Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

McCarthy Unveils Plan to Lift US Debt Ceiling, Cut Spending
NewsMax ^ | 20 April 2023

Posted on 04/20/2023 3:28:33 AM PDT by MeneMeneTekelUpharsin

House Speaker Kevin McCarthy on Wednesday unveiled a plan to raise the nation's debt ceiling by $1.5 trillion and cut federal spending by three times that amount, laying out an opening position in what is likely to be a tense partisan debate over government borrowing. McCarthy's proposal, which he unveiled on the floor of the House of Representatives, would cut the total amount of domestic and military spending to 2022 levels and cap growth at 1% annually in years to come. It would not touch retirement and health programs that are projected to expand dramatically as the population ages.

President Joe Biden and the Democratic-controlled Senate are likely to reject the proposals, but McCarthy said they would serve as the basis for negotiations between the two parties over raising the federal government's $31.4 trillion debt limit in the coming weeks. Failure to raise the debt ceiling would lead to default that would shake the U.S. and world economies. McCarthy's plan would also repeal green-energy incentives signed into law by Biden last year, boost domestic oil and gas production and scrap his $400 billion student-loan forgiveness effort.

It would claw back unspent COVID-19 relief money, cancel a recent budget increase for the Internal Revenue Service and impose stiffer work requirements for some benefit programs. Congress would gain greater power to block Biden administration regulations under the proposal as well.

(Excerpt) Read more at newsmax.com ...


TOPICS: Business/Economy; Front Page News; Government; Miscellaneous; News/Current Events
KEYWORDS: debt; floats; mccarthy; plan
Navigation: use the links below to view more comments.
first 1-2021-25 next last
Biden responded saying they want to raise the debt ceiling with no conditions.

Either you guys cut the spending NOW or we all will sink down into problems that will rival hell.

1 posted on 04/20/2023 3:28:33 AM PDT by MeneMeneTekelUpharsin
[ Post Reply | Private Reply | View Replies]

To: MeneMeneTekelUpharsin

That is not ‘cutting spending’, it’s cutting the rate at which we spend. Instead of spending $6T, we’re only spending $1.5T.

That’s NOT CUTTING SPENDING.


2 posted on 04/20/2023 3:34:54 AM PDT by ro_dreaming (Who knew "Idiocracy", "1984", "Enemy of the State", and "Person of Interest" would be non-fiction?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MeneMeneTekelUpharsin

Its more than they’ve done any other time since the 1992-93 Congress.

Even though they cut the military budget to cut spending.


3 posted on 04/20/2023 3:40:58 AM PDT by airborne (Thank you Rush for helping me find FreeRepublic!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MeneMeneTekelUpharsin

“Let’s spend less, by increasing the amount of money we spend.”


4 posted on 04/20/2023 3:50:15 AM PDT by ClearCase_guy (“You want it one way, but it's the other way”)
[ Post Reply | Private Reply | To 1 | View Replies]

To: airborne

https://freerepublic.com/focus/f-chat/4146732/posts


5 posted on 04/20/2023 3:57:09 AM PDT by knarf (I say things that are true . . . I have no proof, but they're true.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: MeneMeneTekelUpharsin

Charlie Reese wrote in 1983:
“Politicians are the only people in the world who create problems and then campaign against them.

Have you ever wondered why, if both the Democrats and Republicans are against deficits, we have deficits? Have you ever wondered why if all politicians are against inflation and high taxes, we have inflation and high taxes?

You and I don’t propose a federal budget. The president does. You and I don’t have Constitutional authority to vote on appropriations. The House of Representatives does. You and I don’t write the tax code. Congress does. You and I don’t set fiscal policy. Congress does. You and I don’t control monetary policy. The Federal Reserve Bank does.

One hundred senators, 435 congressmen, one president and nine Supreme Court justices — 545 human beings out of 235 million — are directly, legally, morally and individually responsible for the domestic problems that plague this country.”

(I’ll add...... he’s not talking about just the democrats.)


6 posted on 04/20/2023 4:03:11 AM PDT by xenia ( “The further a society drifts from truth the more it will hate those who speak it” George Orwell)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MeneMeneTekelUpharsin

he has ONLY freed Pelosi’s family friend from the Jan6
debacle. The tapes are not released for others, were they.

now he stabs America in the heart.

He and McConnell ARE the adrenochrome trafficking GOP.

Traitors to the Republic emitting the ever-present
gouts of lies.

Traitors and backstabbers = GOP.


7 posted on 04/20/2023 4:09:36 AM PDT by Diogenesis (Si vis pacem, para bellum)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MeneMeneTekelUpharsin

Kevin M back to his backstabbing Gope ways .
No backbone . Caves and runs .
Uniparty back in control .
Where are the rest of those tapes Kevin ?

Trump can really pick another Gope Swampie . Yet Donnie want to drain what again .lol . sure .


8 posted on 04/20/2023 4:27:39 AM PDT by ncalburt ( Gop DC Globalists are the evil )
[ Post Reply | Private Reply | To 1 | View Replies]

To: MeneMeneTekelUpharsin
There is no debt limit when it keeps increasing. There are no spending cuts when spending increases year after year. Savings is when you have more revenue than expenses and you do not spend the excess.

A man has XY chromosomes. A woman has XX chromosomes. Men do not get pregnant.

These effing bastards better stop lying.

9 posted on 04/20/2023 4:42:55 AM PDT by ConservativeInPA ("How did you go bankrupt?" Bill asked. "Two ways," Mike said. "Gradually and then suddenly." )
[ Post Reply | Private Reply | To 1 | View Replies]

To: MeneMeneTekelUpharsin

They can easily raise the nation’s debt ceiling by $1.5 trillion but how will they ever cut federal spending by even one dollar?


10 posted on 04/20/2023 5:12:57 AM PDT by Lockbox (politicians, they all seemed like game show hosts to me.... Sting)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MeneMeneTekelUpharsin

How can you cut spending by raising the ceiling. The only reason to raise the ceiling is to increase spending. What a stupid headline.


11 posted on 04/20/2023 5:37:42 AM PDT by Dandy (Drain the swamp baby!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Diogenesis

I have not kept up what th this. How many J6 prisoners is Trump given my dollars and speaking to? I am not on truth social, so it’s prob there


12 posted on 04/20/2023 5:38:22 AM PDT by momincombatboots (BQEphesians 6... who you are really at war with)
[ Post Reply | Private Reply | To 7 | View Replies]

To: ro_dreaming

“That is not ‘cutting spending”
True, but it is a start in the right direction.


13 posted on 04/20/2023 6:02:00 AM PDT by MCF (If my home can't be my Castle, then it will be my Alamo)
[ Post Reply | Private Reply | To 2 | View Replies]

To: momincombatboots

What is so ridiculous is when Senators/Congressmen attend the groundbreaking for projects in their jurisdictions seeking appreciation and votes due to the project. It is like parents spending lavishly on presents for their children expecting to receive respect and love from them without telling their children they borrowed all the money to buy these presents and the children will be shackled with the debt and carrying costs for the rest of their lives.


14 posted on 04/20/2023 6:06:41 AM PDT by ActresponsiblyinVA
[ Post Reply | Private Reply | To 12 | View Replies]

To: xenia
You and I don’t propose a federal budget. The president does. You and I don’t have Constitutional authority to vote on appropriations. The House of Representatives does. You and I don’t write the tax code. Congress does. You and I don’t set fiscal policy. Congress does. You and I don’t control monetary policy. The Federal Reserve Bank does.

That’s a cop out. We do all of those things through the representatives we choose.

15 posted on 04/20/2023 6:48:15 AM PDT by semimojo
[ Post Reply | Private Reply | To 6 | View Replies]

To: semimojo

“That’s a cop out. We do all of those things through the representatives we choose.”
___________________

Really? Do you want to know my voting history....all those I voted for who lied to get elected? It’s awful. I worked in campaigns for people who I believed....I’ve been a political activist. Been disappointed over and over.

I chose those representatives and they let us down. So now tell me how that is a cop out.


16 posted on 04/20/2023 6:56:42 AM PDT by xenia ( “The further a society drifts from truth the more it will hate those who speak it” George Orwell)
[ Post Reply | Private Reply | To 15 | View Replies]

To: MeneMeneTekelUpharsin

I think postponing the climate-change spending would be acceptable to most Americans.


17 posted on 04/20/2023 7:11:19 AM PDT by cymbeline
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

A step in the right direction. Either that or we will eventually go into the abyss.

What likely happens is Biden says, no thanks. McCarthy has to raise the debt limit or the GOP gets hammered by mainstream media, who the Independents watch.

We always lose Debt Ceiling fights. It’s a rigged game.


18 posted on 04/20/2023 7:17:31 AM PDT by rbmillerjr (Reagan Conservative: Economic Freedom, Peace through Strength, American Values- De Oppresso Liber)
[ Post Reply | Private Reply | To 16 | View Replies]

To: xenia
So now tell me how that is a cop out.

It's the American system. A democratic republic means you don't always get what you want.

Who do you think should make all those decisions if not our elected representatives?

19 posted on 04/20/2023 7:21:05 AM PDT by semimojo
[ Post Reply | Private Reply | To 16 | View Replies]

To: semimojo

I’m not saying or implying another system. Ours is corrupted beyond repair. We will live with the awful consequences.

Americans kicked God out of our country and out of our government. John Adams said :

“Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.”

He was 100% correct.


20 posted on 04/20/2023 7:37:05 AM PDT by xenia ( “The further a society drifts from truth the more it will hate those who speak it” George Orwell)
[ Post Reply | Private Reply | To 19 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-25 next last

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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson