1 / 2Congress Russia ProbeSpeaker of the House Nancy Pelosi, D-Calif., reflects on President Donald Trump's statement that he would accept assistance from a foreign power, saying it's so against any sense of decency, during a news conference on Capitol Hill in Washington, Thursday, June 13, 2019. An avid sports fan, Pelosi is wearing the colors of the Golden State Warriors colors, a gold jacket with blue pants.
"When we lift the caps then we can talk about lifting the debt ceiling — that would have to come second or simultaneous, but not before lifting the caps," Pelosi told reporters. Probably most important is to increase the government's almost $22 trillion debt so that it can borrow money from investors and foreign countries such as China to redeem government bonds, pay benefits such as Social Security, and issue paychecks to federal workers. Treasury is using a familiar set of bookkeeping tricks to stay within the existing debt limit but Congress has to act by mid-fall to avoid a first-ever default.
Any budget deal would represent the fifth two-year budget agreement since a 2011 budget and debt bill set the stage for much-reviled automatic cuts known as sequestration. Without an agreement, government-wide automatic cuts of $125 billion would slap both the military and domestic agencies.
When Nancy uses her hand to emphasize her opinions, she reminds me of Mussolini.
That’s what I’m talking about. Don’t threaten me with a good time. You go Nancy.