If House Speaker Kevin McCarthy, a Republican from California, were to reach a compromise with Democrats, far-right members of his own party could either block a vote or remove him as speaker.
McCarthy was forced to bow to many of those Republicans’ demands in order to secure the speakership on 15 ballots — the longest contest since before the Civil War. “McCarthy's concessions to the far right in that process will leave him as the weakest speaker in generations and likely lead to the most dangerous game of budget brinkmanship in Washington since 2011,” Ritz wrote. “Leaders across both parties must work quickly to avoid an unprecedented debt default disaster.”
Ideally, policymakers avoid an impasse by negotiating to raise or reform the federal debt limit, and separately enact a sound bipartisan plan to get the nation’s debt under control.
Now we watch them print more money, duh
Okay you Constitutional experts, how does Section 4 of the 14th Amendment figure into this?
Hyperinflation, the likes of which the world has never seen!
Stop Spending Now.
US has 120% debt against its GDP. Which is huge!
Poor people starve. That's what now.
Confirm there is gold in Fort Knox; it’s only been 80 years.
Take away funding for migrants. That would free up a lot of money.
Cut the government in half.
Cut the salary and benefits of all Congressmen and Senators, shut down the Dept. of Education and reduce the budgets of all government agencies by 20%.
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What to know about extraordinary measures as debt ceiling hitThe Treasury Department is instituting a 'debt issuance suspension period' starting today and running through June 5, Secretary Janet Yellen says. 'The period of time that extraordinary measures may last is subject to considerable uncertainty.' The Treasury will also not be able to fulfill certain investments, including to the Civil Service Retirement and Disability Fund. Looks like bonds aren’t as risk free is as they are portrayed Yeah, taking from retirement funds instead of decreasing the military budget... I hate it here.
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