Oh, OK. MORE debt will "protect the full faith and credit of the United States government"? Sure. Makes perfect sense.
Posted on 12/15/2021 10:42:11 PM PST by MarvinStinson
The Senate passed a $2.5 trillion debt ceiling increase that will push the ceiling past the 2022 midterm elections by temporarily bypassing the Senate’s filibuster.
It passed, 50-49, with solely Democrat votes.
The measure moves to the House, where it is quickly expected to pass and get sent to President Biden. The federal government may face a default on its debt if Congress fails to raise the debt ceiling by December 15.
The Senate passed the debt ceiling increase after members created a one-time carveout to the Senate’s rules, allowing Democrats to pass the bill with a simple majority.
Sen. Mike Lee warned this would “be one more tool” to be used to “abuse the American people:”
Rachel Bovard, senior director of policy for the Conservative Partnership Institute, wrote:
In the twisted world of Washington, D.C., politics, this allows McConnell and the Senate GOP to claim they are technically keeping their pledge not to raise the debt ceiling after they vote for a bill creating the opportunity for Democrats to do it for them. What’s more, the legislation allows the Democrats to raise the debt ceiling to whatever amount they choose. Literally, the bill provides a blank space for the number to be filled in. Presumably, they could insert the symbol for infinity, and Republicans would still happily tee up for the vote for them. Yes, I told you it was craven.
Sen. Raphael Warnock (D-GA) saidthe one-time carveout shows a path toward election reform.
“We could not imagine changing the rules. Until last week, we did exactly that. This is a step … we haven’t been able to take to save our broken democracy … we changed the rules to protect the full faith and credit of the United States government,” Warnock said.
(Excerpt) Read more at breitbart.com ...
They passed it by the usual method of checking the GOP for a spine.
And Manchin and Sinema talk like they are seriously conflicted and standing up for America... then of course they do whatever Schumer wants.
Hopefully we will no longer need to hear how they are responsible democrats we can almost trust.
temporarily? Really? don't make me laugh.
'Rats and 'Rinos always pushing the shred the Constitution envelope. temporarily? No, temporarily now, and later, until it becomes not temporarily.
my better half did some head math and came up with about 15 Trillion spent between Obama (9.375T) and Biden (5.475T). At least we know where the 3T spent by Trump went - to us (direct and to states) and to pandemic response and supplies. Anybody seen anything material from the Obama spending? Will anyone see anything material from the Biden spending? What collateral did Congress put up? Or are we just printing money like Venezuela?
Well at least shiner didn’t rub McConnell’s nose in this particular capitulation, like he usually does
Sorry, Schumer
Thaanks, Mitch, you spineless weasel. Your tenure is over.
Fake news... Democrats passed the “debt limit) hahahah, because Mitch and chump senators changed the filibuster rules giving the democrats the power to increase the debt.
Sen. Raphael Warnock (D-GA) said the one-time carveout shows a path toward election reform.
As always the liar makes no *(*** sense.
None the less, he is the choice of the voters of the State of Georgia. The voters will not rest or quit until they get Stacy Abrams as Governor.
Everyone [except the voters] know that the GOP has no spine. But the voters still elect them.
Article does not explain that the GOP passed this bill. The exception to the rules was agreed to by the GOP specifically so this bill could pass. Period. They will lie and say they fought and that no republicans voted for it but they were the ones that rigged it so it would pass without them. They don’t believe anything they say, they lie to fool us into believing that there is a party opposed to the democrat agenda. Here is a case where it’s crystal clear that there is not, they simply staged it so it appears there is With one or two exceptions they are the SAME as the dems and they need to go. Primary every single incumbent. All of them!
All GOP incumbents out.
Why be so selective? The Repukelicans engineered it, but the Democrats actually voted for it, including the two who claimed they wouldn’t. So out with all of the lying deceiving sons of bitches and bastards.
...and easily said but near impossible to accomplish.
So, in the absence of that, it’s time for every swinging dick duly elected county sheriff and county attorney to convene a Grand Jury, and indict every one in the Senate for treason as long as we are attempting the nearly impossible.
...and don’t forget if it fits, we must convict.
...and speaking of insurrection, these hundred in the Senate sure look like what someone else thinks January sixth looked like.
Long long ago I used to say the US Senate was the most dangerous group of one hundred people in the United States of America. I guess I’m going to have to resurrect that bit of doctrine.
A mortgage or government bond might have two interest rates.
A first interest rate would provide steady income - such as a 30-year fixed 2.88% payout rate.
A second interest rate would provide protection of the principal against inflation - such as an adjustable principal increase rate, which might be tied to property tax assessments or government spending or retail prices, or a calculated mixture.
A $300,000 2.88% payout purchase mortgage might pay $8,640 in interest its first year and have a principal balance of $312,000 at the start of month 13.
Monthly mortgage payments would remain affordable, but the mortgage would protect mortgage investors quite well against inflation.
“They passed it by the usual method of checking the GOP for a spine.”
Republicans are lazy deadbeats, only beholden to their donors, just like the democrats.
“A pox on both their houses.”
DC is scumbag central. With McTurtle in the lead.
There will be severe consequences if people and governments are cheated out of $30 trillion of monetary value.
They are all trying to kick the can down the road.
Pelosi and McConnell are very old and quite probably won’t see the US dollar collapse.
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