The conservative distaste surfacing online and in person reflects the official position of the powerful House Freedom Caucus.
The group said last week that McCarthy should refuse to negotiate and force the Senate to simply pass a sprawling GOP proposal that rolls back large pieces of Biden’s accomplishments.
ACCOMPLISHMENTS? What are these so-called accomplishments?
Destroying the country?
All kabuki theater.
“What are these so-called accomplishments?”
Well, ruining the economy and transing up the military are two things I’m sure the left considers major accomplishments.
I don’t believe Sniffer has a left flank. He is as far left as they go.
Yes, yes and yes.
If “cooler minds prevailed” the federal government would immediately reign in spending, to preCovid levels, at least, avoiding inevitable bankruptcy & total economic collapse.
But not in the Yahoo! world of finance where “cooler heads” want to keep the gravy train a-rollin’
Kevin has already reassured Biden that there will be no default...so why continue to debate debt-ceiling?
“31 U.S. Code § 3123 - Payment of obligations and interest on the public debt
(a)The faith of the United States Government is pledged to pay, in legal tender, principal and interest on the obligations of the Government issued under this chapter.
(b)The Secretary of the Treasury shall pay interest due or accrued on the public debt. As the Secretary considers expedient, the Secretary may pay in advance interest on the public debt by a period of not more than one year....”
https://www.law.cornell.edu/uscode/text/31/3123
Note that the last sentence gave the Secretary of the Treasury the ability to hold off default for one year.
All these increase the maximum debt issue authorization amount or the federal government will default charades could have been avoided by Secretaries of the Treasury.
Congress has been repeatedly misinformed and misled.
Audacious! The Freedom Caucus wants to slow spending! How dare they!
Mind you, there are a few million seniors cognizant of how phooked they will be if this circumejaculatory circus sits on their hands, and we are not at all pleased.
“Default Prevention Act of 2013”
“(b) Certification.—Not later than 3 days after the date of enactment of this Act, the President [Barack Obama] may submit to Congress a written certification that absent a suspension of the limit under section 3101(b) of title 31, United States Code, the Secretary of the Treasury would be unable to issue debt to meet existing commitments.”
https://uscode.house.gov/view.xhtml?path=/prelim@title31/subtitle3&edition=prelim
The certification by President and former constitutional law professor Barack Obama under a law passed by a Senate presided over by Vice President Joe Biden is basically a legal admission that Joe Biden’s Amendment XIV plan is not legally permissible.
Default is scare word meaning late payment.
It is important to realize that federal finances are not the same as those of a business.
The federal government has the 110-year-old might of the Internal Revenue Service at its command.
A business is dependent on faith, goodwill, and most of all, a track record of timely payment.
A business can’t borrow money based on the force of law.
Congress has the Article I, Section 8 power to borrow money, including percentages of new bank-issued certificates of deposit (say 80% of 1% or less CDs sliding down to 20% of 4% CDs).
Congress could reduce the FDIC insurance maximum to steer money in search of loans towards the Treasury rather than to banks.
“The unrest on both fringes is raising new questions not just if a deal can be struck — but whether it could then even pass Congress in time to avoid a potential default on June 1.”
Here’s a clue for the hair-brained Yahoo Washington correspondent. It already passed Congress and is in Schmucky’s lap.
Why oh why is the senate not debating and considering it? Is Schmucky worried it will pass? Is he worried that SloJoe will veto it? Is he afraid it won’t pass and all blame will be placed on the rats? What’s he waiting for? He’s got his two vegetables back and ready to cast a vote.
This theater can only go on for so much longer. McCarthy needs to stand strong and wait for SloJoe and Schmucky to cave. There is no other option.
EC
A few months ago, a very prominent politician (who at the time held no elected office) insisted that McCarthy was a wonderful choice for Speaker, and that those who were holding his feet to the fire should shut up and get with the program.
That politician looks more foolish with each passing day.
Instead, the media only mentions government spending that they know impacts individuals, like Social Security and Medicare. But those programs are supposed to be separated and self-sufficient. They are not, only because we spend billions on politicians pet projects.
Yahoo news is terrible.
There’s a big fat FBI facility being built that we don’t need. And an education dept. And foreign aid. And non-essential staff.
The House has passed a bill to prevent default. Their job is done. If Biden and the Senate cannot get them to compromise on new terms, they have a choice whether to approve it or allow default.
Anyone asking our grandkids if it’s ok to run up their Credit Card debt?
Grandpa wants T-bone steak for dinner tonight.