Republicans Don't Play Chicken With The Debt Ceiling!

[JimofPennsylvan]

Treasury Secretary Janet Yellen stated this week that the nation will hit its $31 trillion debt limit sometime at the end of this month necessitating emergency money management measures which will give the country until early June where upon the country could begin defaulting on its bills and therefore Secretary Yellen is requesting the Congress raise the nation's debt limit before this June 1 date. Now most right wing Republican members of Congress which are the majority of the Republican caucus in both chambers in their pre-midterm elections and post midterm elections rhetoric have essentially said they want to go the mattresses on this issue meaning they want a significant cut in government spending or they aren't raising the debt limit. Knowledgeable rationale people on economics know that not raising the debt ceiling will cause self-inflicted catastrophic consequences for the nation's and the world's economy (it will be worse than the 2008/2009 Great Recession) because the Treasury will not be able to indefinitely juggle taking incoming tax revenue and paying the principal and interests on Treasury bonds and Treasury notes when they become due and when the timing of this transfer fails and the Treasury defaults the credit rating of U.S Treasury bonds will lose their triple A credit rating, their ultra-safe bond rating, which will trigger a collapse in the Treasury Bond market, will trigger a massive selling of Treasury bonds, will trigger insurance contracts guaranteeing payment on Treasuries (swap contracts) to be obligated to pay out, to be effectuated, etc.. All these developments will create epic losses for financial institutions, it will collapse the U.S. and World wide equity markets and bond markets and cause massive layoffs and bankruptcies in America and internationally; the world has never seen the resulting negative effects and the world's Central banks will not be able to stop the negative wave because U.S. Treasury bonds will have permanently lost their trustworthiness as places to store money (Treasury bonds are the coin of the realm for the territory that is the underpinnings of America's and the World's economy (it is considered as safe an asset as safe can be for people that significantly move and store money in economies), it will have permanently left a significant instability in the U.S. Treasury bond market which will permanently destroy a vital foundational column of the U.S. and World-wide economies!

Good sense for Republicans on this issue is not to take this debt ceiling issue and turn it into a gun and put it to the temple of the Democrats and say cut federal spending to my liking or I will pull the trigger because Democrats will not succumb to this pressure because they know this means this will subject them to future extortion when raising the debt ceiling issue comes up in the future which it periodically does. The Good Sense approach by the Republicans would take this issue as an opportunity to negotiate a fair deal at reducing the growth of the national debt to put off the day "which Congresswomen Nancy Pelosi most aptly described as the day of Armageddon when sovereign debt investors don't want to buy Treasury bonds any more because U.S. finances are such a mess the U.S. Government is just printing money so the U.S. dollar doesn't deserve to hold stable value against other good currencies". A "fair deal" means a deal where there is revenue raising through the tax code commensurate with the federal spending cuts. An added carrot could be that Social Security's finances indicate they will run out of money in a few years, a deal to structurally reduce the growth of the national debt could extend the solvency of the Social Security program if the deal involved a cut in spending in Social Security - addressing the looming deficit in Social Security is something Congress will have to within the next ten years address so likely members of both parties should welcome addressing it and at the same time curtailing growth of the national debt.

The Republican radio show host Hugh Hewitt has been beating the drum on a good idea relating to this issue. He says why doesn't the Republican Senate and House caucuses agree on a simple message on this issue, a simple ask on this issue and that will enable the national Republican party to keep public attention on this proposal thereby creating public support for the proposal. If Republican House and Senate leadership could back a simple fair proposal there is enough Republican and Democrats in Congress that want to get stuff done they didn't come to Washington to play political games they came to improve things in the country and they could move this legislation ball across the finish line. Hugh on this overall issue is off the mark because his ask proposal on this issue is he wants more security on the southern border although his ask is understandable because when one looks at the southern border and sees huge groups of people illegally coming to America it is clear the U.S. government is failing in their duty to control immigration to our country and insure U.S. laws and good public policy is followed but Democrats can rightfully say if you Republicans want to fix this problem negotiate on the issue don't just pursue added security don't make it a one way street how about basic good things like a path to citizenship for Dreamers!

 

[Oddball]

tl;dr

Submit and sign a balanced budget.

Problem solved.

 

[Moonglow]

The GOP had little problem increasing the debt ceiling during Trump...three times

 

[ThisIsMe]

Treasury Secretary Janet Yellen stated this week that the nation will hit its $31 trillion debt limit sometime at the end of this month necessitating emergency money management measures which will give the country until early June where upon the country could begin defaulting on its bills and therefore Secretary Yellen is requesting the Congress raise the nation's debt limit before this June 1 date. Now most right wing Republican members of Congress which are the majority of the Republican caucus in both chambers in their pre-midterm elections and post midterm elections rhetoric have essentially said they want to go the mattresses on this issue meaning they want a significant cut in government spending or they aren't raising the debt limit. Knowledgeable rationale people on economics know that not raising the debt ceiling will cause self-inflicted catastrophic consequences for the nation's and the world's economy (it will be worse than the 2008/2009 Great Recession) because the Treasury will not be able to indefinitely juggle taking incoming tax revenue and paying the principal and interests on Treasury bonds and Treasury notes when they become due and when the timing of this transfer fails and the Treasury defaults the credit rating of U.S Treasury bonds will lose their triple A credit rating, their ultra-safe bond rating, which will trigger a collapse in the Treasury Bond market, will trigger a massive selling of Treasury bonds, will trigger insurance contracts guaranteeing payment on Treasuries (swap contracts) to be obligated to pay out, to be effectuated, etc.. All these developments will create epic losses for financial institutions, it will collapse the U.S. and World wide equity markets and bond markets and cause massive layoffs and bankruptcies in America and internationally; the world has never seen the resulting negative effects and the world's Central banks will not be able to stop the negative wave because U.S. Treasury bonds will have permanently lost their trustworthiness as places to store money (Treasury bonds are the coin of the realm for the territory that is the underpinnings of America's and the World's economy (it is considered as safe an asset as safe can be for people that significantly move and store money in economies), it will have permanently left a significant instability in the U.S. Treasury bond market which will permanently destroy a vital foundational column of the U.S. and World-wide economies!

Good sense for Republicans on this issue is not to take this debt ceiling issue and turn it into a gun and put it to the temple of the Democrats and say cut federal spending to my liking or I will pull the trigger because Democrats will not succumb to this pressure because they know this means this will subject them to future extortion when raising the debt ceiling issue comes up in the future which it periodically does. The Good Sense approach by the Republicans would take this issue as an opportunity to negotiate a fair deal at reducing the growth of the national debt to put off the day "which Congresswomen Nancy Pelosi most aptly described as the day of Armageddon when sovereign debt investors don't want to buy Treasury bonds any more because U.S. finances are such a mess the U.S. Government is just printing money so the U.S. dollar doesn't deserve to hold stable value against other good currencies". A "fair deal" means a deal where there is revenue raising through the tax code commensurate with the federal spending cuts. An added carrot could be that Social Security's finances indicate they will run out of money in a few years, a deal to structurally reduce the growth of the national debt could extend the solvency of the Social Security program if the deal involved a cut in spending in Social Security - addressing the looming deficit in Social Security is something Congress will have to within the next ten years address so likely members of both parties should welcome addressing it and at the same time curtailing growth of the national debt.

The Republican radio show host Hugh Hewitt has been beating the drum on a good idea relating to this issue. He says why doesn't the Republican Senate and House caucuses agree on a simple message on this issue, a simple ask on this issue and that will enable the national Republican party to keep public attention on this proposal thereby creating public support for the proposal. If Republican House and Senate leadership could back a simple fair proposal there is enough Republican and Democrats in Congress that want to get stuff done they didn't come to Washington to play political games they came to improve things in the country and they could move this legislation ball across the finish line. Hugh on this overall issue is off the mark because his ask proposal on this issue is he wants more security on the southern border although his ask is understandable because when one looks at the southern border and sees huge groups of people illegally coming to America it is clear the U.S. government is failing in their duty to control immigration to our country and insure U.S. laws and good public policy is followed but Democrats can rightfully say if you Republicans want to fix this problem negotiate on the issue don't just pursue added security don't make it a one way street how about basic good things like a path to citizenship for Dreamers!

I expect it will happen just like every other time this has happened, sometime shortly before the deadline, a deal.will be reached, to kick the can down the road for another few months.

Here's the thing, are the repubs wrong for demanding meaningful cuts? How long will we be able to kick the van? Can we do that forever? At some point, someone is going to have to do something..

I can see it now...20 years from now, well be 110 trillion in debt...and were still kicking the can down the road....

 

[B. Kidd]

We've spent more money on Ukraine than on our own infrastructure in the last year!!

CUT THE SPENDING!!!

 

[Independentthinker]

Treasury Secretary Janet Yellen stated this week that the nation will hit its $31 trillion debt limit sometime at the end of this month necessitating emergency money management measures which will give the country until early June where upon the country could begin defaulting on its bills and therefore Secretary Yellen is requesting the Congress raise the nation's debt limit before this June 1 date. Now most right wing Republican members of Congress which are the majority of the Republican caucus in both chambers in their pre-midterm elections and post midterm elections rhetoric have essentially said they want to go the mattresses on this issue meaning they want a significant cut in government spending or they aren't raising the debt limit. Knowledgeable rationale people on economics know that not raising the debt ceiling will cause self-inflicted catastrophic consequences for the nation's and the world's economy (it will be worse than the 2008/2009 Great Recession) because the Treasury will not be able to indefinitely juggle taking incoming tax revenue and paying the principal and interests on Treasury bonds and Treasury notes when they become due and when the timing of this transfer fails and the Treasury defaults the credit rating of U.S Treasury bonds will lose their triple A credit rating, their ultra-safe bond rating, which will trigger a collapse in the Treasury Bond market, will trigger a massive selling of Treasury bonds, will trigger insurance contracts guaranteeing payment on Treasuries (swap contracts) to be obligated to pay out, to be effectuated, etc.. All these developments will create epic losses for financial institutions, it will collapse the U.S. and World wide equity markets and bond markets and cause massive layoffs and bankruptcies in America and internationally; the world has never seen the resulting negative effects and the world's Central banks will not be able to stop the negative wave because U.S. Treasury bonds will have permanently lost their trustworthiness as places to store money (Treasury bonds are the coin of the realm for the territory that is the underpinnings of America's and the World's economy (it is considered as safe an asset as safe can be for people that significantly move and store money in economies), it will have permanently left a significant instability in the U.S. Treasury bond market which will permanently destroy a vital foundational column of the U.S. and World-wide economies!

Good sense for Republicans on this issue is not to take this debt ceiling issue and turn it into a gun and put it to the temple of the Democrats and say cut federal spending to my liking or I will pull the trigger because Democrats will not succumb to this pressure because they know this means this will subject them to future extortion when raising the debt ceiling issue comes up in the future which it periodically does. The Good Sense approach by the Republicans would take this issue as an opportunity to negotiate a fair deal at reducing the growth of the national debt to put off the day "which Congresswomen Nancy Pelosi most aptly described as the day of Armageddon when sovereign debt investors don't want to buy Treasury bonds any more because U.S. finances are such a mess the U.S. Government is just printing money so the U.S. dollar doesn't deserve to hold stable value against other good currencies". A "fair deal" means a deal where there is revenue raising through the tax code commensurate with the federal spending cuts. An added carrot could be that Social Security's finances indicate they will run out of money in a few years, a deal to structurally reduce the growth of the national debt could extend the solvency of the Social Security program if the deal involved a cut in spending in Social Security - addressing the looming deficit in Social Security is something Congress will have to within the next ten years address so likely members of both parties should welcome addressing it and at the same time curtailing growth of the national debt.

The Republican radio show host Hugh Hewitt has been beating the drum on a good idea relating to this issue. He says why doesn't the Republican Senate and House caucuses agree on a simple message on this issue, a simple ask on this issue and that will enable the national Republican party to keep public attention on this proposal thereby creating public support for the proposal. If Republican House and Senate leadership could back a simple fair proposal there is enough Republican and Democrats in Congress that want to get stuff done they didn't come to Washington to play political games they came to improve things in the country and they could move this legislation ball across the finish line. Hugh on this overall issue is off the mark because his ask proposal on this issue is he wants more security on the southern border although his ask is understandable because when one looks at the southern border and sees huge groups of people illegally coming to America it is clear the U.S. government is failing in their duty to control immigration to our country and insure U.S. laws and good public policy is followed but Democrats can rightfully say if you Republicans want to fix this problem negotiate on the issue don't just pursue added security don't make it a one way street how about basic good things like a path to citizenship for Dreamers!

There is a simple solution. Make cuts to spending and Republicans wouldn't have to play chicken with the debt ceiling. Do you actually like high inflation?

 

[JWBooth]

They’ll fold, they always do. Not before the kabuki performance though.

 

[B. Kidd]

They’ll fold, they always do. Not before the kabuki performance though.

This is a sure bet!

 

[1srelluc]

I say don't extend it without corresponding austerity cuts....Let's see what happens....I mean how much more fucked can we be anyway?

For starters they could rake back all that unspent covid money the dems have been laundering for everything but covid.....Last I heard it was 1 trillion.....Then go after any Ukraine money that has not been transferred yet.

 

[B. Kidd]

I say don't extend it without corresponding austerity cuts....Let's see what happens....I mean how much more fucked can we be anyway?

For starters they could rake back all that unspent covid money the dems have been laundering for everything but covid.....Last I heard it was 1 trillion.....Then go after any Ukraine money that has not been transferred yet.

Good point.
Our spending priorities have been/and are all F'ed up!

 

[TroglocratsRdumb]

Treasury Secretary Janet Yellen stated this week that the nation will hit its $31 trillion debt limit sometime at the end of this month necessitating emergency money management measures which will give the country until early June where upon the country could begin defaulting on its bills and therefore Secretary Yellen is requesting the Congress raise the nation's debt limit before this June 1 date. Now most right wing Republican members of Congress which are the majority of the Republican caucus in both chambers in their pre-midterm elections and post midterm elections rhetoric have essentially said they want to go the mattresses on this issue meaning they want a significant cut in government spending or they aren't raising the debt limit. Knowledgeable rationale people on economics know that not raising the debt ceiling will cause self-inflicted catastrophic consequences for the nation's and the world's economy (it will be worse than the 2008/2009 Great Recession) because the Treasury will not be able to indefinitely juggle taking incoming tax revenue and paying the principal and interests on Treasury bonds and Treasury notes when they become due and when the timing of this transfer fails and the Treasury defaults the credit rating of U.S Treasury bonds will lose their triple A credit rating, their ultra-safe bond rating, which will trigger a collapse in the Treasury Bond market, will trigger a massive selling of Treasury bonds, will trigger insurance contracts guaranteeing payment on Treasuries (swap contracts) to be obligated to pay out, to be effectuated, etc.. All these developments will create epic losses for financial institutions, it will collapse the U.S. and World wide equity markets and bond markets and cause massive layoffs and bankruptcies in America and internationally; the world has never seen the resulting negative effects and the world's Central banks will not be able to stop the negative wave because U.S. Treasury bonds will have permanently lost their trustworthiness as places to store money (Treasury bonds are the coin of the realm for the territory that is the underpinnings of America's and the World's economy (it is considered as safe an asset as safe can be for people that significantly move and store money in economies), it will have permanently left a significant instability in the U.S. Treasury bond market which will permanently destroy a vital foundational column of the U.S. and World-wide economies!

Good sense for Republicans on this issue is not to take this debt ceiling issue and turn it into a gun and put it to the temple of the Democrats and say cut federal spending to my liking or I will pull the trigger because Democrats will not succumb to this pressure because they know this means this will subject them to future extortion when raising the debt ceiling issue comes up in the future which it periodically does. The Good Sense approach by the Republicans would take this issue as an opportunity to negotiate a fair deal at reducing the growth of the national debt to put off the day "which Congresswomen Nancy Pelosi most aptly described as the day of Armageddon when sovereign debt investors don't want to buy Treasury bonds any more because U.S. finances are such a mess the U.S. Government is just printing money so the U.S. dollar doesn't deserve to hold stable value against other good currencies". A "fair deal" means a deal where there is revenue raising through the tax code commensurate with the federal spending cuts. An added carrot could be that Social Security's finances indicate they will run out of money in a few years, a deal to structurally reduce the growth of the national debt could extend the solvency of the Social Security program if the deal involved a cut in spending in Social Security - addressing the looming deficit in Social Security is something Congress will have to within the next ten years address so likely members of both parties should welcome addressing it and at the same time curtailing growth of the national debt.

The Republican radio show host Hugh Hewitt has been beating the drum on a good idea relating to this issue. He says why doesn't the Republican Senate and House caucuses agree on a simple message on this issue, a simple ask on this issue and that will enable the national Republican party to keep public attention on this proposal thereby creating public support for the proposal. If Republican House and Senate leadership could back a simple fair proposal there is enough Republican and Democrats in Congress that want to get stuff done they didn't come to Washington to play political games they came to improve things in the country and they could move this legislation ball across the finish line. Hugh on this overall issue is off the mark because his ask proposal on this issue is he wants more security on the southern border although his ask is understandable because when one looks at the southern border and sees huge groups of people illegally coming to America it is clear the U.S. government is failing in their duty to control immigration to our country and insure U.S. laws and good public policy is followed but Democrats can rightfully say if you Republicans want to fix this problem negotiate on the issue don't just pursue added security don't make it a one way street how about basic good things like a path to citizenship for Dreamers!

The greedy corrupt Democrat Politicians treat the Taxpayers like they are their Slaves.
They don't care if they bankrupt America as long as they can get their kickbacks.
If America's $31 trillion dollar debt were stacked in one dollar bills it would be 2 million miles high.

 

[Toddsterpatriot]

Treasury Secretary Janet Yellen stated this week that the nation will hit its $31 trillion debt limit sometime at the end of this month necessitating emergency money management measures which will give the country until early June where upon the country could begin defaulting on its bills and therefore Secretary Yellen is requesting the Congress raise the nation's debt limit before this June 1 date. Now most right wing Republican members of Congress which are the majority of the Republican caucus in both chambers in their pre-midterm elections and post midterm elections rhetoric have essentially said they want to go the mattresses on this issue meaning they want a significant cut in government spending or they aren't raising the debt limit. Knowledgeable rationale people on economics know that not raising the debt ceiling will cause self-inflicted catastrophic consequences for the nation's and the world's economy (it will be worse than the 2008/2009 Great Recession) because the Treasury will not be able to indefinitely juggle taking incoming tax revenue and paying the principal and interests on Treasury bonds and Treasury notes when they become due and when the timing of this transfer fails and the Treasury defaults the credit rating of U.S Treasury bonds will lose their triple A credit rating, their ultra-safe bond rating, which will trigger a collapse in the Treasury Bond market, will trigger a massive selling of Treasury bonds, will trigger insurance contracts guaranteeing payment on Treasuries (swap contracts) to be obligated to pay out, to be effectuated, etc.. All these developments will create epic losses for financial institutions, it will collapse the U.S. and World wide equity markets and bond markets and cause massive layoffs and bankruptcies in America and internationally; the world has never seen the resulting negative effects and the world's Central banks will not be able to stop the negative wave because U.S. Treasury bonds will have permanently lost their trustworthiness as places to store money (Treasury bonds are the coin of the realm for the territory that is the underpinnings of America's and the World's economy (it is considered as safe an asset as safe can be for people that significantly move and store money in economies), it will have permanently left a significant instability in the U.S. Treasury bond market which will permanently destroy a vital foundational column of the U.S. and World-wide economies!

Good sense for Republicans on this issue is not to take this debt ceiling issue and turn it into a gun and put it to the temple of the Democrats and say cut federal spending to my liking or I will pull the trigger because Democrats will not succumb to this pressure because they know this means this will subject them to future extortion when raising the debt ceiling issue comes up in the future which it periodically does. The Good Sense approach by the Republicans would take this issue as an opportunity to negotiate a fair deal at reducing the growth of the national debt to put off the day "which Congresswomen Nancy Pelosi most aptly described as the day of Armageddon when sovereign debt investors don't want to buy Treasury bonds any more because U.S. finances are such a mess the U.S. Government is just printing money so the U.S. dollar doesn't deserve to hold stable value against other good currencies". A "fair deal" means a deal where there is revenue raising through the tax code commensurate with the federal spending cuts. An added carrot could be that Social Security's finances indicate they will run out of money in a few years, a deal to structurally reduce the growth of the national debt could extend the solvency of the Social Security program if the deal involved a cut in spending in Social Security - addressing the looming deficit in Social Security is something Congress will have to within the next ten years address so likely members of both parties should welcome addressing it and at the same time curtailing growth of the national debt.

The Republican radio show host Hugh Hewitt has been beating the drum on a good idea relating to this issue. He says why doesn't the Republican Senate and House caucuses agree on a simple message on this issue, a simple ask on this issue and that will enable the national Republican party to keep public attention on this proposal thereby creating public support for the proposal. If Republican House and Senate leadership could back a simple fair proposal there is enough Republican and Democrats in Congress that want to get stuff done they didn't come to Washington to play political games they came to improve things in the country and they could move this legislation ball across the finish line. Hugh on this overall issue is off the mark because his ask proposal on this issue is he wants more security on the southern border although his ask is understandable because when one looks at the southern border and sees huge groups of people illegally coming to America it is clear the U.S. government is failing in their duty to control immigration to our country and insure U.S. laws and good public policy is followed but Democrats can rightfully say if you Republicans want to fix this problem negotiate on the issue don't just pursue added security don't make it a one way street how about basic good things like a path to citizenship for Dreamers!

the Treasury will not be able to indefinitely juggle taking incoming tax revenue and paying the principal and interests on Treasury bonds and Treasury notes when they become due

Why not? Show your math.

 

[hadit]

The GOP had little problem increasing the debt ceiling during Trump...three times

Yippee Ki Yay. Has nothing to do with now.

 

[Tom Paine 1949]

“If America's $31 trillion dollar debt were stacked in one dollar bills it would be 2 million miles high.”

If the 31 trillion dollars of debt were piled up in copper Pennies it would be 2 billion miles high, tip over the earth and interfere with the workings of our whole solar system!

Alien civilizations are watching with wry amusement.

 

[Dont Taz Me Bro]

The GOP had little problem increasing the debt ceiling during Trump...three times

The debt only matters when a Democrat is in the White House.

 

[bripat9643]

Treasury Secretary Janet Yellen stated this week that the nation will hit its $31 trillion debt limit sometime at the end of this month necessitating emergency money management measures which will give the country until early June where upon the country could begin defaulting on its bills and therefore Secretary Yellen is requesting the Congress raise the nation's debt limit before this June 1 date. Now most right wing Republican members of Congress which are the majority of the Republican caucus in both chambers in their pre-midterm elections and post midterm elections rhetoric have essentially said they want to go the mattresses on this issue meaning they want a significant cut in government spending or they aren't raising the debt limit. Knowledgeable rationale people on economics know that not raising the debt ceiling will cause self-inflicted catastrophic consequences for the nation's and the world's economy (it will be worse than the 2008/2009 Great Recession) because the Treasury will not be able to indefinitely juggle taking incoming tax revenue and paying the principal and interests on Treasury bonds and Treasury notes when they become due and when the timing of this transfer fails and the Treasury defaults the credit rating of U.S Treasury bonds will lose their triple A credit rating, their ultra-safe bond rating, which will trigger a collapse in the Treasury Bond market, will trigger a massive selling of Treasury bonds, will trigger insurance contracts guaranteeing payment on Treasuries (swap contracts) to be obligated to pay out, to be effectuated, etc.. All these developments will create epic losses for financial institutions, it will collapse the U.S. and World wide equity markets and bond markets and cause massive layoffs and bankruptcies in America and internationally; the world has never seen the resulting negative effects and the world's Central banks will not be able to stop the negative wave because U.S. Treasury bonds will have permanently lost their trustworthiness as places to store money (Treasury bonds are the coin of the realm for the territory that is the underpinnings of America's and the World's economy (it is considered as safe an asset as safe can be for people that significantly move and store money in economies), it will have permanently left a significant instability in the U.S. Treasury bond market which will permanently destroy a vital foundational column of the U.S. and World-wide economies!

Good sense for Republicans on this issue is not to take this debt ceiling issue and turn it into a gun and put it to the temple of the Democrats and say cut federal spending to my liking or I will pull the trigger because Democrats will not succumb to this pressure because they know this means this will subject them to future extortion when raising the debt ceiling issue comes up in the future which it periodically does. The Good Sense approach by the Republicans would take this issue as an opportunity to negotiate a fair deal at reducing the growth of the national debt to put off the day "which Congresswomen Nancy Pelosi most aptly described as the day of Armageddon when sovereign debt investors don't want to buy Treasury bonds any more because U.S. finances are such a mess the U.S. Government is just printing money so the U.S. dollar doesn't deserve to hold stable value against other good currencies". A "fair deal" means a deal where there is revenue raising through the tax code commensurate with the federal spending cuts. An added carrot could be that Social Security's finances indicate they will run out of money in a few years, a deal to structurally reduce the growth of the national debt could extend the solvency of the Social Security program if the deal involved a cut in spending in Social Security - addressing the looming deficit in Social Security is something Congress will have to within the next ten years address so likely members of both parties should welcome addressing it and at the same time curtailing growth of the national debt.

The Republican radio show host Hugh Hewitt has been beating the drum on a good idea relating to this issue. He says why doesn't the Republican Senate and House caucuses agree on a simple message on this issue, a simple ask on this issue and that will enable the national Republican party to keep public attention on this proposal thereby creating public support for the proposal. If Republican House and Senate leadership could back a simple fair proposal there is enough Republican and Democrats in Congress that want to get stuff done they didn't come to Washington to play political games they came to improve things in the country and they could move this legislation ball across the finish line. Hugh on this overall issue is off the mark because his ask proposal on this issue is he wants more security on the southern border although his ask is understandable because when one looks at the southern border and sees huge groups of people illegally coming to America it is clear the U.S. government is failing in their duty to control immigration to our country and insure U.S. laws and good public policy is followed but Democrats can rightfully say if you Republicans want to fix this problem negotiate on the issue don't just pursue added security don't make it a one way street how about basic good things like a path to citizenship for Dreamers!

So just agree to whatever spending the Dims demand?

Who do you think you're fooling?

 

[bripat9643]

The debt only matters when a Democrat is in the White House.

It sure doesn't matter to the Dims.

 

[easyt65]

Treasury Secretary Janet Yellen stated this week that the nation will hit its $31 trillion debt limit sometime at the end of this month necessitating emergency money management measures which will give the country until early June where upon the country could begin defaulting on its bills and therefore Secretary Yellen is requesting the Congress raise the nation's debt limit before this June 1 date. Now most right wing Republican members of Congress which are the majority of the Republican caucus in both chambers in their pre-midterm elections and post midterm elections rhetoric have essentially said they want to go the mattresses on this issue meaning they want a significant cut in government spending or they aren't raising the debt limit. Knowledgeable rationale people on economics know that not raising the debt ceiling will cause self-inflicted catastrophic consequences for the nation's and the world's economy (it will be worse than the 2008/2009 Great Recession) because the Treasury will not be able to indefinitely juggle taking incoming tax revenue and paying the principal and interests on Treasury bonds and Treasury notes when they become due and when the timing of this transfer fails and the Treasury defaults the credit rating of U.S Treasury bonds will lose their triple A credit rating, their ultra-safe bond rating, which will trigger a collapse in the Treasury Bond market, will trigger a massive selling of Treasury bonds, will trigger insurance contracts guaranteeing payment on Treasuries (swap contracts) to be obligated to pay out, to be effectuated, etc.. All these developments will create epic losses for financial institutions, it will collapse the U.S. and World wide equity markets and bond markets and cause massive layoffs and bankruptcies in America and internationally; the world has never seen the resulting negative effects and the world's Central banks will not be able to stop the negative wave because U.S. Treasury bonds will have permanently lost their trustworthiness as places to store money (Treasury bonds are the coin of the realm for the territory that is the underpinnings of America's and the World's economy (it is considered as safe an asset as safe can be for people that significantly move and store money in economies), it will have permanently left a significant instability in the U.S. Treasury bond market which will permanently destroy a vital foundational column of the U.S. and World-wide economies!

Good sense for Republicans on this issue is not to take this debt ceiling issue and turn it into a gun and put it to the temple of the Democrats and say cut federal spending to my liking or I will pull the trigger because Democrats will not succumb to this pressure because they know this means this will subject them to future extortion when raising the debt ceiling issue comes up in the future which it periodically does. The Good Sense approach by the Republicans would take this issue as an opportunity to negotiate a fair deal at reducing the growth of the national debt to put off the day "which Congresswomen Nancy Pelosi most aptly described as the day of Armageddon when sovereign debt investors don't want to buy Treasury bonds any more because U.S. finances are such a mess the U.S. Government is just printing money so the U.S. dollar doesn't deserve to hold stable value against other good currencies". A "fair deal" means a deal where there is revenue raising through the tax code commensurate with the federal spending cuts. An added carrot could be that Social Security's finances indicate they will run out of money in a few years, a deal to structurally reduce the growth of the national debt could extend the solvency of the Social Security program if the deal involved a cut in spending in Social Security - addressing the looming deficit in Social Security is something Congress will have to within the next ten years address so likely members of both parties should welcome addressing it and at the same time curtailing growth of the national debt.

The Republican radio show host Hugh Hewitt has been beating the drum on a good idea relating to this issue. He says why doesn't the Republican Senate and House caucuses agree on a simple message on this issue, a simple ask on this issue and that will enable the national Republican party to keep public attention on this proposal thereby creating public support for the proposal. If Republican House and Senate leadership could back a simple fair proposal there is enough Republican and Democrats in Congress that want to get stuff done they didn't come to Washington to play political games they came to improve things in the country and they could move this legislation ball across the finish line. Hugh on this overall issue is off the mark because his ask proposal on this issue is he wants more security on the southern border although his ask is understandable because when one looks at the southern border and sees huge groups of people illegally coming to America it is clear the U.S. government is failing in their duty to control immigration to our country and insure U.S. laws and good public policy is followed but Democrats can rightfully say if you Republicans want to fix this problem negotiate on the issue don't just pursue added security don't make it a one way street how about basic good things like a path to citizenship for Dreamers!

At some point piticians have to take tbe national debt seriously and simply STOP criminally fiscal sprnding, STOP raising the debt ceiling, start paying down/off the debt instead of adding to it IR simply come out and say, 'F* it - we are NEVER goibg to pay off our debt, not even going to TRY to do so!'

What part of that recent pork-bloated, criminally fiscal trillion+-dollar Omnibus bill demonstrated any serious concern for our growing national debt, any intolerance of our growing debt, and / or any serious desire to stop deficit-spending or to begin paying off our $31+ trillion dollar debt instead of continuing to add to it?

NONE OF IT!

 

[Dont Taz Me Bro]

It sure doesn't matter to the Dims.

And they don't lie about it, do they

 

[bodecea]

tl;dr

Submit and sign a balanced budget.

Problem solved.

Looking forward to Cancun Cruz reading another Dr Seuss book for you?