Republicans and the debt ceiling
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Anonymous
I get that you don’t understand the budget and appropriations. It’s complicated. The debt ceiling increase, no matter how big, would not allow any discretionary spending past September 30, 2023. That’s when the current year’s appropriations acts end. This congress will have to enact new ones and McCarthy is free to try to negotiate any cuts in that hw wants to. But McCarthy doesn’t want to have that negotiation and take responsibility for putting cuts on the table. |
Anonymous
There is the expectation that he will do that, but he's refusing because he knows that he can't find 22% to cut without touching spending that he has pledged not to cut |
Anonymous
So where is McCarthys budget then? |
Anonymous
| Put another way, Biden knew how much he could spend under the current debt limit and he blew right past it with the Infrastructure Bill. He is going to push us to a place where we devalue the dollar. He is such an incredibly bad president for the economy and all the smoke and mirrors don’t hide what people see in their bank accounts. People see the layoffs or feel the layoffs. People see the government stepping in to insure loans beyond what FDIC requires. Most of this country doesn’t have savings over $250,000 and yet this administration saw fit to bail out people who stupidly kept accounts higher than that limit. Bailing out the rich while squeezing the poor and middle class. Biden is the worst ever. |
Anonymous
I would love to see his budget, because I'm curious to see how 2+2 can equal 5. He's made promises that are mathematically impossible, so yes, I'd like to see how he does it. |
Anonymous
Congress enacted the Infrastructure Bill, doofus. |
Anonymous
Wrong. McCarthy is proposing not to pay obligations previously approved by Congress. Congress exercised the power of the purse and now wants to renege on the obligations it chose to incur. |
Anonymous
| They can’t handle the fact record unemployment happened under Biden. They must tank our country. |
Anonymous
Wait, what? You mean record EMPLOYMENT, right? |
Anonymous
The debt limit is about money already spent, ie the unfunded Trump tax cuts. This has almost nothing to do with the Biden bills, which had a number of balances associated with it. It is funny you say he has been a bad president for the economy, when, other than inflation, you couldn't be more wrong. In fact, the last 3 GOP presidents have aggregated for less than 5% of the job growth in the US over the past 40 years, while the last three Democrat presidents going back to Clinton, are responsible for the balance. The last three GOP presidents left office with the economy in recession, massive job loss and a shrinking GDP. The last three Dem presidents, including Biden have inherited those recessions and put the US back on track by every metric. Under Biden, there is inflation. How much of that is due to private companies jacking up prices because they could? Look at the last three quarters of financial reports from the Fortune 500 for your answer. And...those other Western/Industrialized countries have MORE inflation than the US in the same period, so you can't blame Biden for it, and in fact, the Inflation Reduction Act has actually made the US and its economy MORE COMPETITIVE than our western peers. Facts are important. |
Anonymous
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HEATHER COX RICHARDSON:
WELL DUH, OF COURSE THE REPUBLICANS ARE OPPOSED TO THIS: Then Biden laid out the differences between his budget proposal and the newly released guidelines offered by the House Republicans. He noted that his budget has $3 trillion in cuts that the House Republicans oppose because they end benefits for corporations and the wealthy. His budget saves the country $200 billion by permitting Medicare to negotiate drug prices with pharmaceutical companies, and cuts $30 billion in tax subsidies for oil companies—which, he noted, made $200 billion in profits last year. His budget also funds the Internal Revenue Service to enable it to stop tax cheats; the Congressional Budget Office says that will raise $200 billion. Biden also wants to increase the number of inspectors general in the government to watch how money is spent, citing estimates that each dollar spent on inspectors general saves $10 in wasteful spending. The Republican plan would cut all of these measures, making suspect their claim that they want to address the deficit. |
Anonymous
The infrastructure bill was also debt neutral |
Anonymous
|
Biden at a recent press conference:
Reporter: Will you compromise with McCarthy on his proposed cuts? Biden: What cuts has he proposed? Reporter: There's a list. A long list. Biden: What's on that list? Reporter: .... [Narrator: There is no list & McCarthy has not proposed any cuts.] https://twitter.com/atrupar/status/1656324496444235777 |
Anonymous
That summary doesn't do that justice. That clip is awesome. He left that reporter just sitting there with no answer. Just shows how sharp Biden is. |