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Republicans, Biden reach tentative debt ceiling deal; Congress to vote Wednesday

48 Comments
By Sebastian Smith

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48 Comments

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Republicans will through up every label and non-sequitur diversion to try to stick ; like big-spending libs, Dem,socialist, left, and all the culture war deflection mandated by their corporate masters. 

Well, the shoe fits so….

https://thenewamericanist.com/nine-of-the-2020-forbes-ten-wealthiest-americans-are-democrat-affiliated-liberal-megadonors/

That is the simple truth it is decades of Republican socialism for the rich and corporate tax breaks that destroyed American broad based prosperity and ballooned the debt. 

Up until the 90’s true and then a cultural political shift happened, the parties flipped.

https://www.washingtonexaminer.com/news/democrats-party-wealthy-irs-salt-tax-trump

The negotiations and debate and invective are all farce. 

Politics

It is all about the tax cuts for the 1% that changed the previous 90% rates on huge earnings over a certain limit. 

So you don’t want poor people and the middle class to work, move up or get raises, how Leninian from you.

The US needs to return to progressive taxation. And 95% will see their own taxes fall.

Absolutely not, but I will go with a fair flat tax across the board.

-7 ( +1 / -8 )

I guess from this poster's perspective, Peter and Paul are Trump and McCarthy...

No, they’re Dems and socialist Dems

Really? Then why was the debt limit RAISED THREE TIMES during the Trump years WITH NO BUDGET CUTS OR SPENDING LIMITS? And then why did Trump and the Repubs INCREASE THE DEBT BY $7.8 TRILLION - more than Obama or Bush?

Again, you can’t get always what you want,

Trump and the Repubs didn't want any spending limits or cuts during their four years - nor did they want to use the debt limit as a budget negotiating tool... In fact Trump said it was "sacred" and "we can never play with it"....

So why isn't it "sacred" in 2023 and why did McCarthy "play with it?"

1 ( +3 / -2 )

Ten of the last eleven recessions have begun under Republican Presidents.

https://www.nber.org/research/business-cycle-dating

4 ( +5 / -1 )

Republicans will through up every label and non-sequitur diversion to try to stick ; like big-spending libs, Dem,socialist, left, and all the culture war deflection mandated by their corporate masters.

https://itep.org/budget-deficit-revenue-shortfall-caused-by-tax-cuts-for-wealthy/

That is the simple truth it is decades of Republican socialism for the rich and corporate tax breaks that destroyed American broad based prosperity and ballooned the debt.

https://itep.org/budget-deficit-revenue-shortfall-caused-by-tax-cuts-for-wealthy/

The negotiations and debate and invective are all farce.

It is all about the tax cuts for the 1% that changed the previous 90% rates on huge earnings over a certain limit.

The US needs to return to progressive taxation. And 95% will see their own taxes fall.

3 ( +4 / -1 )

Did anyone really ever think they wouldn’t teach a compromise? Apart from Yrral that is. Even if it had gone over the ‘end’ date, it would been sorted shortly thereafter. 50+ wasted comments above, especially the partisan ones.

1 ( +3 / -2 )

I guess from this poster's perspective, Peter and Paul are Trump and McCarthy...

No, they’re Dems and socialist Dems

The two sides had struggled to find common ground on spending levels. Republicans had pushed for an 8% cut to discretionary spending in the next fiscal year, followed by annual increases of 1% for several years.

Biden had proposed keeping spending flat in the 2024 fiscal year, which starts Oct. 1, and raising it 1% the year after that. He also had called for closing some tax loopholes, which Republicans rejected.

https://www.msn.com/en-us/news/politics/biden-mccarthy-have-tentative-us-debt-ceiling-deal/ar-AA1bMLmo

Again, you can’t get always what you want, neither side will.

-6 ( +2 / -8 )

Evil work requirements better be time limited. People down on their luck don't need to be harassed by the government considering how little the benefits are.

3 ( +5 / -2 )

And spending on future budgets is not the same as repayment of past debts legally incurred. 

The US is spending more than we are taking in, hate to tell it to you, the food and beverage industry won’t help to lower the debt. Maybe we should invest more in education, clearly the lefts woke education curriculum is not producing the next generation of creators.

https://www.forbes.com/sites/michaeltnietzel/2021/03/25/updated-report-shows-unprecedented-decline-in-high-school-graduates-enrolling-in-college-last-fall/?sh=2dfea68768b1

2 things that escape your pamphlet-level understanding.

Not mine, I think it’s the other way around.

But what can one expect from one that is ok with welcoming on legitimate debt?

As if the left even care, it’s someone else’s money so no worries, right? This is why I love entrepreneurship, you get to make your own money.

-7 ( +2 / -9 )

“Welch on a legitimate debt”

damn autocorrect.

1 ( +3 / -2 )

When I reduce my spending, I spend less money. .When the governmemt reduces spending, it still spends more, but less than a far larger amount that it wanted do spend..So if the government wanted to go into debt a $3 trillion more, but only went into debt $2 trillion more, then the government thinks that it has cut its spending, even though it will spend $2 trillion more than it did before. Geez, uneducated drug dealers understand this, you don’t need a college degree to understand this. But again, the libs don’t get it, it’s not their money, robbing Paul to give to Peter is their gold standard mantra they live by.

I guess these "Libs" didn't understand this either...

"In 2017, 2018, and 2019 during the Trump administration, the debt limit was reset at $20.5 trillion, $22 trillion and $28.4 trillion, respectively. NONE of these bills, when signed into law, contained a precondition to cut spending. McCarthy voted FOR each of these bills."

Since these bills didn't have any mandated spending cuts, the Trump administration and the Republicans in the House and Senate INCREASED the federal debt by $7.8 trillion over these four years.

I guess from this poster's perspective, Peter and Paul are Trump and McCarthy...

In fact, "Using the same methodology, former President Barack Obama added $5 trillion in legislative costs over a decade, while former President George W. Bush added $6.9 trillion. Not only did Trump sign more ten-year debt into law than his immediate predecessors, he also did it in just a single four-year presidential term, compared to his predecessors’ eight years in the Oval Office."

Hypocrite - thy name is Republican...

2 ( +4 / -2 )

Why do Republicans spend more than Democrats?

Budget deficits under Republican Presidents have been $4 trillion more than under Democratic Presidents.

http://presidentialdata.org/

5 ( +7 / -2 )

Again, both sides didn’t get what they wanted, so I would say, “he dug in his heels”

Id say he got an ass-kicking. By the hang-dog look on his face along the 7 seconds he spent in front of the mike, I’d say he thinks so too.

1 ( +4 / -3 )

Microeconomic spending (you) and Macroeconomic policy ( the United States) are not analogous.

And spending on future budgets is not the same as repayment of past debts legally incurred.

2 things that escape your pamphlet-level understanding.

But what can one expect from one that is ok with welcoming on legitimate debt?

1 ( +4 / -3 )

When I reduce my spending, I spend less money. .When the governmemt reduces spending, it still spends more, but less than a far larger amount that it wanted do spend..So if the government wanted to go into debt a $3 trillion more, but only went into debt $2 trillion more, then the government thinks that it has cut its spending, even though it will spend $2 trillion more than it did before. Geez, uneducated drug dealers understand this, you don’t need a college degree to understand this. But again, the libs don’t get it, it’s not their money, robbing Paul to give to Peter is their gold standard mantra they live by.

-7 ( +2 / -9 )

Last week you were saying ‘never capitulate never give in’

Still holds

What happened?

Nothing, neither side got all that they wanted.

Your feeble attempts at hostage taking and failed

Not really

You gave it the ole (Junior) College try,

Not sure what that means, but if that makes you smile, whatever…lol

Kevin. Kevin happened lol.

Great!!!

I think you mistook ‘digging in heels’ for ‘dragging heels’. 

Very different.

Again, both sides didn’t get what they wanted, so I would say, “he dug in his heels”

-6 ( +3 / -9 )

I think you mistook ‘digging in heels’ for ‘dragging heels’.

Very different.

1 ( +3 / -2 )

Obviously they will have to compromise on something, 

Last week you were saying ‘never capitulate never give in’

What happened?

Kevin. Kevin happened lol.

-1 ( +2 / -3 )

Good news for USD, not for Yen, as rates clearly drifting up and recall this spending for next budget year starts Oct 1st. US consumer and business sentiment regarding US economy = Not Good due to entrenched inflation.

These Govt. spending caps will help to reset inflation expectations likely a little lower, as real discretionary spending will be negative on an inflation adjusted basis, especially as US population's increasing unlike Japan.

-5 ( +0 / -5 )

Obviously they will have to compromise on something, 

Last week you were saying ‘never capitulate never give in’

What happened?

3 ( +4 / -1 )

But of course you think it’s funny, to libs it’s all a game nothing more.

From the guy who said “We hold the purse strings. Hostage taking is just fine when it’s not a GQP admin.” this is too funny.

You should take this material on the road, B!

2 ( +4 / -2 )

based on your previous statements, you did a 180 on the notion of compromising.

No.

And when the far right tries to blow up this bill, you won't tell them to compromise.

Within reason.

And you'll do another 180 and support them

No.

-5 ( +2 / -7 )

Bass, based on your previous statements, you did a 180 on the notion of compromising. And when the far right tries to blow up this bill, you won't tell them to compromise. And you'll do another 180 and support them.

4 ( +6 / -2 )

Tell that to the far right crazies. And based on your previous "no comprimise" statements, yourself.

Wait, do you think because the far-left enjoyed spending other peoples money that’s not a crazy thing? Are you serious?

-4 ( +4 / -8 )

And defense spending is not capped. 

Sorry Sinophiles.

But of course you think it’s funny, to libs it’s all a game nothing more.

Let the Government default and start over.Raise the interest rates to pay off the debt and balance the budget and then pass a balanced budget amendment to the constitution that each year the country has to have a balanced budget.

-5 ( +3 / -8 )

Bass: Obviously they will have to compromise

Tell that to the far right crazies. And based on your previous "no comprimise" statements, yourself.

8 ( +10 / -2 )

This is a great example of black humor, a joke played on the American people by the corporate shill GOP.

GOP corporate shill, from when? 1987?

1987? No, Jan 2023 just four months ago....

In an interview last week with the conservative Daily Caller website, Gaetz said: “I think he’s just a shill of the establishment. I think that Kevin McCarthy is little more than a vessel through which lobbyists and special interests operate.”

https://www.japantimes.co.jp/news/2023/01/03/world/mccarthy-struggles-us-congress/

As someone would say, BINGO!

3 ( +5 / -2 )

And defense spending is not capped.

Sorry Sinophiles.

2 ( +5 / -3 )

The big question now is, will the Kook Caucus be placated by this theater or will they revolt?

I think they'll revolt, and Part II of Biden and McConnell's plan will kick in, where all the Dems and the RINO moderates will join together and pass this deal...leaving MAGA-world with another "loss"

Yep. This is the deal, children. Take it or take it. Your choice.

1 ( +4 / -3 )

I have to admit, this looks to have played out exactly I as thought....

Biden and McConnell worked out a deal weeks ago to ensure no default - and told McCarthy they would play along with his "theater" of pauses, rants, and "no's"...so he could be seen by the MAGA-maniacs as fighting the good MAGA fight....but it was all nothing but a scripted reality TV show....

The big question now is, will the Kook Caucus be placated by this theater or will they revolt?

I think they'll revolt, and Part II of Biden and McConnell's plan will kick in, where all the Dems and the RINO moderates will join together and pass this deal...leaving MAGA-world with another "loss"...just like 2018, 2020, and 2022...

And as it only takes one Crazy Repub to file a motion to vacate, McCarthy gets to move on from this to a new challenge to his speakership...and another Repub internal war...

Should be entertaining...just like "the Groomer" vs "the Fauci-lover"....

ROFL...

4 ( +7 / -3 )

Good news as discretionary and defense spending caps will be far below inflation, so real inflation adjusted reductions.

Unfortunately, US Govt. tax receipts continue to accelerate to downside/shrink year over year with Corp. bankruptcies increasing, so US Govt. deficit likely continues to remain MULTI TRILLION DOLLARS

US private sector GDP, likely for 4Q and 1Q, approx. (3%), so massive Govt. deficit spending thus far keeping US out of technical recession but not for long as rates rise, given entrenched 'sticky' inflation.

Biden's approval record low, low 30's, at 1.5 years from next election, seems no big Govt. spending catalyst to save the day given this agreement.

-11 ( +1 / -12 )

Good thing they held off that time until the end of the Trump administration when they raised the debt ceiling 3 times. 

Feeble humor failed attempt

And welcome to MAGA-world where facts are looked on as "humor'....

Fact: "In 2017, 2018, and 2019 during the Trump administration, the debt limit was reset at $20.5 trillion, $22 trillion and $28.4 trillion, respectively. NONE of these bills, when signed into law, contained a precondition to cut spending. McCarthy voted FOR each of these bills."

More facts:

Trump 2019: “That’s a very, very sacred thing in our country, debt ceiling. We can never play with it." “I can’t imagine anybody ever even thinking of using the debt ceiling as a negotiating wedge,” 

Trump 2023: “I say to the Republicans out there – congressmen, senators – if they don't give you massive cuts, you're going to have to do a default, and I don't believe they're going to do a default because I think the Democrats will absolutely cave, will absolutely cave because you don't want to have that happen.

MAGA-world prefers to live in fantasy rather than fact-based reality...

6 ( +8 / -2 )

“Deflection from failure”

Music:K McCarthy

Lyrics: B F Funk

With a special appearance by the “Freedumb” caucus choir boys and their holier than thou rendition of “Not what we were promised!”

5 ( +8 / -3 )

Restraint on Republican pork

Obviously they will have to compromise on something, but if cuts are made, work requirements are included, and thousands of new IRS agents are cut out, he will achieved quite a bit. So yeah, I’m definitely good.

None of that is true.

Over 10 years there will be new employees of the IRS not all agents. Also to replace retiring people.

7 ( +10 / -3 )

Cloaking a blatant falsehood about a historical fact about the debt negotiations under Trump as "humor" is the definition of weak sauce. 

I doubt anyone is laughing

*Republican "Limit, Save, Grow Act"**

This is a great example of black humor, a joke played on the American people by the corporate shill GOP.

GOP corporate shill, from when? 1987?

-10 ( +3 / -13 )

Good thing they held off that time until the end of the Trump administration when they raised the debt ceiling 3 times. 

Feeble humor failed attempt

Not as feeble as the one joke alt-right.

https://www.theguardian.com/technology/2017/may/23/alt-right-online-humor-as-a-weapon-facism

Cloaking a blatant falsehood about a historical fact about the debt negotiations under Trump as "humor" is the definition of weak sauce.

Republican "Limit, Save, Grow Act"*

This is a great example of black humor, a joke played on the American people by the corporate shill GOP.

8 ( +11 / -3 )

Obviously they will have to compromise on something, but if cuts are made, work requirements are included, and thousands of new IRS agents are cut out, he will achieved quite a bit. So yeah, I’m definitely good.

-8 ( +5 / -13 )

The big spending cuts Republicans wanted are not there, according to reports, but effectively a budget freeze will take effect. There will also be tougher rules on accessing unemployment benefits and other federal assistance.

Uh-oh, stand by for the MAGA-mutiny....

You have to love our MAGA friends continually flip-flopping take on McCarthy...

Jan 2020 when he said; “The president bears responsibility for Wednesday’s attack on Congress by mob rioters.  He should have immediately denounced the mob when he saw what was unfolding. These facts require immediate action by President Trump.”

"Nothing but RINO scum"...(our MAGA-friends here)...

Jan 2023 during his election for Speakership...

"He's a shill for the establishment" (Gaetz)...

May 2023 during the debt limit...

"A MAGA hero fighting for fiscal responsibility"....(our MAGA friends here)....

June 2023 after this deal is announced...

"A back-stabbing RINO traitor"...(the Freedom "Kook" Caucus).....

ROFL....Welcome to MAGA-world...

4 ( +8 / -4 )

This weak deflection is the very definition of “Feeble”, lol.

No, no deflection, I meant what I said, failed humor attempt

-11 ( +3 / -14 )

You still loving Kevin, there B? 

Absolutely, EFD!

He got none of the things you were rooting for. His hostage taking didn’t work. 

And Biden didn’t get all the things he really wanted, that’s how the cookie crumbles.

And when faced with the cliff, he blinked. 

No, he didn’t.

But still your boo, correct?

Yup!

I’m just glad that he didn’t paint like John Boehner or Paul Ryan, It’s not everything I wanted, but definitely more than I had predicted.

-11 ( +3 / -14 )

Good thing they held off that time until the end of the Trump administration when they raised the debt ceiling 3 times. 

Feeble humor failed attempt

This weak deflection is the very definition of “Feeble”, lol.

3 ( +9 / -6 )

Great negotiation by McCarthy.

-10 ( +2 / -12 )

Good job, President Biden and Speaker McCarthy. This seems to be a deal we can live with.

6 ( +7 / -1 )

You still loving Kevin, there B?

He got none of the things you were rooting for. His hostage taking didn’t work.

And when faced with the cliff, he blinked.

But still your boo, correct?

4 ( +10 / -6 )

So after hiking the world economy hostage, threatening economic collapse and endangering the dollar as a world reserved currency, Kevin settles for “essentially flat” 24 spending. Well done, Kevin….

Oh! And the already in place work requirements for some social programs go from something like 46 years old to 54 years old. Score! (Slow Clap).

The debt ceiling is raised for 2 years taking it off the table until after the next election, and since spending in the aggregate for next FY is set, no government shutdown this fall while the Freedumb caucus has its obligatory hissy fit. Double win for sanity.

The inflation reduction act is untouched and the ginormous cuts to discretionary programs that the GQP demanded are nowhere to be found.

In short, Biden was the responsible parent and saved the economy while not giving in to domestic economic terrorism. Proving once again that Joe gets it done.

The crazies got the shaft.

Kevin looked so pleased with himself, one could be forgiven for thinking he’d just been given a terminal diagnosis.

4 ( +9 / -5 )

For the Republican party, it is always time to institute austerity and make the lives of America's many working poor harder. 

Actually, the Democrat's policies are what are making the lives of the average American harder.

Good thing they held off that time until the end of the Trump administration when they raised the debt ceiling 3 times. 

Feeble humor failed attempt

And passed massive tax cuts for corporations and the .01% and lavish corporate welfare. 

And the rich will still be wealthy that is thankfully not going to change.

That Freedom caucus is composed of mentally-unstable corporate shills,

Hardly, most of the mentally-unstable corporate shills are and vote mostly Democrat.

whose names are often in the media for their unhinged antics and tenuous hold on reality.

Yeah? Lol

-12 ( +5 / -17 )

Should be fun to see the reactions over the next few days. Hopefully something will pass.

10 ( +11 / -1 )

Not much chance of it passing. The radicals of the Republicans are happy to put the country in default. They want that. They think it’s funny and can tweet and yell about it, using it as an election slogan. They think the people want a default, they’re that dumb.

I think Trump is behind their total lack of statesmanship and pulling their strings.

7 ( +13 / -6 )

This year, Republicans demanded deep spending cuts -- largely in social spending for the poor -- in return for raising the debt ceiling, saying the time had come for bitter medicine to address the country's mammoth $31 trillion debt.

For the Republican party, it is always time to institute austerity and make the lives of America's many working poor harder.

Good thing they held off that time until the end of the Trump administration when they raised the debt ceiling 3 times.

And passed massive tax cuts for corporations and the .01% and lavish corporate welfare.

https://www.nbcnews.com/business/taxes/twice-many-companies-paying-zero-taxes-under-trump-tax-plan-n993046

but the deal is likely to face opposition from 35 far-right lawmakers who told him to "hold the line" against compromising on far more sweeping spending cuts

That Freedom caucus is composed of mentally-unstable corporate shills, whose names are often in the media for their unhinged antics and tenuous hold on reality.

9 ( +16 / -7 )

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