Posted on 05/10/2023 5:48:44 PM PDT by SeekAndFind
In a sharp reversal from what the White House was saying just a day prior, President Joe Biden indicated on Wednesday that he was willing to negotiate spending cuts in order to secure a debt ceiling increase.
That comes after weeks of insistence that he wouldn’t negotiate, even after House Republicans led by Speaker Kevin McCarthy passed a bill that would avoid a default (Townhall).
Speaking to reporters after an event in New York Wednesday afternoon, President Joe Biden indicated he’s willing to push aside his demands for a “clean” debt ceiling increase and negotiate spending cuts with lawmakers on Capitol Hill.
“Do you feel more optimistic about a deal today that you did yesterday?” a reporter asked.
“Sure,” Biden responded, adding that he wants to look at specific spending cuts Democrats and Republicans can agree on.
The President also said would [sic] consider skipping his planned trip to the G7 next week in Japan in order to get a deal done. He met with congressional leadership, including House Speaker Kevin McCarthy, at the White House Tuesday afternoon. Little movement came out of that meeting.
The caveat here is obvious. There is a long history of Biden saying something only to have the White House contradict him. In fact, that happened again just recently after the president announced a “major press conference,” only to have his comms staff correct him hours later.
Will that happen here? It’s impossible to say. Still, if Biden is actually returning to some semblance of sanity on the debt ceiling, that’s good news for the country. At this point, any deal that includes any concessions will be seen as a major win for McCarthy given the White House’s prior position of not negotiating.
This is a developing story and RedState will provide updates as they come in.
Once again...failure to raise the debt ceiling will NOT result in a US debt default.
Didn’t Jobama already say that a week or so ago and then reneged? Obozo must have set him strait on that one but chances are high that he’ll renege on this one too in a day or so.
I think this is propaganda and spin Reagan got promises from Democrats on spending 40 years ago that meant *hit.
Nothing has changed the US will get a higher debt ceiling there will be more spending things will get worse in this regard sad to say.
Guberment spending cuts add up to this.
They were going to increase spending by 100 trillion but now only by 80 trillion so they have cut spending by 20 trillion according to their thinking.
I will believe it when I see it.
Its a farce.
Republicans are horrible at adding to the debt. Bush and trump were incredibly irresponsible for the debt.
Here’s an idea, defund the entire executive branch (deep state central), starting with the drooling pedo in the white hospice.
“Republicans are horrible at adding to the debt. Bush and trump were incredibly irresponsible for the debt.”
The power of the purse lies with Congress under our Constitution and most of that power lies with the House of Representatives. All appropriations and tax bills must originate in the House. The president cannot spend a dime unless Congress appropriates the money.
As to discretionary spending by the president, the discretionary funds are appropriated by Congress and the executive branch is given by Congress the power to use its discretion as to how the funds are spent. The same with entitlement spending. Congress votes for the program and funds it (Social Security, welfare, etc).
The president’s has four specific requirements under the Constitution with respect to spending:
1). The president is required to submit an annual budget proposal to Congress. Historically that budget is a wish list. Congress never votes on the president’s budget. Congress develops its own budget, using the president’s budget as input.
2) The president administers the executive branch which spends appropriated funds as directed by Congress or according to its own discretion where Congress does not direct specifically how the money will be spent.
3). As head of the executive branch the president is responsible for collecting all taxes, duties and fees authorized by Congress.
4) The president has the power to veto any appropriations or tax bill passed by Congress in its entirety. Congress has the power to override the president’s veto by a 2/3 majority of both houses.
Every dollar of the national debt began as an appropriations bill in Congress that was not funded by sufficient tax revenue. Congress chose to spend without raising the money to cover the cost. To the extent the president deserves any blame, it is that the president did not veto unfunded spending bills and demand they be funded.
Congress today manipulates the budget process to make it politically untenable for the president to veto appropriations. Instead of sending individual departmental budgets to the president to sign or veto, Congress waits to the last minute to send huge pork filled omnibus spending bills to the president to sign or veto. Vetoing the bill results in the government partially shutting down creating a political and economic crisis.
Presidents cannot fix the debt problem. Presidents can propose but Congress has to act by reducing spending or increasing taxes.
It is insightful to look at the records of the Congress from the early period of our nation when Congress took the debt seriously and was fiscally responsible. The citizens wanted limited government and balanced budgets. The people sent to Congress acted accordingly. Plus Congress passed many appropriations bills and presidents were not hesitant to veto selectively the smaller bills since there was no potential to shut down the government by vetoing a specific bill to fund a canal or build a ship for the navy.
Until we the people begin sending fiscally responsible representatives to Congress the debt will keep growing. Over 95% of incumbents are re-elected to Congress every election cycle. They appropriate all funds and authorize all taxes. Congress creates the debt by appropriating money and not raising revenue to fund the spending. Blame Congress, not presidents.
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