US failure to raise debt ceiling will crash markets...
#6

(02-05-2023, 12:55 PM)cityhantam Wrote:  When Trump was POTUS, Democrats controlled Congress played the same game. 


That is Assmerica!  Rotfl

During Trump time republicans controlled Congress and they pass debt ceiling

When someone else I'm hovt the Republican use debt ceiling as a tool.

The debt ceiling is go raise to pay  debt already incurred it is not for new debt.

A
Clarification below

During the Obama presidency, Republicans used the threat of the U.S. defaulting on its loans to force sharp budget cuts to nonmilitary spending. And now they’re set to do the same to President Joe Biden as Congress prepares to pass the cornerstone of his economic agenda.


However, when Donald Trump was in the White House, and the GOP controlled Congress, the debt ceiling apparently was less of a concern. The cap on government debt was boosted under Trump first in late 2017 for three months in a deal with the Democrats. That had to be raised again — thanks to the GOP’s huge tax cuts for the wealthy and businesses — as part of a broader spending bill he signed in 2018. Then, after Democrats took control of the House in 2019, Trump signed a budget that suspended the debt ceiling, then $22 trillion, entirely until this July.
[Image: n_tur_bblock_190723_1920x1080.jpg]
We’ve clearly passed that point on the calendar by now — and Republicans have suddenly started warning that they won’t support another boost to the debt ceiling. "I can't imagine there will be a single Republican voting to raise the debt ceiling after what we've been experiencing," Senate Minority Leader Mitch McConnell, R-Ky., told Punchbowl News in July.
Bear in mind that raising the debt ceiling doesn’t approve more spending or even endorse old spending — it just allows the U.S. to keep paying the debts that have already been incurred and raise more money to pay for federal appropriations. As of July 31, the total spending subject to the ceiling totaled about $28.5 trillion, according to a Congressional Budget Office estimate.

I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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Messages In This Thread
US failure to raise debt ceiling will crash markets... - by sgbuffett - 02-05-2023, 12:37 PM
RE: US failure to raise debt ceiling will crash markets... - by grotesqueness - 02-05-2023, 12:41 PM
RE: US failure to raise debt ceiling will crash markets... - by Niubee - 02-05-2023, 02:07 PM
RE: US failure to raise debt ceiling will crash markets... - by Alice Alicia - 02-05-2023, 12:44 PM
RE: US failure to raise debt ceiling will crash markets... - by RiseofAsia - 02-05-2023, 12:50 PM
RE: US failure to raise debt ceiling will crash markets... - by cityhantam - 02-05-2023, 12:55 PM
RE: US failure to raise debt ceiling will crash markets... - by sgbuffett - 02-05-2023, 01:05 PM
RE: US failure to raise debt ceiling will crash markets... - by cityhantam - 02-05-2023, 01:48 PM
RE: US failure to raise debt ceiling will crash markets... - by RichDad - 02-05-2023, 01:20 PM
RE: US failure to raise debt ceiling will crash markets... - by Tangsen - 02-05-2023, 01:20 PM
RE: US failure to raise debt ceiling will crash markets... - by grotesqueness - 02-05-2023, 01:57 PM
RE: US failure to raise debt ceiling will crash markets... - by sgh - 02-05-2023, 02:00 PM
RE: US failure to raise debt ceiling will crash markets... - by grotesqueness - 02-05-2023, 02:09 PM
RE: US failure to raise debt ceiling will crash markets... - by Tangsen - 02-05-2023, 02:37 PM
RE: US failure to raise debt ceiling will crash markets... - by grotesqueness - 02-05-2023, 04:27 PM
RE: US failure to raise debt ceiling will crash markets... - by winbig - 02-05-2023, 01:28 PM
RE: US failure to raise debt ceiling will crash markets... - by red3 - 02-05-2023, 01:59 PM
RE: US failure to raise debt ceiling will crash markets... - by mikotan - 02-05-2023, 02:09 PM

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