

+1 Any incurred obligation not paid is default. And, by incurred obligation, it's making good on last year's budget. Next year's budget, revenue and fiscal plan and whatever cuts you want is an entirely separate matter.

And, the Republicans need to stop throwing around glib slogans like "abolish the IRS and EPA" because it only exposes their ignorance. Sure, abolish the EPA and then who enforces the Clean Water Act, Clean Air Act and everything else? The government WILL immediately find itself being sued if it does not follow laws and statutes, and WILL lose. And just try and go ahead trying to repeal those laws... You'll be sure to drive the final stake through the GOP's heart doing it.