McCarthy Plans To Cut Debt By Gutting Funds For Veterans

[ALF]

Did Trump and republicans want spending cuts each time they raised the debt ceiling and massive tax cut that raised the deficit 

[Tiberius]

14 hours ago, ALF said:

Did Trump and republicans want spending cuts each time they raised the debt ceiling and massive tax cut that raised the deficit 

Nope 

[BillStime]

 

[B-Man]

 

 

 

BACK TO THE THREAD.

 

 

 

The Great Debt Ceiling Deceit

Issues & Insights, by The Editorial Board

 

At the heart of all fearmongering over the debt ceiling “crisis” is the claim that if the federal government can’t borrow more money it won’t be able to pay interest on its existing debt, leading to a default. But that’s poppycock. The government will collect more than a trillion dollars over the next three months. (It collected $638 billion in taxes in April alone.) That will be more than enough to pay interest on the debt. And it will be enough to pay all Social Security benefits, Medicare and Medicaid bills, welfare checks, food stamps. 

 

 

 

 

https://issuesinsights.com/2023/05/15/the-great-debt-ceiling-deceit/

 

 

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[B-Man]

 

 

 

TRUTH.

 

 

 

 

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[ALF]

Biden wants to reduce tax loopholes to reduce deficit , GOP said naw

[B-Man]

15 minutes ago, ALF said:

Biden wants to reduce tax loopholes to reduce deficit , GOP said naw

 

 

You mean "Tax the rich more" what a new and novel approach..

 

It's not the tax revenue problem,  it is a SPENDING ISSUE.

 

 

 

The White House recently gave Republican congressional leadership a list of proposals to reduce the deficit by closing tax loopholes during the ongoing negotiations over the federal budget and the debt ceiling. But Republican negotiators rejected every item, according to three people familiar with the matter, who spoke on the condition of anonymity to describe confidential deliberations.

 

On a phone call last week, senior White House officials floated about a dozen tax plans to reduce the deficit as part of a broader budget agreement with House Republicans, including a measure aimed at cryptocurrency transactions and another for large real estate investors, two of the people said. They were all swiftly rejected by the GOP aides on the call, the people said.

 

{snip}

 

Rep. Dusty Johnson (S.D.), a leader of the House GOP’s moderate faction, told reporters Thursday that House Republicans have only two “red lines” in the negotiations, one of which is that the deal not include tax increases. (The other is for the debt ceiling increase to not be “clean,” meaning Republicans will insist on some concessions.)

 

Policy experts sharply diverge on the extent to which new revenue is needed to reduce the deficit. Congressional Republicans have been adamant that the U.S. deficit was caused by rising spending, pointing to trillions of dollars in higher federal outlays during the pandemic.

 

“Despite the federal government collecting as much in taxes from American families as at any point in our history, federal spending is rising even faster and our debt is soaring,” McCarthy and other GOP leaders said in a statement this spring. 

 

https://www.washingtonpost.com/business/2023/05/15/debt-ceiling-negotiations-deadline-default/

 

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[ALF]

Warren Buffett said the tax loopholes he and Trump have are a disgrace and unfair.

[All_Pro_Bills]

On 5/15/2023 at 5:47 AM, BillStime said:

 

Its a clever strategy.  The thinking is.  You want something from somebody.  Which in this case is Republican members of the House to defect from the Speakers position on the debt ceiling.  That position being cuts to the budget are a condition of passing the increase in the debt limit.  You don't want any conditions.  The President wants a clean debt limit and compromising while providing the opposition a win in the House is out of the question.  A win-lose is the only option for the administration.  Of course with them getting the "win"

 

So you identify one thing to focus on from the 1,000's of things that will appeal to the senses and priories of  those representatives you want to turn.  In this case veterans benefits.  You don't care one way or the other about maintaining spending for veterans benefits but you're counting on the idea those representatives do and that they can be pressured to cave in to protect spending on this one thing that will give you free spending power over the other things among the 1,000's you find important to your priorities. 

[John from Riverside]

I’m just kind of surprised that the Republicans would take such a big chunk out of the veterans whom they claim to support

 

Myself being a veteran cutting anything regarding Veterans out of the budget sucks can we just not make a couple more missiles and tanks?  I realize it’s not as simple as that, but the military industrial complex does gouge the ***** out of the budget and I know this because I used to buy stuff

[Roundybout]

Why are we keeping these again?

[Tiberius]

A group of Senate Democrats is circulating a letter urging President Biden to prepare to invoke the 14th Amendment to unilaterally resolve the debt ceiling standoff without involving Congress, according to a copy obtained by The Washington Post ahead of its release.

The letter, signed by five senators so far, reflects building unease among White House allies over the direction of negotiations between the president and House Speaker Kevin McCarthy (R-Calif.) on an agreement expected to cut the deficit and raise the debt limit. Liberal lawmakers have balked as Biden entertains spending cuts and new work requirements on federal aid programs — fueling interest in a solution to the standoff that does not require a deal with McCarthy. The effort comes as House Democrats start to collect signatures for a discharge petition to move legislation that would raise the debt ceiling without any other policy changes, a long-shot procedural move aimed at bypassing the chamber’s Republican leaders.

https://www.washingtonpost.com/politics/2023/05/17/debt-ceiling-democrats-discharge-petition/

2 hours ago, Roundybout said:

Why are we keeping these again?

So that the GOP can claim we need to cut spending on things that help the American people 

[BillStime]

2 minutes ago, Tiberius said:

A group of Senate Democrats is circulating a letter urging President Biden to prepare to invoke the 14th Amendment to unilaterally resolve the debt ceiling standoff without involving Congress, according to a copy obtained by The Washington Post ahead of its release.

The letter, signed by five senators so far, reflects building unease among White House allies over the direction of negotiations between the president and House Speaker Kevin McCarthy (R-Calif.) on an agreement expected to cut the deficit and raise the debt limit. Liberal lawmakers have balked as Biden entertains spending cuts and new work requirements on federal aid programs — fueling interest in a solution to the standoff that does not require a deal with McCarthy. The effort comes as House Democrats start to collect signatures for a discharge petition to move legislation that would raise the debt ceiling without any other policy changes, a long-shot procedural move aimed at bypassing the chamber’s Republican leaders.

Why not? 
 

The GQP has bastardized the Second Amendment - I see no reason why Biden can’t use the 14th amendment. 
 

You know Trump would.

[Tiberius]

3 minutes ago, BillStime said:

Why not? 
 

The GQP has bastardized the Second Amendment - I see no reason why Biden can’t use the 14th amendment. 
 

You know Trump would.

Yup, put that baby to bed! 

[BillStime]

16 minutes ago, Tiberius said:

Yup, put that baby to bed! 

Yup - and let the MAGA tears flow baby 

[Over 29 years of fanhood]

On 5/16/2023 at 9:54 AM, ALF said:

Warren Buffett said the tax loopholes he and Trump have are a disgrace and unfair.

Have you never found it odd that he vehemently supports democrats, funds them while he gripes about his lack of taxation, then when they win he still has these tax loopholes?? Do you think he is forced to exploit the loopholes? Do you think he’s buying these Democrats because he hopes they tax him more? 😂 

[Over 29 years of fanhood]

3 hours ago, Roundybout said:

Why are we keeping these again?

why don’t you donate more of your paycheck

to the government? 
 

Silly.. Taxing people less doesn’t create debt. Spending money you don’t have creates debt. 
 

do they really need to spend 20 thousand dollars per citizen?

 

I am positive any person with an iota of business acumen could find a way to run a government on 2022’s 6.5 trillion dollars… 

[B-Man]

THE DEBT CEILING FIGHT: WHAT (OR WHO) WORKS?

 

Last week I predicted that the chief sticking point on a deal to raise the debt ceiling wouldn’t be any of the GOP demands for spending restraint, but rather the demand for new work requirements of able bodied welfare recipients.
 

Because the left views welfare and other income support programs as means of entitled redistribution without reciprocal obligation rather than relief from unfortunate circumstances, Democrats would resist

 

And sure enough:

Jeffries says work requirements are a ‘nonstarter’ in debt ceiling fight

The head of the House Democrats said this week that tougher work requirements for social benefits won’t fly with members of his caucus, setting the stage for a drag-out fight with GOP leaders who are insisting on those provisions as a condition of raising the debt ceiling.

House Minority Leader Hakeem Jeffries (D-N.Y.) on Monday night told members of the Democrats’ Steering and Policy Committee that “work requirements are a nonstarter” as bipartisan negotiators seek a deal to prevent a government default, according to a spokesperson.

 

https://www.powerlineblog.com/archives/2023/05/the-debt-ceiling-fight-what-or-who-works.phpi

[Over 29 years of fanhood]

15 minutes ago, B-Man said:

THE DEBT CEILING FIGHT: WHAT (OR WHO) WORKS?

 

Last week I predicted that the chief sticking point on a deal to raise the debt ceiling wouldn’t be any of the GOP demands for spending restraint, but rather the demand for new work requirements of able bodied welfare recipients.
 

Because the left views welfare and other income support programs as means of entitled redistribution without reciprocal obligation rather than relief from unfortunate circumstances, Democrats would resist

 

And sure enough:

Jeffries says work requirements are a ‘nonstarter’ in debt ceiling fight

The head of the House Democrats said this week that tougher work requirements for social benefits won’t fly with members of his caucus, setting the stage for a drag-out fight with GOP leaders who are insisting on those provisions as a condition of raising the debt ceiling.

House Minority Leader Hakeem Jeffries (D-N.Y.) on Monday night told members of the Democrats’ Steering and Policy Committee that “work requirements are a nonstarter” as bipartisan negotiators seek a deal to prevent a government default, according to a spokesperson.

 

https://www.powerlineblog.com/archives/2023/05/the-debt-ceiling-fight-what-or-who-works.phpi

Com on man! if people felt like working they wouldn’t be on welfare. 

[Unforgiven]

14 hours ago, Over 29 years of fanhood said:

why don’t you donate more of your paycheck

to the government? 
 

Silly.. Taxing people less doesn’t create debt. Spending money you don’t have creates debt. 
 

do they really need to spend 20 thousand dollars per citizen?

 

I am positive any person with an iota of business acumen could find a way to run a government on 2022’s 6.5 trillion dollars… 

 All you have to do is cut all the lefty voter bribes.