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re: Bannon reports Yellen is in panic mode over Rs immovable position on the debt ceiling.
Posted on 5/19/23 at 11:34 am to Bayou Brat
Posted on 5/19/23 at 11:34 am to Bayou Brat
quote:
They are already setting the narrative to lay blame on the R's and the media will report what they're told to.
Which is exactly why this was always bad strategy. The GOP had more cards in holding up literally everything else than they do on this issue because no one, including the GOP, thinks default is actually an option.
1
Posted on 5/19/23 at 11:34 am to Indefatigable
quote:
Except it isn't. At least not the debt ceiling.
Yes it is. It's about raising the debt ceiling in the future to borrow money to spend in the future.
The legislative branch has the power TODAY to make this all unnecessary, but cutting expenses in line with revenues.
But they won't, instead using this false narrative of "we have to do this to pay our obligations"
It's bullshite.
Posted on 5/19/23 at 11:36 am to Bjorn Cyborg
quote:
It's about raising the debt ceiling in the future to borrow money to spend in the future.
Its about raising the debt ceiling because Treasury runs of of money in a couple weeks to pay debts that have already been incurred or legal obligations that have already been approved.
quote:
The legislative branch has the power TODAY to make this all unnecessary, but cutting expenses in line with revenues.
Next year's federal budget could contain $0.00 in new expenditures, and we would still have to raise the debt ceiling this month to pay for things we already agreed to pay. Unless you are fine with not making bond or interest payments, and ceasing SS payouts, etc.
This post was edited on 5/19/23 at 11:38 am
Posted on 5/19/23 at 11:37 am to Indefatigable
quote:
no one, including the GOP, thinks default is actually an option.
If no one thinks it is an option, then Team Biden should be willing to come to the table about an alternative instead of saying “my way or the highway.”
The problem with playing chicken is knowing when to flinch.
Posted on 5/19/23 at 11:38 am to Bass Tiger
We have got to reign in costs.
Republicans will get blamed and ridiculed in media either way. So do what’s right and ignore the media.
Republicans will get blamed and ridiculed in media either way. So do what’s right and ignore the media.
This post was edited on 5/19/23 at 11:38 am
Posted on 5/19/23 at 11:38 am to teke184
quote:
If no one thinks it is an option, then Team Biden should be willing to come to the table about an alternative instead of saying “my way or the highway.”
No, since they know it isn't an option there is zero reason for Team Biden to flinch.
Posted on 5/19/23 at 11:39 am to Indefatigable
quote:
You pay the bill regardless, no?
That’s the point. Raise the debt ceiling on the condition that spending habits change. That’s fair and reasonable.
Posted on 5/19/23 at 11:39 am to Indefatigable
quote:
Its about raising the debt ceiling because Treasury runs of of money in a couple weeks to pay debts that have already been incurred or legal obligations that have already been approved.
Well in theory they could cut discretionary spending and use revenues to cover existing obligations and debts. Of course this is never going to happen in practice.
Posted on 5/19/23 at 11:40 am to Indefatigable
quote:
No, since they know it isn't an option there is zero reason for Team Biden to flinch.
I believe the term “Black Swan event” refers to something where there is supposed to be no way it happens then it ends up happening.
Treating something like this as having no way of happening has a habit of making that exact thing happen.
Posted on 5/19/23 at 11:40 am to Indefatigable
quote:
Except in reality, you pay the bill regardless of what you do with the card.
Which is exactly what Biden said won’t happen. He will not service debts unless he gets an extension on the credit card. The Democrats are the irresponsible ones based on both budgets put forward by anyone not suffering from mental illness.
Posted on 5/19/23 at 11:41 am to Indefatigable
quote:
You pay the bill regardless, no?
Is that what you think the argument is over?
Posted on 5/19/23 at 11:42 am to Indefatigable
quote:
When the Treasury runs of of money in June because it cannot continue to borrow anymore
Then any law that is passed should solve this issue and include cuts to the budget and spending to bring it in line with revenues.
This has been the cry for decades, yet nothing is done about it.
MUH DEBT DEFAULT.
Posted on 5/19/23 at 11:43 am to Indefatigable
"We have to because we're already obligated to these debts" has been the excuse for decades.
How about cut spending to the point where that's not an issue?
How about cut spending to the point where that's not an issue?
Posted on 5/19/23 at 11:52 am to Bass Tiger
Gannon is a crazy alcoholic
Posted on 5/19/23 at 11:53 am to moneyg
quote:
Is that what you think the argument is over?
No. I understand and support cuts to future spending.
I don't think the GOP has leverage to achieve that in the debt ceiling bill that everyone here appears to see. I rate the GOP's actual willingness to default at a 0 out of 100. Clearly, so do the Democrats and the White House.
Posted on 5/19/23 at 11:54 am to Bjorn Cyborg
quote:
How about cut spending to the point where that's not an issue?
Absolutely. I'm all for it. It still has to be done this time.
Posted on 5/19/23 at 12:08 pm to Bass Tiger
quote:
Rs immovable position
Does he mean the part where they talk tough then fold like a cheap suit, AKA "doing a McConnell"?
Posted on 5/19/23 at 12:22 pm to Bass Tiger
The fed is using its blunt instrument to force a recession and control inflation. It hurts those who can least afford it the most as does inflation itself. Meanwhile, Biden's band of idiots want to borrow and print money like there is no tomorrow.
Inflation can have many sources, but borrowing and printing money is a big factor. The House holding the line on Biden's binge spending helps reduce inflation.
Of course, Biden and his squad of idiots are doing all they can to foster inflation in the supply chain in the name of Cult of Anthropogenic Global Warming. The cost of energy in particular gets into absolutely everything.
Inflation can have many sources, but borrowing and printing money is a big factor. The House holding the line on Biden's binge spending helps reduce inflation.
Of course, Biden and his squad of idiots are doing all they can to foster inflation in the supply chain in the name of Cult of Anthropogenic Global Warming. The cost of energy in particular gets into absolutely everything.
Posted on 5/19/23 at 12:26 pm to Bass Tiger
quote:
show bipartisanship....blah, blah, blah.
McCarthy isn't the same as my congresswoman Lizzie Pannill Fletcher. She's always willing the cross the aisle to get things done, and real results
Posted on 5/19/23 at 12:28 pm to Indefatigable
quote:
It still has to be done this time.
And those cuts should be part of this bill. Nothing should be signed that doesn’t ensure this is the last time the debt ceiling is ever raised.
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