1ºIt is very clear to Americans watching this process that McCarthy and the MAGA House leadership is taking Trump's advice to default. If McCarthy, Trump and the MAGA crazies think that this will help them take back their seats and the presidency in 2024, their strategy will fail as no American wants to see the devastation of a US debt default that will affect them in their personal lives and pocketbooks, their 401ks and investments and savings will suffer significantly and potentially cut by half? Hello?! Who ever decided to take Trump's advice should be imprisoned right along with him. Most importantly, our Rule of Law, the Constitution says that the US should not default and must pay its debts. Figures these MAGA would follow the self-professed, "King of Debt" who is notorious for not paying his own attorneys and bills.
2ºRepublicans lost all “fiscal responsibility” credibility when they passed a bill that added $1.4 Trillion to the deficit in 2017 and then tried to blame “entitlement” programs, just as predicted, not long after the nation’s debt increased as a result.
During Donald Trump’s four years in office, a majority of Senate Republicans voted to raise or suspend the debt limit three times as Trump added nearly $8 trillion to the national debt.
The national debt has risen by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much as what Americans owe on student loans, car loans, credit cards and every other type of debt other than mortgages, combined, according to data from the Federal Reserve Bank of New York. It amounts to about $23,500 in new federal debt for every person in the country.
https://www.americanprogr...ing-debt-ratio/
3ºDave Messier Dave, in 2025 the tax codes may have changed so much that no one will recognize them. They change completely every year. However, 2 years of not having taxes go up for most Americans is going to be huge, especially when corporations will see their tax rate rise by 15%, which is how we pay for that. Mind you, the Republicans have no idea how they are going to pay for anything they are advocating, so I'll take that two years of my taxes not going up. And maybe by 2025 we will have come to our senses and raise the rates on billionaires and corporations to a more equitable level.
4ºWe need to freeze the debt ceiling. The total amount per person is already ridiculous. Raising the debt ceiling just gives our foreign adversaries more power over the USA.
We owe China too much money. How may Chinese owned companies advertise on US media? This is leverage on content we see. Look how most media report almost the exact same thing, word for word.
Our media is not free press. They are bought and paid for.
Call it conspiracy, so was Bidens laptop at first. The press tries to conceal, but our free speech will always reveal the truth.
The corruption runs deep and it relevancy depends on the people being distracted by social issues.
5ºThe problem here is that McCarthy is beholden to the anarchist wing of the GOP who genuinely WANT to blow things up. That group is infatuated with the use of power as their only end goal and they are positively giddy at the power they think they have as they hold the entire global economy hostage. Giving the power of a weapon like the debt ceiling to those crazies (MTG, Gaetz, Gosar, et al) is exactly like giving an emotionally unstable 13 year old a gun. More than anything else, they WANT to shoot something. These anarchists WANT to blow up the global economy because they CAN. There is no deal to be made with the GOP because they will not take "Yes" for an answer. If Biden were to give in on every extortionist demand to pass their version of a debt limit then they would simply add more demands
6ºGregg Duval it has everything to do with the debt ceiling.
Biden isn’t creating new spending.
Interest is an expense that exists when you create a budget and borrow to spend on what you budgeted. Congress knows this when they create laws and pass a budget . So they are aware that the defecit will lead to borrowing and will lead to interest expenses.
The 14th amendment simply stated that the debt of the country can not be questioned legally created (which means passed through congress) Biden is simply stating that the 14th amendment needs to be honored . And the debt ceiling , if not passed, would be questioning the us debt thereby making the need for congress to vote on it for our obligations to be met in violation of the 14th amendment.
It doesn’t confer the power of the purse to the presidency because it is not authorizing new spending that wasn’t already authorized by congress .
7ºThomas Na according to the Constitution, you cannot refuse to pay our national debt.....it is called the 14th amend.....maybe the "patriots" need to read it.....lmao lmao....WOW, in one sentence you admitted to being a RACIST, BIGOT, and ANTI-DEMOCRAT, and with a last name such as yours, you have to be from an immigrant family........should we send you back to your home country? You are one of four things in this country: NATIVE AMERICAN, REFUGEE, IMMIGRANT OR SLAVE. Which are you? You are aware that we paid for Cuban illegal aliens for over 57 years,,,,, they received: SS, Medicare, Medicaid, free loans not required to be paid back, and grants not to be paid back,, You don't know much about the debt or deficit do you? The debt is for past spending of which the repubs caused an 8 trillion in spending for the Rich tax break and we will be paying for it until 2033. We are still paying for the Two WARS that lasted twenty years since the GOP STARTED......MORE reading is required before you make those kinds of statements....
8ºBiden's choice of words and tone from Hiroshima seem to imply he will NOT compromise and will blame the GOP for the blow out if the debt ceiling us not resolved by June 1st...ergo...under HIS administration, the next GREAT DEPRESSION is about to unfold..and he's still BLAMING the GOP for all his FAILURES to curb all his inflationary spendings....Seems like its his tactic..blame the GOP for all his FAILURES...and the FAILURE to resolve the debt ceiling will serve a great cover to divert the attention away from all the congressional probes into the BIDEN corruption scams...taking the voters as SAPS..!!!
9ºYeah, those two WARS that lasted twenty years that the GOP started really cost us a bunch of money... Then we have the 8 Trillion trump ran up in just four years...The last time the government paid down the debt was in the second quarter of 2016, under President Barack Obama.
This means that under President Donald Trump, the Treasury did not pay down the debt in any quarter. That tax break for the rich will be costing us billions for many years....According to a report released today by the nonpartisan Congressional Budget Office (CBO), extending the Trump tax cuts would add $3.5 trillion to the deficit through 2033. WOOT WOO, the rich really needed that break.....
10ºSean Nugent that's what trumps said. Screw responsible spending. I'm president now. What did he do? trump spent 8 trillion, 2 trillion dollar tax cuts went to the rich. Responsible spending? Nope. Largest ever for one term. And guess what , magically they all agreed to raise the debt ceilings . 3 times . imagine that. now trump believes that since it's Biden as president, maga should not negotiate. This is what this is about. McCarthy is playing games and he will share the blame. Budget Shutdowns , always backfires on republicans. Never defaulted on our debt. So do hostage takers win?