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Debt ceiling was suspended June2023 so Biden/DC could spend money off the books on Ukraine
Posted on 12/20/24 at 12:41 pm
Posted on 12/20/24 at 12:41 pm
The CR is so convoluted, this is the best explanation I have seen so far...
So why does DC need an unchecked debt to continue? Why would any more money need to go to Ukraine?
quote:Breaking News on Fox News a minute ago: Putin wants to work with Trump to shut down the war in Ukraine.
After a group of 38 republicans aligned with almost all democrats in the house, the effort to raise the debt ceiling and fund government failed.
Unbeknownst to most, the debt ceiling was suspended in Jun of 2023. As a result, Joe Biden and congress could spend on Ukraine without worry about the debt ceiling being a hurdle. The UniParty suspended the debt ceiling with a purpose.
Starting Jan 1st, 2025, the debt ceiling issue is scheduled to return. National debt will be whatever it was when the debt ceiling was suspended plus whatever spending Biden and the UniParty did since June of 2023. A new debt ceiling is estimated to be hit by June of 2025 or earlier.
President Trump told Speaker Mike Johnson -using the CR as a vehicle- to push the restart of the debt ceiling back for 2 years. This would allow for continuance of the tax cuts that President Trump wants to make; plus, economic drivers like no tax on tips, no tax on social security, no tax on overtime, a 15% tax bracket for companies who build, invest and manufacture in the USA. Expanding the economy is the goal.
Our government considers tax cuts as government spending. So, if congress does $4 trillion in tax cuts, the government considers that $4 trillion in additional spending.
The debt ceiling reinitiating next year will make President Trump have to figure out how to pass the tax cuts without going over the debt ceiling and triggering a default.
By not moving the non-existent debt ceiling back two more years, the 38 “true conservatives” stopped the American people from getting more of our money returned via tax cuts and they keep more money in the government.
DOGE was planned to come in under the Trump plan to reduce the size of government at the same time ultimately addressing the issue of the 38 conservatives.
LINK
So why does DC need an unchecked debt to continue? Why would any more money need to go to Ukraine?
12
Posted on 12/20/24 at 12:42 pm to cajunangelle
So we should definitely do more of that. 
Posted on 12/20/24 at 12:44 pm to cajunangelle
I profess my ignorance here: How can you suspend the ceiling?
It seems counterintuitive in that you just spend more and then…don’t put it on “the books,” even though it still adds to the debt?
Treat me like a caveman here, thanks.
It seems counterintuitive in that you just spend more and then…don’t put it on “the books,” even though it still adds to the debt?
Treat me like a caveman here, thanks.
Posted on 12/20/24 at 12:51 pm to cajunangelle
All that money has to be approved by Congress and I don't recall any huge Ukranian Spending Resolution or bill in that time period. Sounds like a false story to me put out by some Putin boot licker.
Posted on 12/20/24 at 12:55 pm to cajunangelle
Seeing as it's always raised, what's the point? It's a rubber stamp
Posted on 12/20/24 at 1:00 pm to cajunangelle
They want a default to blame on Trump plus block his planned tax cuts.
This post was edited on 12/20/24 at 1:02 pm
Posted on 12/20/24 at 1:03 pm to Laugh More
quote:
I profess my ignorance here: How can you suspend the ceiling?
It seems counterintuitive in that you just spend more and then…don’t put it on “the books,” even though it still adds to the debt?
Treat me like a caveman here, thanks.
It's on the books, they just put a smiley face sticker over the spending limit entry for that period.
Posted on 12/20/24 at 1:08 pm to Eurocat
This is the article from Bloomberg, but Bloomberg has a paywall.
Debt Ceiling Deal Puts No Limits on Ukraine Aid
It is not a story from a "putin bootlicker."
Debt Ceiling Deal Puts No Limits on Ukraine Aid
It is not a story from a "putin bootlicker."
Posted on 12/20/24 at 1:14 pm to Bard
And they will add it to the books just in time for Trump. It is so mad it is surreal. It is so convoluted and ridiculous. I would think that McConnell and Schumer are thrilled.
Why is it that they (McConnell and the warhawks) join Biden in cutting off their long-time diplomatic ties with Russia? Why don't they seem to want peace in Ukraine?
Why is it that they (McConnell and the warhawks) join Biden in cutting off their long-time diplomatic ties with Russia? Why don't they seem to want peace in Ukraine?
Posted on 12/20/24 at 1:22 pm to cajunangelle
They have been planning and scheming to handicap Trump for a year now.
This is all part of their plan.
Turtle is a traitor.
This is all part of their plan.
Turtle is a traitor.
Posted on 12/20/24 at 1:22 pm to cajunangelle
quote:
Our government considers tax cuts as government spending
If true that is one of the dumbest things in a world of dumb things the Fed gov does.
Tax cuts should be considered a reduction in inflows/income, not an increase in outflows/spending.
Posted on 12/20/24 at 1:56 pm to PJinAtl
DC is a mess. God be with the ones wanting to help.
Posted on 12/20/24 at 2:22 pm to cajunangelle
What will the debt limit be set to on Jan 2nd when the suspension is lifted? It can't go back to the 31T it was at in June 2023, otherwise no money could be spent until over 5T of revenue came in.
Posted on 12/20/24 at 6:44 pm to loogaroo
exactly and the average American that isn't a poli junkie have no idea.
The 'true conservatives,' did they want a pay raise? Or were they handled by Schumer and McConnell?
It has been said the 2nd bill wasn't clean. How was the 3rd? Does it matter? As by the time anyone knows, it is off for Christmas break for DC.
quote:
President Trump told Speaker Mike Johnson -using the CR as a vehicle- to push the restart of the debt ceiling back for 2 years. This would allow for continuance of the tax cuts that President Trump wants to make; plus, economic drivers like no tax on tips, no tax on social security, no tax on overtime, a 15% tax bracket for companies who build, invest and manufacture in the USA. Expanding the economy is the goal.
Our government considers tax cuts as government spending. So, if congress does $4 trillion in tax cuts, the government considers that $4 trillion in additional spending.
The debt ceiling reinitiating next year will make President Trump have to figure out how to pass the tax cuts without going over the debt ceiling and triggering a default.
By not moving the non-existent debt ceiling back two more years, the 38 “true conservatives” stopped the American people from getting more of our money returned via tax cuts and they keep more money in the government.
DOGE was planned to come in under the Trump plan to reduce the size of government at the same time ultimately addressing the issue of the 38 conservatives.
The 'true conservatives,' did they want a pay raise? Or were they handled by Schumer and McConnell?
It has been said the 2nd bill wasn't clean. How was the 3rd? Does it matter? As by the time anyone knows, it is off for Christmas break for DC.
Posted on 12/21/24 at 5:44 am to loogaroo
Posted on 12/21/24 at 6:35 am to cajunangelle
The last time, REPUBLICANS hampered Trump's campaign pledges to reform or remove Obamacare, drain the swamp and build a wall. They will be the highest hurdle this time, also.
It's hilarious to see all the "real conservatives" show up ONLY when Trump is in question.
It's hilarious to see all the "real conservatives" show up ONLY when Trump is in question.
Posted on 12/21/24 at 6:45 am to cajunangelle
quote:
So why does DC need an unchecked debt to continue? Why would any more money need to go to Ukraine?
You know why.
Posted on 12/21/24 at 7:01 am to cajunangelle
quote:
So why does DC need an unchecked debt to continue? Why would any more money need to go to Ukraine?
If I agree to work with you on buying your house should you stop paying mortgage notes? If a deal gets done, we can stop spending. To stop ahead of time is to assure that the final deal will be a lot worse than it could have been. No one knows this better than Trump.
Posted on 12/21/24 at 7:22 am to cajunangelle
quote:
How was the 3rd?
I’m not sure anyone knows.
Posted on 12/21/24 at 7:26 am to cajunangelle
quote:
Unbeknownst to most, the debt ceiling was suspended in Jun of 2023. As a result, Joe Biden and congress could spend on Ukraine without worry about the debt ceiling being a hurdle. The UniParty suspended the debt ceiling with a purpose.
Everyone here knew because SFP was making 10 threads a day about this back in 2023 because he's a fiscal conservative and this is his top priority. Right?
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