As things stand now, House Republicans will cause the United States to default on its debts

You know, spending increased under the GOP when Trump was president and they controlled the House and Senate.

 

I think there is negotiations in the Senate for some sort of compromise based on What Sen McConnell said. And then the house would vote for the bill without Speaker McCarthy holding back and allowing a vote. It is possible we will pass the deadline for a day or two, to give cover to the Freedom Caucus, but not much else after that.

 

Yes, it did, but until, Covid, Trump and the Republicans never dreamed of passing trillion and multi trillion dollar spending bills. In addition, the first trillion dollar spending bill was to combat Covid which Democrats and Republicans viewed as a major, once in a century, crisis.

Biden’s “Build Back Better” plan called for seven billion dollars in spending, which is a staggering amount of money. That’s 7,000 billion dollars which was close the a quarter of the national debt at the time. Perhaps you progressives love that idea, but that proposed power grab scares the crap out of me.

Justifying Biden’s bad policies by comparing them to Trump has become a major excuse for Democrats. It’s quite similar to blaming the Trump administration for everything that goes wrong now. After a few months, those excuses turn into BS. You have the White House; your man now has the responsibility. Live with it. If you want four more years of executive power, you need to earn it with your ideas, not excuses about the past. After two years in office, you own most of the past.

 

Sounds like he’s willing to negotiate. He’ll clearly pass an increase so long as Biden wants to negotiate as well. I’m okay with his position

 

The Congress of the United States of America, through legislation approved by the President of the United States, has raised the debt ceiling over 80 times. The Congress and President have never failed to raise the debt ceiling.

It makes for a story to fill space in print and time on the air. And that's all. Chicken Littles to the contrary, the sky has not fallen, nor will it.

Based on past performance, we can rest easy as the dance is repeated once again.

Regards, stay safe 'n well.

 

There has never been a President or administration as horrific as Biden's. If the people telling him what to say and do are clueless enough to think that defaulting will help them win re-election, they will continue playing "hardball" Odds remain better than 50/50 that the disaster happens

 

Hi, Independent4ever.

Thank you for taking time to read my post and post your opinion. I would be interested to know the rational basis for your odds determination.

Regards, stay safe 'n well.

 

McCarthy can't give in or he will be ousted as House Speaker

Biden can't give in or it will undermine what he believes are his legislative "accomplishments". He has no understanding that the fact is that his "accomplishments" have made the deficit worse and thus accelerated the need to raise the debt ceiling

All both parties really care about is 2024

When I see 2 parties, as usual, not caring about what is best for the country, odds of them doing the wrong thing are always going to be higher than the right thing

 

Sandy Shanks said: ↑
The President wants Congress to allow him to pay the country's current bills such as Social Security, Medicare, Medicaid, veteran's benefits, and as well as other obligations to the American people.

Republicans are not allowing this. They want to address future spending with a Republican House bill that approves the debt limit increase but guts many of the President's programs and has no chance of becoming law.

Congress has increased or suspended the debt limit unconditionally 78 times since 1960 under both Republican and Democratic administrations, three times under Trump. Without a war or a recession, $7.8 trillion was added to the National Debt during the Republican administration of Donald Trump.
***************************************************************************************************************************************************

On Thursday, McCarthy expressed optimism about ending the debt limit crisis.

Later on Thursday,"The House Freedom Caucus said it’s calling on House Speaker Kevin McCarthy to suspend his negotiation on raising the debt limit with the White House and instead focus on getting the House-passed “Limit, Save, Grow Act” through the Senate.

“There should be no further discussion until the Senate passes the legislation,” a statement from the Republican group said."

The following day, McCarthy changed his mind.

CNBC reports, "High-stakes talks over raising the debt limit paused at midday when Republican negotiators walked out of the room and blamed the White House for holding up discussions.

"As the White House presses for a debt limit hike that would push the next deadline past the 2024 presidential election, Republicans are insisting on a spending cap for next year that goes beyond a freeze on the current topline number, and actually rolls government spending back to 2022 levels."

Put another way, House Republicans are making demands that will cause our nation to default on its obligations, including obligations to the American people. The backlash against Republicans in the media was so harsh that McCarthy changed his mind again.

CNBC continued, "High-stakes talks over raising the debit limit will continue Friday evening, said House Speaker Kevin McCarthy."

The forum's Republicans know their party is doing enormous harm to the U.S. They seem proud of that fact for some reason.

It is why they do not respond.

 

As the fight continues over the debt ceiling, Republicans need to ask themselves a question.

On any particular issue, the Senate normally takes the lead. Senators have six-year terms -- as compared to members of the House with two years -- and Senators have far more power than congressmen.

So, why are Republican Senators sitting this one out?

The Senate Minority Leader Mitch McConnell admitted in a live interview that he is taking a backseat to McCarthy and House Republicans, including the far-right Freedom Caucus.

On Thursday,"The House Freedom Caucus said it’s calling on House Speaker Kevin McCarthy to suspend his negotiation on raising the debt limit with the White House and instead focus on getting the House-passed “Limit, Save, Grow Act” through the Senate.

“There should be no further discussion until the Senate passes the legislation,” a statement from the Republican group said.

Republican Senators remain curiously quiet about the debt limit crisis, except for McConnell who said the U.S. would not default on its obligations.

McConnell is an extremely shrewd and highly experienced politician. What he is doing is very uncharacteristic of him. Ordinarily, he doesn't take a backseat to anyone, including the President.

But he is here. Why?

Could it be that holding the American and global economy hostage over budgetary matters is an extremely unpopular position and is doomed to fail?

All the Democratic President wants to do is be able to pay our bills. Spending is not involved. Paying our bills is money already spent, much like a credit card statement.

Who will American voters blame for the grief we are experiencing now?

Who will American voters blame if the U.S. defaults?

You get my point. McConnell wants nothing to do with what House Republicans are doing.

 

Republican Senators are not talking, and neither are the forum's Republicans. That is a sure sign they know that what House Republicans are doing will cause serious damage to their party.

But Democratic Senators are speaking up.

ABC reports, "Sen. Chris Van Hollen on Sunday argued that House Republicans, led by Speaker Kevin McCarthy, had created an "insane situation" as the White House negotiates with lawmakers on raising the nation's debt ceiling to avoid a potentially disastrous default.

"What we have right now is Speaker McCarthy and MAGA House Republicans saying that they're going to push the default detonator and blow up our economy if they don't get their way," Van Hollen, D-Md., told ABC "This Week.".

All this is not unlike a thief holding a gun to a man's head and saying, "Okay, let's negotiate. You give me your wallet, and I will allow you to live."

 

ABC reports, "If the United States defaults on its financial obligations, millions of Americans might not be able to pay their bills as well.

"With Social Security and other government benefits at risk amid a political stalemate over the government's debt ceiling, experts and older Americans told ABC News that the consequences of the impasse in Washington could be dire, including for older Americans who need the money to pay for basic needs such as food, housing or health care costs.

A quarter of Americans over age 65 rely on Social Security to provide at least 90% of their family income, according to the Social Security Administration.

"I paid into Social Security, and I paid into Medicare," 80-year-old Lynda Fisher said. "And now they're trying to take it away. It's not their money, it's my money that I paid into."

 

Are Republicans really this stupid? Well, they said it, so, yes.

CNBC reports, "Debt ceiling negotiations between the White House and congressional Republicans took on a new, harder tone this week after House Speaker Kevin McCarthy signaled that he was not willing to compromise with Democrats over a list of GOP demands.

"McCarthy’s deputies say they view a vote to raise the debt ceiling — and to avoid a potentially catastrophic U.S. debt default — as a concession!

"Rep. Patrick McHenry, of North Carolina, a chief GOP negotiator, was asked Tuesday night what concessions Democrats were getting as part of a potential compromise'

“The debt ceiling,” he replied.

“That’s what they’re getting,” added Rep. Garret Graves, of Louisiana, another GOP negotiator.

That position is beyond stupid, remarkably insensitive to the needs of the American people, and contrary to the goals of their own party.

Who do these Republicans think they are? Have they forgotten? They work for us. Well, for them, not much longer.

It is not surprising the forum's Republicans are staying out of this. But, then, that is what they do.

 

First of all… Republicans are willing to pay the debt. They just won’t do it with Biden’s demands list attached. If Biden refuses their offer to pay the debt that’s on him not the republicans.

 

WASHINGTON — Debt ceiling negotiations between the White House and congressional Republicans took on a new, harder tone this week after House Speaker Kevin McCarthy signaled that he was not willing to compromise with Democrats over a list of GOP demands.

Instead, McCarthy’s deputies say they view a vote to raise the debt ceiling — and to avoid a potentially catastrophic U.S. debt default — as a concession to Democrats.

Rep. Patrick McHenry, of North Carolina, a chief GOP negotiator, was asked Tuesday night what concessions Democrats were getting as part of a potential compromise with the White House to win both Republican and Democratic votes.

“The debt ceiling,” he replied.

“That’s what they’re getting,” added Rep. Garret Graves, of Louisiana, another GOP negotiator.
https://www.cnbc.com/2023/05/25/debt-ceiling-news-demands-republicans-are-making.html

That is absolutely CRAZY.

 

It is painfully obvious that Republican negotiators don't give a rat's ass about the people they are supposed to represent.

So, if they get out of the way, things may go better. We are running out of time.

Reuters reports, "U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Thursday appeared to be nearing a deal to cut spending and raise the government's $31.4 trillion debt ceiling, with little time to spare to head off the risk of default.

"The deal would specify the total amount the government could spend on discretionary programs like housing and education, according to a person familiar with the talks, but not break that down into individual categories. The two sides are just $70 billion apart on a total figure that would be well over $1 trillion, according to another source."

 

Man, you are clueless. You didn't even read the report you responded to, which makes you a typical Republican.

Thank you for proving my point.

 

Not surprising to see CNBC pin it on the guys who were elected to take control of the purse. Being they have the control, Biden is the one making demands

 

Then prove me wrong. Who writes the spending bills? If he doesn’t write them then who’s truly making the demands? He is demanding against the party that was elected to control the purse. You sir…. Are the one who is clueless

 

Wake up. All CNBC did was publish quotes from the Crazy. The guys who have established their negotiating position as "give us want we want and in return we won't detonate the bomb and crash the global economy."

 

We are running out of time. Are you prepared for a financial crisis in your household?

ABC reports, "Gridlock in Washington over raising the debt ceiling threatens to disrupt payments to millions of Americans who rely on government benefits each month.

"Seniors, veterans and Americans living with disabilities could be the first to suffer if the federal government is unable to pay its bills as soon as June 1. Payments totaling about $100 billion are scheduled to go out June 1 and June 2, with more scheduled throughout the month.

"In Washington, we're being treated like numbers, or just totally figures on a page. We're human beings and we're doing the best we can with what we've got," Susan Prahl Meachum, a 64-year-old living in rural Virginia, said.'

Meachum is disabled. There are millions of Americans like her. House Republicans only have their unrealistic demands on their minds (delivering serious harm to the Democratic administration), and they don't care about Mrs. Meachum and the others.

Forum Republicans, if you disagree, prove it. Naw, they aren't talking.

Mrs. Meachum and millions of America may get a small break, tiny, actually.

The Times reports, "Treasury Secretary Janet L. Yellen said on Friday that the United States will run out of money to pay its bills on time by June 5, moving the goal posts back slightly while maintaining the urgency for congressional leaders to reach a deal to raise or suspend the debt limit.

"The letter provided the most precise date yet for when the United States is expected to run out of cash. Ms. Yellen had previously said the United States could hit the so-called X-date — the moment when it does not have enough money to pay all of its bills on time — as soon as June 1.

"The federal government is required to make more than $130 billion in scheduled payments during the first two days of June — including money to veterans and Social Security and Medicare recipients. Those payments will leave the Treasury Department with “an extremely low level of resources.” Ms. Yellen said."

 

Congress has increased or suspended the debt limit unconditionally 78 times since 1960 under both Republican and Democratic administrations, three times under Trump. Without experiencing a war or a recession. Republicans thus allowed the Republican administration of Donald Trump to add $7.8 trillion to the National Debt.

Today Republicans are holding Americans hostage by demanding a ransom of budgetary matters, meaning future spending, be tied to their approval to raise the debt so that the treasury can pay past obligations such as Social Security, Medicare, and veteran's benefits.

The last is particularly demeaning. Veterans fought for our country. Today Republicans are holding them hostage. This is their idea of leadership.

Budgetary matters have absolutely nothing to do with raising the debt limit so America can remain solvent.

For the past several weeks, who has been doing all the talking? Answer, the Republicans. It is a sure sign they know they are wrong, and they are on the defensive.

Who is not talking? the forum's Republicans. They, too, know their party is wrong, and they prefer not talking about it.

 

Caution: It is not over yet. Raising the debt ceiling must be approved by the House and the Senate.

The Republicans backed down on most of their demands, and the House bill to raise the debt ceiling, but gutted the Biden administration was forgotten. This is not a surprise. They were wrong to hold the American economy and the American people hostage for demands they could not obtain through ordinary means.

The Guardian reports, "Joe Biden and Kevin McCarthy have reached an agreement to lift the US debt ceiling and avoid a disastrous and unprecedented default. Prior to the details being presented to lawmakers, ahead of an expected vote on Wednesday, here is what sources familiar with negotiations have revealed:
Cap on discretionary spending
The deal would suspend the $31.4tn debt ceiling until January 2025, allowing the government to pay its bills. In exchange, non-defense discretionary spending would be “roughly flat” at current year levels in 2024. It would increase by only 1% in 2025.
What about the 2024 presidential election?
The debt limit extension schedule means Congress would not need to address the deeply polarizing issue again until after the November 2024 election. Note: In other words, a two-year deal.
Increased defense spending
The deal is expected to boost defense spending to around $885bn, in line with Biden’s 2024 budget spending proposal, an 11% increase from the $800bn allocated in the current budget.
Special IRS funding for federal tax authorities
Biden and Democrats secured $80bn in new funding for a decade to help the Internal Revenue Service enforce the tax code for wealthy Americans in last year’s Inflation Reduction Act.
Covid clawback, cuts for the CDC
Biden and McCarthy are expected to agree to claw back unused Covid-19 relief funds as part of the budget deal.
Work requirements
Biden and McCarthy battled fiercely over imposing stricter work requirements on low-income Americans who benefit from federal food and healthcare programs. No changes were made to Medicaid health insurance in the deal, but the agreement would impose new work requirements on low-income people who receive food assistance, up to age 54, instead of 50.

 

Build Back Better Plan never came into existence. The Inflation Reduction Bill is a much smaller version of the Build Back Better plan and that even passed with some bipartisan support in both the House and Senate.

 

Didn't you say that when Obama was President or when Clinton was President? It is like the boy who cried wolf one too many times. That political BS line is getting boring.