McCarthy to push GOP economic hostage crisis, freely admitting that Republicans are prepared to provoke global financial crisis on purpose if GOP wins

[basquebromance]

McCarthy freely admitted that the GOP is prepared to provoke a global financial crisis

After election, McCarthy to push GOP economic hostage crisis

The House Republican leader is freely admitting that Republicans are prepared to provoke a global financial crisis, on purpose, if rewarded by voters.

www.msnbc.com

 

[pknopp]

It isn't going to happen. As the article notes, this always go overs very poorly. Personally I would love to see a serious effort to not raise the limit but it's never going to happen but that isn't going to stop a politician from trying to pretend.

 

[excalibur]

Rachel Maddow. You cannot sink any lower than that.

 

[B. Kidd]

The OP needs to lay off the stimulants.

 

[basquebromance]

Rachel Maddow. You cannot sink any lower than that.

McCarthy's own words. you cannot sink any lower than that

 

[basquebromance]

The OP needs to lay off the stimulants.

you 1st

 

[B. Kidd]

you 1st

Flick, redux.....!

 

[excalibur]

The debt limit has NOTHING to do with the debt service.

The math is simple.

The Feds take in an average of around $400 billion a month, taking in nearly $5 trillion in FY 2022.

Fiscal Data Explains Federal Revenue

Check out @FiscalService Fiscal Data’s new federal revenue page! #FederalRevenue

fiscaldata.treasury.gov

The average monthly debt service is ~$34 billion.

Just How Big Are Federal Interest Payments? | Committee for a Responsible Federal Budget

According to the Congressional Budget Office's (CBO) latest baseline, the federal government will spend

www.crfb.org

So, plenty of income to service the debt. The debt ceiling does not need to be increased to service the national debt.

 

[Esdraelon]

The point is to put President Joe Biden and other Democratic leaders in a position where they either have to accept cuts to programs like Social Security and Medicare, or they’ll watch as Republicans force the United States into default on our obligations.

Same tune, different election. Those are NEVER CUT.

 

[Darkwind]

McCarthy freely admitted that the GOP is prepared to provoke a global financial crisis

After election, McCarthy to push GOP economic hostage crisis

The House Republican leader is freely admitting that Republicans are prepared to provoke a global financial crisis, on purpose, if rewarded by voters.

www.msnbc.com

Not raising the debt limit will crash the global financial system.

Are you high?

It will do no such thing.

What needs to happen is the debt limit needs to be PERMENATELY frozen and then lowered when the debt if paid off.

 

[excalibur]

The point is to put President Joe Biden and other Democratic leaders in a position where they either have to accept cuts to programs like Social Security and Medicare, or they’ll watch as Republicans force the United States into default on our obligations.

Same tune, different election. Those are NEVER CUT.

Default isn't possible, not with the average revenue of $400 billion a month and the debt service averaging $34 billion per month.

 

[wamose]

Sooner or later, we'll have to face the music. But the establishment, Democrats and neocons, will break out their propaganda machine, the MSM, and sell this reckless spending to our half-witted populace. It'll be hard to limit spending because our robber baron establishment is addicted to the money, irresponsible bastards that they are.