Republicans and the debt ceiling

[Anonymous]

Anonymous wrote:The 2011 debt ceiling crisis was the low-water mark of Obama’s presidency:

Politically, the crisis caused support for the Republican Party to drop, whose support for the debt-ceiling deal was needed as it controlled the House. The party saw its approval ratings drop from 41 percent in July to 33 percent in August.[128] Nevertheless, President Obama saw his approval ratings drop to a record low of 40 percent in regards to his handling of the crisis.[129]

https://en.m.wikipedia.org/wiki/2011_United_States_debt-ceiling_crisis

Obama negotiated in 2011 and as a result Republicans are back for more hostage-taking and will have *massive* demands. As I noted in another thread, Biden’s best strategy, which hopefully he learned at Obama’s side in 2011, is to ask for a clean debt limit increase over and over again, then when the pressure and heat become absolutely unbearable Ned Beatty will have a private meeting with Kevin McCarthy:

They don't have the leverage or numbers to get any of their demands. If they stick to their guns there will be a government shutdown and that's never gone well for the Republicans in the past.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Has McCarthy yet publicly addressed what he plans to do about this as speaker???

They are delusional. It doesn’t work like that. The debt ceiling is about redeeming Treasury securities. That’s it. Treasury securities don’t authorize or obligate where the money goes. That is already provided for in law and appropriations. It took them 15 tries to elect their leader as Speaker. They probably won’t even be able to pass their dumb shit in the House, much less hold the line against the Senate and President.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Has McCarthy yet publicly addressed what he plans to do about this as speaker???

They are delusional. It doesn’t work like that. The debt ceiling is about redeeming Treasury securities. That’s it. Treasury securities don’t authorize or obligate where the money goes. That is already provided for in law and appropriations. It took them 15 tries to elect their leader as Speaker. They probably won’t even be able to pass their dumb shit in the House, much less hold the line against the Senate and President.

I don’t think they will ultimately be successful. But it’s not clear how much damage their truculence and incompetence can do. Anyone with more House expertise care to offer an assessment?

[Anonymous]

“The widening deficit, which was $587 billion in 2016, is due in part to increased government spending and the $1.5 trillion tax cut package signed by Mr. Trump in 2017.”

https://www.cbsnews.com/news/whats-in-the-budget-deal-negotiated-by-congress-and-the-white-house/

[Anonymous]

Oh yay. Another government shutdown coming down the pike.

Haven't Republicans yet learned that those have never worked in their favor? I guess they really want to throw their 2024 chances away.

[Anonymous]

Anonymous wrote:Oh yay. Another government shutdown coming down the pike.

Haven't Republicans yet learned that those have never worked in their favor? I guess they really want to throw their 2024 chances away.

Default is way worse than another shutdown, and it will come sooner.

[Anonymous]

Anonymous wrote:“The widening deficit, which was $587 billion in 2016, is due in part to increased government spending and the $1.5 trillion tax cut package signed by Mr. Trump in 2017.”

https://www.cbsnews.com/news/whats-in-the-budget-deal-negotiated-by-congress-and-the-white-house/

Funny to read that quote now. Trump's tax reform proved to improve the economy in 2018 and 2019 in ways that were both predictable and apparently mysterious to CBS "journalists"

[Anonymous]

Anonymous wrote:

Anonymous wrote:“The widening deficit, which was $587 billion in 2016, is due in part to increased government spending and the $1.5 trillion tax cut package signed by Mr. Trump in 2017.”

https://www.cbsnews.com/news/whats-in-the-budget-deal-negotiated-by-congress-and-the-white-house/

Funny to read that quote now. Trump's tax reform proved to improve the economy in 2018 and 2019 in ways that were both predictable and apparently mysterious to CBS "journalists"

Trump’s tax cuts had no net positive effect on economic growth. What minimal benefits they might have added were offset by the money taken from the economy to service the increased debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“The widening deficit, which was $587 billion in 2016, is due in part to increased government spending and the $1.5 trillion tax cut package signed by Mr. Trump in 2017.”

https://www.cbsnews.com/news/whats-in-the-budget-deal-negotiated-by-congress-and-the-white-house/

Funny to read that quote now. Trump's tax reform proved to improve the economy in 2018 and 2019 in ways that were both predictable and apparently mysterious to CBS "journalists"

Trump’s tax cuts had no net positive effect on economic growth. What minimal benefits they might have added were offset by the money taken from the economy to service the increased debt.

Not only were his tax cuts of absolutely no benefit to the economy, but his attacks on the IRS meant that we lost more money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“The widening deficit, which was $587 billion in 2016, is due in part to increased government spending and the $1.5 trillion tax cut package signed by Mr. Trump in 2017.”

https://www.cbsnews.com/news/whats-in-the-budget-deal-negotiated-by-congress-and-the-white-house/

Funny to read that quote now. Trump's tax reform proved to improve the economy in 2018 and 2019 in ways that were both predictable and apparently mysterious to CBS "journalists"

Trump’s tax cuts had no net positive effect on economic growth. What minimal benefits they might have added were offset by the money taken from the economy to service the increased debt.

Not only were his tax cuts of absolutely no benefit to the economy, but his attacks on the IRS meant that we lost more money.

You folks are truly crazy. The Trump tax reform, controversial as it was, proved to be a massive success in the economic data of 2018, 2019 and 2020 up to Covid. Look it up,

[Anonymous]

Anonymous wrote:

Anonymous wrote:“The widening deficit, which was $587 billion in 2016, is due in part to increased government spending and the $1.5 trillion tax cut package signed by Mr. Trump in 2017.”

https://www.cbsnews.com/news/whats-in-the-budget-deal-negotiated-by-congress-and-the-white-house/

Funny to read that quote now. Trump's tax reform proved to improve the economy in 2018 and 2019 in ways that were both predictable and apparently mysterious to CBS "journalists"

It exploded the debt for no reason, simply transferring wealth upwards. The economy itself was no better than during the end of the Obama administration, by any metric. So in your mind, Trump's economy was better than Obama's even though it wasn't actually. Gee what changed other than the black guy being out of office?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“The widening deficit, which was $587 billion in 2016, is due in part to increased government spending and the $1.5 trillion tax cut package signed by Mr. Trump in 2017.”

https://www.cbsnews.com/news/whats-in-the-budget-deal-negotiated-by-congress-and-the-white-house/

Funny to read that quote now. Trump's tax reform proved to improve the economy in 2018 and 2019 in ways that were both predictable and apparently mysterious to CBS "journalists"

Trump’s tax cuts had no net positive effect on economic growth. What minimal benefits they might have added were offset by the money taken from the economy to service the increased debt.

Not only were his tax cuts of absolutely no benefit to the economy, but his attacks on the IRS meant that we lost more money.

You folks are truly crazy. The Trump tax reform, controversial as it was, proved to be a massive success in the economic data of 2018, 2019 and 2020 up to Covid. Look it up,

Please show your work. The GDP and employment numbers were the same as during the end of the Obama years.

[Anonymous]

GDP...yes it bounced, but within a range, until it tanked under Trump:

https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locations=US

Unemplyment: Same thing

https://www.macrotrends.net/countries/USA/united-states/unemployment-rate

The GDP was generally rising once Obama got us out of the collapse left by Bush and the unemployment was generally falling.

So to say that the Trump Administration improved things is a total fallacy.

[Anonymous]

You folks truly live in fantasy/ conspiracy land...

Pay gains during Trump’s first year in office best since the Great Recession
https://www.cnbc.com/2018/01/31/pay-gains-under-trumps-best-since-the-great-recession.html


And things only got better since on all respects (until Covid). This is not controversial at all, it's a fact.

[Anonymous]

Democrats can’t work with the republicans. Just let them do what they will do but make it as painful as possible to your average American. When the press comes and sticks a microphone in your face have some discipline and say this is the republicans responsibility.