Posted on 09/07/2017 10:42:02 AM PDT by Mariner
President Trump and Senate Minority Leader Charles E. Schumer (D-N.Y.) have agreed to pursue a deal that would permanently remove the requirement that Congress repeatedly raise the debt ceiling, three people familiar with the decision said.
Trump and Schumer discussed the idea Wednesday during an Oval Office meeting. The two, along with House Minority Leader Nancy Pelosi (D–Calif.), agreed to work together over the next several months to try to finalize a plan, which would need to be approved by Congress.
One of the people familiar described it as a “gentlemen’s agreement.”
Senate Democrats hope they will be able to finalize an arrangement with Trump by December.
“The president encouraged congressional leaders to find a more permanent solution to the debt ceiling so the vote is not so frequently politicized,” White House press secretary Sarah Huckabee Sanders said.
(Excerpt) Read more at washingtonpost.com ...
If this is true, Trump is screwing the people who put him in office.
But this from the WaPo, so it could be BS....I hope it is BS
We are in a position where we are going to have to continue deficit spending in the short term.
The momentum built up by the last three presidents was massive.
When government revenue goes up and it’s welfare outlays decline, the deficit starts declining, I’m all for enacting a law against deficit spending.
Ideally I’d like the federal deficit reduced to at least $15 trillion by the time Trump leaves office.
It could be done if Congress would implement his policies.
If they don’t, our nation will have been betrayed more than at any other time in our history.
I can’t even IMAGINE what McConnell said to Trump on Tuesday to piss him off THIS much. He and Ryan must have really overplayed their hands.
Mitch the Senate is a neutered/spade dog. He pretends much, but performs little... Allowing the brain impaired lord McCain to vote against his oath of office in the ending of the strangle hold called Obamacare was NOT Mitch's brightest moment. The club of 100 is a curse on 'we the people'... Why not deal directly with the devils instead.
So Trump and Schumer are working on The Venezuela Plan.
Yes, much better for the American people when the govt is shut down...should never be easy to raise the debt ceiling
Congress always finds a reason to raise the debt ceiling and they never cut the waste.
“It’s meaningless theater and hasn’t stopped the GOPe and Democrats from stealing a fortune.”
Wasn’t this exactly what we elected President Trump for, though? To be the master deal-maker who would finally convert this sort of leverage into tangible action?
IMO he’s maybe a little too focused on battling with McConnell & Ryan. Even though it hasn’t proved particularly effective, I really can’t see how removing one of the few mechanisms of restraint on spending serves to MAGA.
Wasn’t this exactly what we elected President Trump for, though? To be the master deal-maker who would finally convert this sort of leverage into tangible action?
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I elected him because he was and is a trillion times better than Hillary. Keeping her and her sink molesting husband out of the WH may be the greatest accomplishment of all time.
Look at the garbage Trump has had to endure. He’s surrounded by crooks on all sides. He’s a 70 year old billionaire with a beautiful wife and wonderful family. Imagine how he could have enjoyed life instead of fighting for us.
This is a very bad idea. We’re 20 trillion in debt already. The last thing we need is more debt.
This just locks in borrow and spend, bypassing the objections of the few constitutionalists who remain, and eliminating any effort to stop the debt spiral. That, in turn, institutionalizes and locks in Big Government in all its worst aspects.
Ah, but the Congress CAN set rules for itself. And the only branch of government that says you cannot reduce their pay is the judiciary.
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Article I, Section 8 of the Constitution says only Congress can borrow money on the credit of the United States. Approval has to be granted by Congress in some fashion, and if not through a debt limit then I don’t know how they would do it.
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And why the debate is lost from word one. One must broaden the context before the truth emerges.
Congress CAN borrow money...for that which it is AUTHORIZED to do so. 99% of said ‘debt’ (let alone the $120T+ in ‘unfunded liabilities’) null and void, for falling outside of scope of A1S8.
Course, that would be if we were a Constitutional Republic still, instead of just re-arranging deck-chairs on the sinking Titanic.
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It’s become useless as a tool.
But at least it gets the debt into the public awareness despite the media’s inclination to ignore it.
The media wants the government to borrow and give the money to their advertisers’ customers so the media profits.
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Public awareness? Does another think the public *cares* about $20T+ debt and $120T+ in unfunded liabilities (Oh, that latter is NEVER brought up now, is it?)?
John Q. Public thinks NOTHING of passing the bill down to their own progeny even.
You want it in the ‘public eye’, send a bill to be paid *IMMEDIATELY* to each and every adult, including the tab laid upon their children, for their portion of the debt & liabilities. THAT’LL wake ‘em the FARK up.
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If it was not raised, there would be huge shocks as the govt would have to immediately cut $250B in spending. As most spending is on autopilot, those cuts would be forced onto a relatively small portion of the govt. It would cause huge problems. Maybe you don’t care about it, but most others do. And that’s just for today. If interest rates climb up, the debt service cost will soar, making things much worse budget wise.
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Oh, NO’s! Fedzilla would have to enter the REAL WORLD of economics?? Quelle horreur!!
Please list a few of these ‘most others do’, please. I’d suspect the only ones that would care are those that have hitched their wagon to the taxpayer gravy-train (welfare, cronies, etc.). Fedzilla sure doesn’t do much of a damn in MY life
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Now if we can’t even stop spending more than we take in, we are already conceding the debt will never be paid. Are we not already Greece? We are only postponing the day the SHTF, but we are already hopeless no?
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$120T+ in unfunded liab. Anyone thinking it CAN be paid off is more than naive.
You’re right on the last point, it IS hopeless. The Public has found they can raid the Treasury and the pols are more than happy to do so for the prestige and power; children BORN into economic slavery, the Constitution all but beaten, abused and ignored. The great old, dying, Republic didn’t even last the 200yr average.
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Missouri, a heavily republican state, has a balanced budget requirement. There is no debt ceiling since deficit spending is against the law. It’s really quite simple, and is called fiscal responsibility.
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IMO, the ‘simplicity’ isn’t fiscal responsibility. Wouldn’t be NEEDED if govt followed the Constitution.
A BBA has only one ‘definition’: Raise taxes until it covers any/all spending.
F.R. would necessitate govt acknowledge the TAXPAYERS in any capacity OTHER than as a piggy-bank. They may *talk* up that angle, but their actions prove otherwise.
If I understand you clearly, you’re stating that a BBA may or may not actually mean what most people think.
You could raise taxes to balance the budget, but most folks wouldn’t see that as meeting the spirit of the law.
I would agree with that.
What I was trying to convey earlier is that after years of folks spending like a drunken Democrat, we can’t place a Conservative in there and have them simply refuse to pay our bills because we want to stop deficit spending.
It takes time, and would necessitate increased federal revenue, reduced federal spending, and more fiscal responsibility over time.
I submit it can be done, but not with two party leaderships fighting the only man with a real plan.
We can’t blame Trump for not getting things back in order if Congress won’t work with him.
He can’t cut taxes on his own, sparking the economy and facilitating massive increases in jobs for the nation’s citizens. We can’t blame him if he can’t make a sharp impact on welfare outlays if Congress gets timid.
Both parties are fighting Trump stronger than either of them ever fought Obama or Clinton.
As a man that voted for Trump, I know what is going on here. If Republican and Democrat leadership think they’re getting away with something, I’ve got news for them!
Further, if the Republican’s destroy Trump’s ability to get anything done in his first term, I’d support him getting a third term to make up for it, if he could physically remain sound and effective.
As far as I am concerned, the Republican party is dead to me.
There is a problem here though. It would be worse with a Democrat Congress. We can’t lose our heads here and not vote, or vote for Democrats.
The primaries are the time to rid ourselves of RINOs, and if we don’t get organized and do it in 2018, we don’t deserve to have our nation returned to sound fiscal policy.
I’m not arguing with u about a balanced budget. I’m just looking at it from the real world of politicians giving voters what they want. Hell most ppl want the dreamers to stay, most ppl think denying ppl for pre-existing medical conditions is bad. The majority vote based on their feelings, without any idea or care that things cost money and somewhere, somebody is going to pay the cost.
Show me a state that has better accountability to the electorate. Look just east of Missouri at Illinois.
Show me a state that has better accountability to the electorate. Look just east of Missouri at Illinois.
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