The U.S. has hit the debt limit. Now what?

on Thursday. Lawmakers must reach an agreement to either raise or suspend the debt limit to avoid a credit default, which would mean the government couldn't pay its bills and would default on its debt obligations for the first time ever.

In recent decades, Republicans have used the debt ceiling as a tool to push for spending cuts, arguing that the nation needs to rein in wasteful spending. Democrats liken these tactics to hostage taking and accuse GOP lawmakers of manufacturing a crisis. Another option floated by some policymakers is a clean debt ceiling bill that includes the creation of a committee to recommend improvements to tax and spending policy going forward and address putting the U.S. on a more sustainable fiscal path. But House Speaker Kevin McCarthy signaled this week he will seek legislation that addresses both the debt limit and spending.

This week House Minority Leader Hakeem Jeffries said"reasonable Republicans" need to emerge to avoid a default. While some Democrats have signaled the party should not negotiate, others have signaled a willingness to discuss some spending cuts, Democrats have drawn a hard line that they will not jeopardize priorities such as Medicare, Social Security or national security.

Bless

Not the first time will never be the last time! You disappoint me CBS!

Give more money to Ukraine?

Borrow money from H Biden and Uncles.

Ignore the debt ceiling because the spending has already been authorized.

either pay me or cancel ALL FRAUD DEBT NATIONWIDE

1. Stop laundering money in Ukraine

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Debt Ceiling Looms Over Capitol as Congress Returns to WorkA deeply divided Congress returns to work this week, pushing ahead with partisan priorities while also gearing up for a fight over raising the debt ceiling Congress should be deeply divided. Generally, Dems are fiscally irresponsible on purpose, they're Socialists. Research the Cloward Piven Strategy. JFYI Gotta love Biden's threats about not negotiating with the people responsible for the purse strings. I'd cut the executive branch's money off until he did negotiate. Biden is so used to being a punk it's time for some real push back to let him know he's not our ruler. Trade raising debt ceiling for agreement on spending cap 1 - 2 points higher than current spending % of GDP. Hard to vote against spending caps that don’t force any spending reductions today. Gives weak people no choice but to make hard choices not made in years.
Source: WSJ - 🏆 98. / 63 Read more »