Current Events > Debt Ceiling Topic

(+) Yeah! (+)

https://www.npr.org/2023/05/16/1176216587/debt-ceiling-talks

To continue debt ceiling topic. Does a deal get done this month or not?

I think Biden uses the 14th Amendment and tells McCarthy STFU

"President Biden and top congressional leaders are meeting at the White House to continue talks on raising the nation's debt limit, but no major breakthrough is expected at the meeting, with sources on both on Capitol Hill and the White House signaling the negotiations haven't made major progress.

Although the president has struck an optimistic tone about finding a deal, House Speaker Kevin McCarthy, R-Calif., has been publicly critical of the White House's approach to the talks in recent days, warning there is little time to reach a deal and describing what he sees as little movement."

The president is slated to depart for the G7 summit in Japan on Wednesday and the speaker suggested on Tuesday he should reconsider that plan.

"Look, the president of the United States, he can make that decision one way or another. But all I know is we got 16 more days to go. I don't think I'd spend eight days somewhere out of the country. I think the country wants an American president focused on solving American problems," McCarthy told reporters.

"Are the Democrats become so progressive, so far to the left, they're changing their policies now and they want to put the country in default?" McCarthy asked

What an embarrassing statement lmao

My guess to what happens:

1) Democrats cave like usual (Most likely)

2) Both parties save face by raising the limit but saying "this isn't over!!!!!!!"

YellowSUV posted...

My guess to what happens:

1) Democrats cave like usual (Most likely)

2) Both parties save face by raising the limit but saying "this isn't over!!!!!!!"

I sure hope it's 2.

Blaming the democrats for what he's doing. He has no shame.

It begins

This feels like such a weird item to play chicken over because I genuinely don't see either side actually letting America default. It would be ruinous for all involved.

Compsognathus posted...

This feels like such a weird item to play chicken over because I genuinely don't see either side actually letting America default. It would be ruinous for all involved.

On the other hand, republicans are constantly doing things that are ruinous for all involved. Im not so sure theyre going to keep swerving at the last moment.

Biden needs to stand firm NO NEGOTIATIONS period. Even at the 11th hour. Then he must bypass congress using the 14th amendment and order the treasury to make payments. Once thats done its done regardless of what any court says.

I heard this would cause a global depression maybe worse than what happened in 1929

It would be a massive disaster if this happens.

Give us a wealth ceiling. Nobody can have more than $10m

Bad_Mojo posted...

Give us a wealth ceiling. Nobody can have more than $10m

This, unironically.

I think Biden will wait till the last second then give McCarthy everything he wants because Biden has been a proponent of austerity measures almost his entire career. "Caving" to Republicans gives him an excuse.

On the other hand. Biden really tried to court the progressive voter in 2020, and it seems that he may be trying that again for 2024, especially since Dobbs. In that case losing the debt ceiling fight would significantly harm his reelection once he tanks the economy like it tanked in 2011.

steve_madsci posted...

Biden really tried to court the progressive voter in 2020,

"tried"

The debt ceiling is fucking stupid. Congress already creates the budget, there is no need for congress to have to authorize the spending it already authorized.

uwnim posted...

The debt ceiling is fucking stupid. Congress already creates the budget, there is no need for congress to have to authorize the spending it already authorized.

US is unique this way as no other Western country has to vote to go past their budget.

name_unknown posted...

To continue debt ceiling topic. Does a deal get done this month or not?

I hope not. I'd love to see the shitstorm that happens.