Posted on 05/27/2023 7:15:15 PM PDT by SeekAndFind
Joe Biden and House Speaker Kevin McCarthy (R-CA) have come to a deal on the debt ceiling negotiations.
House GOP Speaker Kevin McCarthy announces the debt ceiling deal will have "historic reductions in spending…no new taxes, no new government programs…" pic.twitter.com/7VWACUXrfI
— Kevin Tober (@KevinTober94) May 28, 2023
The news is that they intend to lift the debt ceiling and apply new caps on spending.
He said they still had more work to do to finish the writing of it, but that it was an agreement “worthy of the American people.”
The Hill noted that some of the things they had been tussling over were “spending levels, new work requirements for social benefit programs. and permitting reforms to expedite approval of energy infrastructure projects — two Republican demands that were opposed by most Democrats.”
Now, it still remains to be seen if they will have the votes and it is something that Republicans will buy into.
The proposal still faces tall barriers to passage, particularly in the House, where conservatives wasted no time hammering the compromise as a capitulation by McCarthy to Biden — one they say has undermined the deficit reduction goals of Republicans going into the talks. They’re vowing to oppose the measure when it hits the floor. [….]
The agreement drew immediate howls from both sides of the aisle, with liberals protesting that the spending cuts are too sharp and conservatives objecting that they’re not sharp enough.
We’ll have to see what they come out with, and if they have the votes to bring it through.
The conservatives are pointing to one major point of contention: The debt ceiling hike in their legislation was capped at $1.5 trillion, while the deal McCarthy cut with Biden was expected to be nearly three times that figure.
“Unacceptable,” the Freedom Caucus tweeted.
Rep. Dan Bishop (R-N.C.) took the criticisms a long step further, saying a debt ceiling increase of that size would prompt “war” between conservatives and leadership.
“If [the] Speaker’s negotiators bring back in substance a clean debt limit increase … one so large that it even protects Biden from the issue in the presidential …, it’s war,” Bishop tweeted.
But McCarthy is claiming victory.
Despite the conservative criticisms, Republicans clearly won the debate in one important sense: Unlike debt ceiling fights in the past — when GOP leaders demanded spending cuts but conceded tax hikes to Democrats in return — McCarthy drew a red line on new revenues early in the process, focusing the deficit reduction effort squarely on only the spending side of the budget equation in what amounts to a major victory for Republicans.
As this is a breaking story, RedState will provide further details when they become available.
McCarthy held ALL the cards. This is ridiculous.
He clawed back $1.9 billion of the $80 Billion New Funding going to the IRS.
$1.9 of 80 BILLION!
What a joke, now they Cheerlead to sell this crap.
Biden was at the Beach getting Treatment, he didn’t even have to be conscious and he Won.
.
.
It’s much worse then the summary.
McCarthy squandered all that Leverage!
Every working, tax-paying American will be bleeding profusely from the rectum once this deal is announced...
The “bend-over-and-spread-them” GOP strikes again!
All financial hope for the next 10 generations is irrevocably lost...
I blame the voters, they love pork.
Surprise surprise - the show continues.
SSDD
A debt ceiling agreement has not been reached. If McCarthy doesn’t immediately return to the budget passed buy the house, those in the Freedom Caucus must immediately file a motion to vacate the Speakership.
McCarthy was warned not to capitulate and he must be held to account.
Yes its just a cut in the increase of spending.
.
You are right. The Freedom Caucus warned him in April precisely, specifically not to make this deal.
He then made that deal.
Biden got what he needed from McCarthy, McCarthy agreed to move the next Debt Limit back until the Presidential Election, so Biden could promise everything to everyone and avoid real talk of Spending and $32 Trillion Debt.
The Freedom Caucus correctly pointed out that was Biden’s main objective.
RINOs collapsed like “Tool Time’s” suit-in-a-bag.
“So McCarthy folded, claimed, victory, “
Looks like it might be getting close to the time those of us who were adamantly anti-McCarthy should say, “I told you so!”
Up until now I had been eating a lot of crow because KM was doing so well.
Now let’s see of the Freedom Caucus has the balls to implement “Vacate the chair” they worked into the deal.
“I don’t trust the Democrats. They are lying.”
They are all lying. You should trust no Democrat nor any Republican
Because no member of Congress actually reads the proposed legislation, this article could be substituted for the one-page summary they typically vote on. Then they go home resting assured that they have done something worthwhile. They wake up the next day to find the whole exercise was garbage in, garbage out, and they screwed the American people again...
Budget deal is a NOTHING BURGER.
https://media.townhall.com/cdn/hodl/cartoons/alg052423dAPR-800x0.jpg
Yep!
One might also refer to the voters as addicts...
Once hooked, very difficult to get sober...
Ever get the feeling you’ve been cheated?
More evidence of election fraud yet nothing will happen.
Paging Ron DeSantis...
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