Posted on 05/30/2017 12:01:44 PM PDT by OldGuard1
White House budget director Mick Mulvaney says the administration is likely to tell lawmakers they'll need to act earlier than expected to increase the government's borrowing cap.
Mulvaney told the House Budget Committee that "receipts currently are coming a little bit slower than expected." He says Congress may soon hear from Treasury Secretary Steven Mnuchin (mih-NOO'-shin) about a change in the deadline to raise the debt ceiling.
(Excerpt) Read more at dailymail.co.uk ...
Why raise it?
Adults pay their bills.
Get it over with, for a decade...raise the ceiling to $30 Trillion, and watch the cockroaches in DC scurry about! lol
Because this Congress is dragging it’s feet on everything.
Where are the tax cuts to spark the economy?
Where is the Health Care bill?
Where were the eight years of bills the Republicans wanted to pass but couldn’t?
Congress is MIA.
I’m really sick of it too.
Adults don’t run up a mountain of unrepayable debt and unfunded liabilities.
The excuse, I believe, is that the public refuses to allow the tax hikes or spending cuts or combination of those to allow the budget to balance.
I for one think they should cut all expenditures, except for those that affect me personally. Those are all good and should stay.
Go to youtube and search raise my debt limit. One of the funniest videos on the web.
And one of the most depressing...
The excuse, I believe, is that the public refuses to allow...
Sadly, our federal representatives are all democratically elected, except for the president. And that is partly why we are in the mess we are in.
Trump should demand every agency, every department except border security/defense be trimmed 10% (Not just rate of spending) or he will not sign anything. Eliminate redundancies with the states. Eliminate wasteful programs.
This time...twist their left gonad and make’em squeal.
This country is broke and running a Ponzi Scheme. No entity on Earth can function like this unless it foolishly borrows and prints its own money. I love how government sticks it to future generations. It sickens me.
Well this should be fun.
The swamp needs to be fed again. Nothing’s changed.
yep. We want to blame the politicians, but we ARE the politicians. Republicans want much lower taxes and much higher defense and security spending. Democrats would be fine with much higher taxes, but never to be used for debt reduction, only for redistribution (after taking large cuts for themselves and their cronies).
That there was even an apparent period in the 90s when budgets were balanced even for a short time was just an accidental miracle produced by gridlock.
Why have a debt ceiling at all?
“Adults pay their bills.”
Adults don’t spend money that they don’t have when the number approaches trillions of dollars.
Indeed. But they spent it already. Now it’s time to pay.
You are quite wrong. First, when Obama and the Republicans finally managed to get a budget passed we as a nation promised to fund future spending. However, we spent more than that and just recently had to throw another trillion at it. We now have the opportunity to create a budget for our next fiscal year that has far less wasteful overspending. Your statement that we’ve already bought things that we need to pay for is ludicrous.
You don’t understand what the debt ceiling is. It provides for paying debt already incurred. It has nothing to do with a future budget. Is it a stupid system? You bet.
“Need” is a strong word. We “need” air to breath, food to eat, and shelter from the elements.
We don’t “need” more debt.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.