Posted on 05/27/2023 7:15:15 PM PDT by SeekAndFind
Joe Biden and House Speaker Kevin McCarthy (R-CA) have come to a deal on the debt ceiling negotiations.
House GOP Speaker Kevin McCarthy announces the debt ceiling deal will have "historic reductions in spending…no new taxes, no new government programs…" pic.twitter.com/7VWACUXrfI
— Kevin Tober (@KevinTober94) May 28, 2023
The news is that they intend to lift the debt ceiling and apply new caps on spending.
He said they still had more work to do to finish the writing of it, but that it was an agreement “worthy of the American people.”
The Hill noted that some of the things they had been tussling over were “spending levels, new work requirements for social benefit programs. and permitting reforms to expedite approval of energy infrastructure projects — two Republican demands that were opposed by most Democrats.”
Now, it still remains to be seen if they will have the votes and it is something that Republicans will buy into.
The proposal still faces tall barriers to passage, particularly in the House, where conservatives wasted no time hammering the compromise as a capitulation by McCarthy to Biden — one they say has undermined the deficit reduction goals of Republicans going into the talks. They’re vowing to oppose the measure when it hits the floor. [….]
The agreement drew immediate howls from both sides of the aisle, with liberals protesting that the spending cuts are too sharp and conservatives objecting that they’re not sharp enough.
We’ll have to see what they come out with, and if they have the votes to bring it through.
The conservatives are pointing to one major point of contention: The debt ceiling hike in their legislation was capped at $1.5 trillion, while the deal McCarthy cut with Biden was expected to be nearly three times that figure.
“Unacceptable,” the Freedom Caucus tweeted.
Rep. Dan Bishop (R-N.C.) took the criticisms a long step further, saying a debt ceiling increase of that size would prompt “war” between conservatives and leadership.
“If [the] Speaker’s negotiators bring back in substance a clean debt limit increase … one so large that it even protects Biden from the issue in the presidential …, it’s war,” Bishop tweeted.
But McCarthy is claiming victory.
Despite the conservative criticisms, Republicans clearly won the debate in one important sense: Unlike debt ceiling fights in the past — when GOP leaders demanded spending cuts but conceded tax hikes to Democrats in return — McCarthy drew a red line on new revenues early in the process, focusing the deficit reduction effort squarely on only the spending side of the budget equation in what amounts to a major victory for Republicans.
As this is a breaking story, RedState will provide further details when they become available.
I don’t trust the Democrats. They are lying.
Ad Astra!
Not to worry. There needs to be at least one more last-minute cramp to thrill the audience (you) just before the sudden heroic Resolution, and Earth is saved again.
Fade to black roll credits and walk-out music.
(Good Guys ALWAYS win at the end of the last reel — except in European Art Films.)
THAT is why I refer to LIEberal Democrats as LIEberal Democrats!
THEY LIE!
> caps on spending
Let me guess. The cap is 10,000 times the current budget.
Late Saturday night for the GOP’s latest fold.
If they are reducing the spending, why do they need to raise the cap?
Because it really isn’t a reduction in spending — it is only a reduction in governmental gobbledygook doublespeak.
So sick of this F’ing circus.
The government uses baseline budgeting.
A cut isn’t really a cut. A reduction in spending isn’t really a reduction in spending. They’re still going to spend more next year than they did this year. A lot more.
We’ll see. I think the Biden administration is just setting him up for “he betrayed us” talk.
Why not let a Hunter Biden tax form appear tomorrow on Fox news or something?
You can play dirty too.
So McCarthy folded, claimed, victory, and thinks we are stupid enough to go for it?
McCarthy should have passed the bill weeks ago
A multi-trillion-dollar ceiling. Must have some nice filigrees.
This reminds me of when President Trump invited Pelousy and Schumer to the Oval Office. Just after his inauguration, President Trump invited them to discuss the big issues. President Trump invited a few reporters and cameras also. When President Trump began to talk, Pelousy announced that they could not proceed with the media present. She could not chance any witnesses, video of her lies. If any such recordings had existed, all the lies she told, for days and days, would be obvious. It would not have effected Pelousy at all personally. As with most democRATS, they have no conscience or soul.
Republicans have 5 seat majority, only 3 have to vote with dem caucus to pass anything. There are dozens of bed wetting rino losers who are scared to death of the media calling them names so thumis whole debt thingy is a joke. They did their job and passed a bill, go home. If dems dont accept make more cuts each time. Thats how I buy houses. My counter is less than my first offer.
Anyway, when you check your balls at the door, no one is going to care what your demands are.
The American people already spoke. The dems poured gas on the fire when inflation was peaking after 40 years, the American people said okay and kicked out the dems. Just repealed the assinine so called IRA. Its that simple, no IRS agents, green new deal, electic unicorn stuff etc. No republicans voted for it so repealed and give them 6 months on debt cap. If they refuse they default not us.
Be sure to read the small print!
Beltway BS. They will just fund new projects within existing programs so as not to create a "new program"
.
Yeah, the Devil is in the details.
McCarthy promised to cut all the money for new IRS agents / investigators.
Let’s see if he left any money in. He had all the chips, all the cards, and the Dems didn’t have a bill. There was no competing legislation.
I don’t trust either Party on this.
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