McCarthy’s Big Win Forces Biden & Dems to the Table

Fuck the president, seriously, fuck'em. The debt ceiling will be reached somewhere between July and Sept. Plenty of time to negotiate.

In case you don't understand what's happening, Congress is gong back to the regular budget process. That means that EACH dept. of the government will have it's own separate spending authorization, no more omnibus spending bullshit. The debt limit increase set the framework and conditions under which congress AND the president will deal with those issues.

Congress sets the debt limit, I've already answered that question.................twice.
The debt ceiling was reached in January

This isn't the budget being debated. This is paying the debt owed.

I asked who created the debt ceiling...the government hasn't always had a debt ceiling. Jfc, read what I asked.
 
You keep repeating that mantra but taxes collected increased, substantially, after each of those tax cuts AND the portion payed by the top quintile increased as well. The problem is, and always has been, spending.
The left lies about this all the time. Tax cuts have shown to increase government revenues:

Go Figure: Federal Revenues Hit All-Time Highs Under Trump Tax Cuts​



06:30 PM ET 10/16/2018

https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/
 
What matters is that Republican tax cuts for the rich are responsible for the rise in the national debt.

Republicans used to believe in balanced budgets. What happened to that.

This is the effect of tax cuts for the rich during the Reagan administration:

View attachment 2229620
Andrew Jackson was the last President to see a balanced budget and no federal debt. Also it was the Republicans Congress led by Newt Gingrich who forced Bill Clinton 1995 into economic policies that saw a budget surplus.
 
During Trump's four years he lost 5m jobs and added $9T to the deficit (25% of the entire national debt).
But, his tax cuts for billionaires increased revenue (for billionaires). No serious economist nowadays thinks that Reaganomics works.
 
You keep repeating that mantra but taxes collected increased, substantially, after each of those tax cuts AND the portion payed by the top quintile increased as well. The problem is, and always has been, spending.
He has ignored these facts every time he’s been confronted with them.
 
Andrew Jackson was the last President to see a balanced budget and no federal debt. Also it was the Republicans Congress led by Newt Gingrich who forced Bill Clinton 1995 into economic policies that saw a budget surplus.
Still love how the right refuses to give Clinton any credit. Gingrich didn't force Clinton to do anything. He was a willing participant in the legislation passed and signed.

But the budget that led to the surplus was opposed by Gingrich.

https://www.latimes.com/archives/la...t-led-to-balanced-budgets-20111220-story.html
 
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Jfc, Congress set the limit starting in 1917. It's an arbitrary limit.....within reason, of course

I guess it you don't know what you're fucking talking about, you throw shit at the fan related to it.

https://en.m.wikipedia.org/wiki/Liberty_bond#Second_Liberty_Bond_Act

That limit was hit in January, though the fed manipulated some shit to extend a until July
Read the Constitution, OK?

Who controls the currency?

Any debt limit could be argued to be arbitrary all depending on what one considers reasonable. The Bonds and various limits were a natural consequence of the re-establishment of a National Bank and more importantly the issuance of "Federal Reserve Notes."

Blah, blah, blah. We don't hit a hard line until the July-Sept. time frame. Why was Jan. 2023 picked as the threshold date? It wasn't arbitrary, it was pure politics.
 
Read the Constitution, OK?

Who controls the currency?

Any debt limit could be argued to be arbitrary all depending on what one considers reasonable. The Bonds and various limits were a natural consequence of the re-establishment of a National Bank and more importantly the issuance of "Federal Reserve Notes."
The debt ceiling being required by the same body that sets the bidget was created by Congress. It was a simple question.

Blah, blah, blah. We don't hit a hard line until the July-Sept. time frame. Why was Jan. 2023 picked as the threshold date? It wasn't arbitrary, it was pure politics.
We hit the debt limit in January, at which time the fed manipulated things so that we could make it longer. That wasn't political....it was necessary.

That means some debt isn't being paid already.

If Congress were serious, they'd propose their budget and pass a clean debt limit increase. Instead, we'll likely drop another credit rating,.likely making the Yuan more attractive as an international currency and then spend the summer working our way out of yet another hole....all the while likely pulling another Gingrich making thousands of government workers go without pay for months (and while you don't agree, these are Americans working to support their family)

The result won't be what you want. It already isn't what I want. .McCarthy will be out of a job by Christmas and this thread will age much more horribly than your celebration lap.
 
Andrew Jackson was the last President to see a balanced budget and no federal debt. Also it was the Republicans Congress led by Newt Gingrich who forced Bill Clinton 1995 into economic policies that saw a budget surplus.
Clinton's tax increase for the rich helped too.
 
in the end, he unified his fragmented and razor thin majority to produce a bill that ties the debt ceiling to reasonable, modest spending controls.
There is nothing reasonable OR modest about the cuts in McCarthy's budget. And I'm pretty sure he knows what eventually passes will have little or no resemblance to it. He's just pandering to the dead-enders he needs to keep happy in order to stay in the Speaker's chair.
Also it was the Republicans Congress led by Newt Gingrich who forced Bill Clinton 1995 into economic policies that saw a budget surplus.
Actually, it was Clinton's first budget that took the crucial first steps, and not a single Republican in either house of Congress voted for it. As for 1995, Gingrich's strategy was to assume Clinton would capitulate and give him everything he wanted (admittedly not an unreasonable assumption given Clinton's track record up to that time). It was only when Clinton called his bluff and triggered a government shutdown that Gingrich even came to the table for negotiations.
Read the Constitution, OK?
Since you keep saying that, it's worth pointing out that the Constitution doesn't say anything about a debt limit. That didn't come along until well over a century later.
 
And I'm pretty sure he knows what eventually passes will have little or no resemblance to it.
I agree. McCarthy knows he’ll have to negotiate with Senate Democrats and make compromises. And some Democrats, most notably Joe Manchin, know that negotiations and compromise is in the best interest of the country. I’m optimistic that more Democrats will see it the same way. Clawing back unspent Covid relief funds is a no-brainer that both parties should agree to now that the emergency is over.
 
I agree. McCarthy knows he’ll have to negotiate with Senate Democrats and make compromises. And some Democrats, most notably Joe Manchin, know that negotiations and compromise is in the best interest of the country. I’m optimistic that more Democrats will see it the same way. Clawing back unspent Covid relief funds is a no-brainer that both parties should agree to now that the emergency is over.
Interesting that you used the exact words McCarthy did about COVID funds
 
Point of Order: The budget doesn't actually authorize any spending. It's just an outline of spending goals. Money is spent in Appropriation Bills that may or may not be in line with the budget. That's why Clinton had a balanced budget, but spending still exceeded revenues and the debt increased.

WRT Veterans: Biden seems to have plenty of money to give to Ukraine's vets. All about priorities.
 
So, has “McCarthy’s big win” forced President Biden and the Democrats to the table yet???

👉 BabyBoobs 🤣

🇺🇸
 
So, has “McCarthy’s big win” forced President Biden and the Democrats to the table yet???

👉 BabyBoobs 🤣

🇺🇸
No and it won’t likely happen until summer as we get closer to whatever date the Treasury department says the debt ceiling needs to be lifted. Schumer will need about 10 Republicans to pass a filibuster-proof clean debt ceiling bill, maybe more because he can’t count on Manchin. Tester and other vulnerable Senate Democrats up for election are questionable as well.
 
BabyBoobs’ track record on all things political explains why BabyBoobs doesn’t understand how this is going to play out:

Senate majority leader Schumer and President Biden are letting “republicans” display their radical approach to governance to the American people.

Meanwhile Senate Majority leader Schumer will hold hearings to expose the far right-wing sociopathy of the cuts in the “republican’s” DOA (Default On America” bill in upcoming hearings.

A clean debt ceiling vote in the Senate will follow shortly thereafter.

That ^ will provide ANOTHER opportunity for the American people to see just how radical the “republicans” (and maybe Joe Manchin) are.

👍

👉 BabyBoobs 🤣

🇺🇸
 
BabyBoobs’ track record on all things political explains why BabyBoobs doesn’t understand how this is going to play out:

Senate majority leader Schumer and President Biden are letting “republicans” display their radical approach to governance to the American people.

Meanwhile Senate Majority leader Schumer will hold hearings to expose the far right-wing sociopathy of the cuts in the “republican’s” DOA (Default On America” bill in upcoming hearings.

A clean debt ceiling vote in the Senate will follow shortly thereafter.

That ^ will provide ANOTHER opportunity for the American people to see just how radical the “republicans” (and maybe Joe Manchin) are.

👍

👉 BabyBoobs 🤣

🇺🇸
NYT wrong too?
 

Biden seeks emergency debt ceiling meeting with congressional leaders​

Some Senate Democrats did not rule out the possibility of voting for a debt ceiling compromise that includes deficit reduction measures like what House Republicans have proposed.
  • “Depends on what it is,” said Sen. Jeanne Shaheen (D-N.H.).
  • Sen. Chris Coons (D-Del.) a close ally of Biden, said the scenario is “three hypotheticals stacked in a row,” but added: “Let’s see what the president can come up with.”
“Centrist Sen. Susan Collins (R-Maine), the vice chair of the Appropriations Committee, called the meeting “long overdue,” adding, “The fact that they’re finally meeting is very positive.”
  • “That’s a lot farther along than we were a week ago,” Sen. Mike Rounds (R-S.D.) said of the meeting, “So, probably some good news for everybody today.”
https://www.axios.com/2023/05/01/biden-congress-debt-ceiling-meeting
 
“Centrist Sen. Susan Collins (R-Maine), the vice chair of the Appropriations Committee,
Vice chair? That tells you everything you need to know about this source.
The word is ranking member when you're in the minority.
 
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