Debt Ceiling – Again and Again

This is not about limiting government spending. This is about the spending that the Congress approved, but did not have the funds to pay for it. So, it is necessary to borrow the money, and this increases our total debt. And, as I have written many times before (actually 13 posts), it has to be paid or we are in default, and this will be catastrophic.

Nothing will not be resolved by the McCarthy bill, because it has no chance passing the Senate. What the Republicans want in the House, is their “Pound of Flesh” and to make Biden look bad.

What Kevin McCarthy wants to do, is to undo many of the achievements Biden was able to accomplish in his first 2 years in office.

Per the link below: “The House bill was crafted to meet a series of demands from the ultraconservative Freedom Caucus, and it was altered in the final stretch to address regional concerns from some Republicans. Republicans in swing districts, after initially hesitating, ultimately fell in line.”

The White House Press Secretary reiterated that “this bill has no chance of becoming law,” blasting its spending caps, which she said would slash funding for “health care, education, Meals on Wheels and public safety.”

NBC News McCarthy passes his debt limit bill, but the path to averting default is deeply uncertain

Everyone can be in favor of cutting back federal spending, as long as it doesn’t affect them. Republicans want to force the hand of Democrats in choosing whether to shut down air control towers, or cutting off 1 million seniors in nutritional support programs. So, programs that are working must be shut down, but Biden gets to choose under the bill:

{See CNN link, of “Discretionary, non-military agency cuts that are in the proposed 2024 budget”] Examples the agencies gave included shutting down 125 air traffic control towers, slashing nutrition services for 1 million senior citizens and eliminating affordable housing assistance for close to 1.1 million families.

Also, the reduction would impact the 6.6 million students who rely on Pell Grants and the 1.2 million women, infants and children who receive nutrition assistance through WIC, DeLauro said. Plus, 200,000 children would lose access to Head Start and 100,000 children would lose access to child care.

Note: Representative House Appropriations Committee Ranking Member Rosa DeLauro, a Democrat from Connecticut, asked government agencies earlier this year about the potential impact of reducing fiscal 2024 discretionary, non-defense spending (with the exception of veterans’ medical care) to fiscal 2022 levels.

See CNN Reporting:

Here’s what’s in the House GOP debt limit bill

Most bizarre item is the elimination of additional IRS agents, which will answer the phone and help collect more tax, and actually result in lowering the deficit.

We’ve had some pretty close calls in the past. The House is acting like a high speed race driver, who is trying to make a turn at the highest speed possible. I am very concern that the House just might push us into default.

Stay tuned,


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