Debt ceiling brinksmanship is a GOP specialty when Dems are in power; oddly, it never comes up when a Republican is president.
No both sides here, threatening to put the USA in default is a Republican specialty. Congress shouldn't interfere with the US's ability to pay its obligations, it would be altogether better if Congress passed automatic stabilizers to prevent political jousting.
https://www.cnn.com/2023/05/01/polit...ult/index.htmlThe US could default on its obligations as soon as June 1 if Congress doesn’t address the debt limit before then, Treasury Secretary Janet Yellen said Monday.
“After reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time,” Yellen wrote in a letter to House Speaker Kevin McCarthy.
The accelerated timetable increases pressure on President Joe Biden and House Republican lawmakers to ramp up their debt ceiling discussions. After months of talks being at a standstill, the president called all four congressional leaders on Monday afternoon and invited them to a May 9 meeting.
Yellen warned that the actual date that Treasury exhausts its ability to pay the government’s bills on time and in full could be “a number of weeks later than these estimates.” She noted that it’s impossible to pinpoint an exact date since the amount of revenue the federal government collects and the amount it spends is variable.
I'd be fine with the Democrats figuring out a way to cut spending and then refuse to increase it for the Republicans if the roles are reversed. There isn't anything wrong with being fiscally responsible. Why even have a debt ceiling though if it just keeps getting increased? Keep kicking the can down the road I suppose and just find more ways to squeeze the average American. That must be why the government needs to track those $600 transactions that everyone is getting rich off of.
Must not be a big priority if Joe couldn't fit debt negotiations in until the 9th.
What's to negotiate?
political reality.
Biden gambled McCarthy couldn't get a consensus from his hardliners to pass something. He did.
Balls in Biden's court.
How does one negotiate reality?
One doesn't negotiate reality, one accepts reality. There will have to be some negotiation to get the debt ceiling passed. They might as well get started.
Reality is McCarthy's donors will lose huge sums of money and have his balls if he leads the nation to a default.
LOL hearing about fiscal responsibility from a GOP voter
holding the US credit rating hostage is highly irresponsible and unethical; it should be raised as a matter of course. using it as political leverage is ed up.
MccCarthy will have enough problems getting whatever is the final negotiated result past his far right hard liners. Bidden needs to give him something.
You sure didn't see CC and the Republican hive mind standing up for fiscal probity when Trump was running up the deficit. Nor George Bush.
Only happens when a Dem is in the White House.
It shouldn't exist.
Biden doesn't need to give him . If the GOP leads us into defaulting on our debt and sends us into a depression that's the end of the ruling class funding them.
Yep. The US should pay its bills as a matter of course. Starving the Treasury to the point that it can't is a failure of basic governance.
on both sides.
They have had months to discuss debt reduction.
Both sides knew this day was coming.
Republicans announced they would do this right after the midterms. It's political vandalism.
your bothsidesism. Only your side is holding the nation hostage here.
Biden asked the Republicans for a proposal.
He has one now.
Balls in his court.
You can ing hate me and politics but that is just how this works in DC.
Your side wants to willingly ruin the economy.
Not the first time it's been used and won't be the last.
Your boy Joe voted against raising the debt ceiling in 2006.
On March 16, 2006, Senate Republicans voted to raise the debt ceiling, with Senate Democrats largely voting against the statutory limit of the country’s debt.
Then-Sen. Biden voted in lock step with Senate Democrats against this bill, which would raise the debt ceiling from $8.184 trillion to $8.965 trillion.
During his Senate floor speech explaining his vote against the debt ceiling increase, Biden lashed into then-President Bush, claiming Bush did not do enough to balance the budget or pay down the debt.
boomertalkingpoints.com
Yeah, he wanted to ruin the economy because he had the votes to do it!
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too much coffee this morning?
Look up your talking points and tell me when the Democrats actually threatened to default.too much coffee this morning?
I'll wait.
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