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McCarthy Still Holding The Line on Raising The Debt Ceiling
Posted on 4/18/23 at 5:29 am
Posted on 4/18/23 at 5:29 am
I'm interested in seeing the exact details of the proposal, but it's going to become much more difficult for the White House to blame the debt ceiling issues on Republicans if they've already passed a bill that's sitting on the table for the Senate and President to act on.
Breitbart
Breitbart
quote:
House Speaker Kevin McCarthy (R-CA) reportedly said Monday that he believes there are 218 votes to pass House Republicans’ forthcoming debt ceiling resolution, which he said contains measures to limit federal spending, save taxpayers’ money, and “grow the economy.”
McCarthy unveiled the framework for the impending legislation from House Republicans at the New York Stock Exchange on Monday, his 100th day as speaker of the House. Soon after McCarthy’s remarks, CNN Senior Capitol Hill Reporter Haley Talbot tweeted that he told the outlet, “I think we got 218 to raise the debt ceiling.”
quote:
While speaking at the stock exchange, McCarthy declared that a resolution to raise the debt ceiling without conditions, as had long been the White House’s posture, will not advance from the House:quote:
Let me be clear, A no strings attached debt limit increase will not pass. But since the president continues to hide, House Republicans will take action. So here’s our plan, in the coming weeks the House will vote on a bill to lift the debt ceiling into the next year, save taxpayers trillions of dollars, make us less dependent upon China, curve our high inflation, all without touching Social Security and Medicare. Simply put, it puts us on fiscally responsible path in three ways: It limits, it saves, and it grows.
quote:
The legislation would return “the federal government to 2022 levels and then limit the growth of spending over the next ten years to one percent of annual growth,” he emphasized.
quote:
Our proposal will also restore work requirements that ensure able-bodied adults without dependents earn a pay check and learn new skills. That will grow our economy and help the supply chain. Right now there are more job openings than people who are looking for jobs. You know why? It’s in part because the Biden Administration weakened work requirements. Incentives matter and the incentives today are out of whack. It’s time to get Americans back to work.
Don’t believe anyone who says our plans hurt America’s social safety net. We’re a very generous nation, and when people fall on tough times, we’ll help them. That will not change. But this is important, assistant programs are supposed to be temporary not permanent. A hand-up not a hand-out. A bridge to end dependence not a barrier.
Just as Ronald Regan understood the importance of economic growth, we should welcome and celebrate the benefits of a strong growing economy. For with a strong growing economy, we will no longer be dependent on China, we will no longer be victims to inflation and we can protect and preserve social security and Medicare.
Posted on 4/18/23 at 5:43 am to BengalOnTheBay
If I've heard it right, it's been something like 75 days since Biden has spoken to McCarthy.
That needs to be harped on especially since Biden is spending an abnormal amount of time (anywhere for a president) in Ireland last week.
Gotta love the Biden admin saying the house Repubs should give Biden they same no strings attached deal as they gave Trump. What a bunch of losers.
That needs to be harped on especially since Biden is spending an abnormal amount of time (anywhere for a president) in Ireland last week.
Gotta love the Biden admin saying the house Repubs should give Biden they same no strings attached deal as they gave Trump. What a bunch of losers.
Posted on 4/18/23 at 6:16 am to BengalOnTheBay
quote:
Soon after McCarthy’s remarks, CNN Senior Capitol Hill Reporter Haley Talbot tweeted that he told the outlet, “I think we got 218 to raise the debt ceiling.”
Posted on 4/18/23 at 6:41 am to BengalOnTheBay
I guess Gaetz and the others are going to let him get away with never releasing the Jan 6 video.
Posted on 4/18/23 at 7:16 am to BengalOnTheBay
If the plan is to limit spending, why do we need to raise the debt ceiling? If they were serious about anything of value, they would demand steep cuts to entitlement programs. Without that, every other word out of McCarthy or the other Republicans is utter bullshite.
Posted on 4/18/23 at 8:00 am to Southof10Tiger
@POTUS2024 - I agree the tapes need to be released, but there are a lot of things going on so I'll give credit and criticism both, where due.
Do you realize how big the deficit is right now? I'm not sure it would even be possible to balance the budget right now. The best plan is to cut some spending, incrementally scale back some entitlements, and stop/drastically slow the budgeted increase in spending every year. If we did that, in 5 years the budget would balance itself with minimal "effort" on Congress's part. That seems to be the strategy McCarthy is taking and I agree with it.
quote:
If the plan is to limit spending, why do we need to raise the debt ceiling? If they were serious about anything of value, they would demand steep cuts to entitlement programs.
Do you realize how big the deficit is right now? I'm not sure it would even be possible to balance the budget right now. The best plan is to cut some spending, incrementally scale back some entitlements, and stop/drastically slow the budgeted increase in spending every year. If we did that, in 5 years the budget would balance itself with minimal "effort" on Congress's part. That seems to be the strategy McCarthy is taking and I agree with it.
Posted on 4/18/23 at 8:07 am to KAGTASTIC
frick you McCarthy, what the hell good does it do for the House to limit spending when Biden spends money like a drunken sailor, particularly to f-Ukraine.
Time for Gaetz et.al. to declare "no deal" and hold new votes for SOTH
Time for Gaetz et.al. to declare "no deal" and hold new votes for SOTH
This post was edited on 4/18/23 at 8:08 am
Posted on 4/18/23 at 8:24 am to BengalOnTheBay
quote:
Simply put, it puts us on fiscally responsible path in three ways: It limits, it saves, and it grows.
I am sorry but at rate the U.S. government spends money, there is no limit, no saving, but it is always growing.
Until we enact a meaningful debt and accounting of expenditures, the US will always be shown in the red.
Social Security and Medicare taxes and expenditures should not be included in the total yearly debt calculation. By including those funds, it clouds the yearly debt calculations by showing more money coming in and out of what was supposed to be a separate trust fund.
Now if the federal government has to use general funds to stabilize or repay previously loans from those trusts, that should be accounted for.
Posted on 4/18/23 at 8:53 am to Tarps99
quote:
Until we enact a meaningful debt and accounting of expenditures, the US will always be shown in the red.
Social Security and Medicare taxes and expenditures should not be included in the total yearly debt calculation. By including those funds, it clouds the yearly debt calculations by showing more money coming in and out of what was supposed to be a separate trust fund.
Now if the federal government has to use general funds to stabilize or repay previously loans from those trusts, that should be accounted for.
I agree with that premise. Certainly the baseline budgeting and the way federal government accounting is performed has to be improved. And there is zero accountability when hundreds of billions of dollars at places like the Pentagon simply disappear.
Posted on 4/18/23 at 9:14 am to BengalOnTheBay
McCarthy talking out both ends of his body..
First he says he will "return spending to 2022 amounts" then out his BS hole he's saying he will "raise the debt limit'.
He's from California and is so confused ...
Need Scalise to speak in straight logical true terms
First he says he will "return spending to 2022 amounts" then out his BS hole he's saying he will "raise the debt limit'.
He's from California and is so confused ...
Need Scalise to speak in straight logical true terms
Posted on 4/18/23 at 9:17 am to BengalOnTheBay
Without a constitutional amendment requiring a balanced budget, it will never happen. There is zero incentive from either party to balance the budget and reduce the debt.
I appreciate your optimism though. I used to be that way too.
I appreciate your optimism though. I used to be that way too.
Posted on 4/18/23 at 9:41 am to BengalOnTheBay
quote:
The best plan is to cut some spending, incrementally scale back some entitlements
The best way for this would be for time limits for benefits, like 5 years for life.
Anyone could get down on their luck and have to get on assistance. But for many it is a way of life. There are people that live around my farm that are 50-60 years old and have NEVER had a job in their entire lives. Their excuse is that there are no jobs in north Sumter county, which is true, but why dont they go to where the jobs are? Tuscaloosa or Livingston Alabama (both an hour away) have lots of help wanted signs out.
The real reason is they are comfortable living on the meager amounts the government gives them. Its really sad.
Posted on 4/18/23 at 10:58 am to alphaandomega
quote:
The best way for this would be for time limits for benefits, like 5 years for life.
I think that would difficult to manage for the behemoth of the federal government, but I really like the general concept and philosophy behind it.
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