McCarthy must heed Reagan’s warning on the debt ceiling — China is watching

The Hill ^ | 05/10/2023 | REP. JOE COURTNEY

[ChicagoConservative27]

After months of warnings, Treasury Secretary Janet Yellen has officially set a deadline: If Congress fails to act by June 1, the United States will default on its debt. Hopefully, this blunt SOS will operate as the great Samuel Johnson once said, “When a man knows he is to be hanged in a fortnight, it concentrates the mind wonderfully.”

So far, though, instead of acting on the secretary’s numerous warnings, House Speaker Kevin McCarthy (R-Calif.) has willfully forced the United States to stare down the barrel of impending default to leverage passage of the Freedom Caucus’s dead-on-arrival wish list of conservative policies. His fantasy debt limit bill, which passed by just two votes, will gut critical programs and, as the Wall Street Journal pointed out, raise taxes on farmers, homeowners and manufacturers. Additional casualties include rail safety, food safety, veterans’ benefits, job training and Pell Grants, to name just a few.

[ChicagoConservative27]

Piss of Rep Joe

[eyeamok]

Lying Yellow journalism, the Ball is in Bidens court, HE OWNS IT!!!

[Egon]

...will gut critical programs

Heh. Right.

[Hetuck]

Can’t Janet Yellen and her minions develop a priority of payments schedule to insure we pay the interest on our debt before other obligations are paid?

[olezip]

House Speaker Kevin McCarthy (R-Calif.) has willfully forced the United States to stare down the barrel of impending default to leverage passage of the Freedom Caucus’s dead-on-arrival wish list of conservative policies.

Janet Yellen is yelling at the wrong person; and Yellen is wrong again.

First, she has the money to not default.

Second the ball is in Biden's court.

Is his dementia so bad that he does not know that?

[ActresponsiblyinVA]

The author needs to continually tell his children and grandchildren that he has to spend to keep in office and it is their responsibility to pay the debt back.

[Tell It Right]

Any discussion involving the words “China” and “debt” should point out that it’s been many decades since China made payment on the $1.6 trillion in treasuries that American bondholders bought to help them build a railroad.

[Myrddin]

The Democrats routinely used the threat of default on the debt to push their legislative agenda. The Republicans have the House majority now and control of the purse strings. They must not back down on the current bill to cut spending in exchange of raising the debt limit. It is their ONLY leverage. Caving with a "clean bill" to raise the debt limit will result in the Democrats laughing at any cooperation.

[Menehune56]

Concern trolling by The Shill. As usual.

[sauropod]

.

[AnthonySoprano]

.

They love Wild Spending, but now feign concern.

They view the Spending as a way to crash and migrate to Socialism.

[delta7]

After ten years plus of zero interest to “ stimulate “ the economy , they met their end. ( our end). With interest rates the way they are now we can not in any way even pay our interest on our debt. US Government is going to default on their debt- forecasted years ago.

Prepare, it’s inevitable.

[DesertRhino]

Baloney… when Reagan was president, we were the worlds creditor nation. Now we are the biggest debtor in all of human history. Time to cut spending hard. And I notice on the list of all the things that will suffer, Ukraine is nowhere to be seen.

[gibsonguy]

Yeah the shit heads at The Hill really respect Reagan.

[delta7]

We paid $1.3 Billion a DAY in 2022 in interest payments. Let that sink in.

[Cincinnatus.45-70]

These anti-American progressives like to cite Reagan on that point, but fail to point out that Congress passed an annual budget in those days. Now they just blast money down a rat hole.

[Glad2bnuts]

No benefits for non citizens, there I fixed it. Let the States foot the bill in its entirety.

[Glad2bnuts]

Truth, Reagan began this mess. He promised, but was just as bad at math as Pelosi.

I never voted for him, but he was worshipped. It seemed he believed that after massive deficits, everyone would cut back to a balance. We never did, and the credit card and outlays are now going to have to be reduced or ZEROed out.

[dan on the right]

What a lie.

We are not defaulting on our debt, regardless of the outcome of the debt ceiling negotiations.

There is enough tax revenue coming in to pay our debts (1st priority) and entitlements (2nd priority).

Now, this demented group of zealots might intentionally stop paying our debts (illegal) to make a point and the press will follow in lockstep; but constitutionally, the debt is fine; we can easily afford it. Yes, some parks might close, etc., like last time, but we can handle that.

Hoping McCarthy stays true. So far, so good.

[Bailee]

The should not raise the Debt limit one dime.

Stop the spending.

Period.

Our Debt is like a motel on fire. We could have jumped out the window on the first floor. But noooooo we ran up to the second floor. Then they raised the debt limit so we ran up to the Third floor.