Posted on 05/01/2023 10:49:48 AM PDT by John Semmens
The efforts of House Speaker Kevin McCarthy (R-CA) to negotiate a compromise agreement to raise the government's debt limit was flatly rejected by President Biden.
Presidential Press Secretary Karine Jean-Pierre explained that "the President considers any attempt to restrict the amount he needs to spend an attack on our democracy. The American people voted for him to be president. This empowers him to determine what has to be done for the benefit of the country. It is Congress' job to pass the legislation necessary to fund the President's programs. Refusing to do what the President wants is treason."
McCarthy called the Press Secretary's conception of the roles of the respective branches of government "inane. The purpose of our government's division of powers is to generate compromise for the public good. In no way is Congress obligated to fulfill the demands of any president. As we see it, the exorbitant spending desired by President Biden is the root cause of the current spate of rising inflation. Too much money is being spent on things of little value. What we are asking in exchange for raising the debt ceiling is a modest 1% reduction in some of that spending."
US Treasury Secretary Janet Yellen warned that "failure to raise the debt limit will destroy the people's faith in our government and wreck our economy. To me, the mere threat to refuse to raise the debt limit is extortion. That's a crime under US Law. McCarthy and any other member of Congress who won't immediately vote for a 'no strings attached' increase in the debt limit is an enemy of democracy. The President should arrest them and appoint replacements who will vote for unlimited debt and eliminate future financial crises."
Senate Majority Leader Charles Schumer (D-NY) insisted that "exorbitant spending is our only viable option in today's runaway inflation. The notion that we can reduce outlays on anything is unreasonable. Continuing to borrow money at an increasing pace shifts the burden to those who buy our bonds. Eventually, these bonds will be rendered worthless by inflation. In the meantime, we'll still have the benefits from our spending without having to make any meaningful payments in return. Republicans say that this is dishonest, but progressives know that it is smart."
If you missed any of the other Semi-News/Semi-Satire posts you can find them at...
https://www.gopbriefingroom.com/index.php/topic,498162.0.html
>”Refusing to do what the President wants is treason.”
Yeah I think they got that backwards
If anyone knows about rejects Biden does he’s living it.
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