There Are 99 Pages Of Details In The Debt-Ceiling Deal, And A Big Trap On Republicans: Don't be surprised if this deal costs McCarthy his job as Speaker of the House.

Mish Talk ^ | 05/29/2023 | Mike Shedlock

[SeekAndFind]

Semifinal Details

If you wish to wade through 99 pages of details, here's the full text of the Allegedly Final Debt-Ceiling Deal.

The Wall Street Journal has a synopsis in Biden, McCarthy Agree to Final Details of Debt-Ceiling Deal

With some conservative Republicans in both chambers signaling initial opposition to the deal, Biden urged both chambers of Congress to approve the agreement and said McCarthy would have sufficient votes in the Republican-led House to secure passage.

He also sought to quell concerns among Democrats over some of the deal’s provisions, such as additional work requirements for certain government safety-net programs, and rejected criticism from some progressive lawmakers that the agreement would let vulnerable people go hungry. “That’s a ridiculous assertion,” Biden said.

Republican Dissent

I am hearing the “deal” is for a $4 trillion increase in the debt limit. IF that is true, I don’t need to hear anything else. No one claiming to be a conservative could justify a YES vote. — Congressman Bob Good (@RepBobGood) May 28, 2023

Essentially What the Democrats Wanted

We will not back down, for the sake of the country.


#HoldTheLine https://t.co/06NZqIwKDT— Rep. Ralph Norman (@RepRalphNorman) May 25, 2023

Trojan Horse View

pic.twitter.com/6YpAObr4B2 — Rep. Ken Buck (@RepKenBuck) May 28, 2023

Democrats Got Everything They Wanted

This pretty much says it all.

Democrats got everything they wanted with this bill and don’t have to defend their reckless spending prior to the 2024 election. It’s a win for them. https://t.co/gtuHxQaXad — Rep. Ken Buck (@RepKenBuck) May 28, 2023

Deal is Insanity

This “deal” is insanity.

A $4T debt ceiling increase with virtually no cuts is not what we agreed to.

Not gonna vote to bankrupt our country. The American people deserve better. — Rep. Ralph Norman (@RepRalphNorman) May 28, 2023

"A $4T debt ceiling increase with virtually no cuts is not what we agreed to."

Democrats Oddly Calm

Notice how oddly calm Democrats are for a change? This is why… 👇 https://t.co/1vnYIOqieU — Rep. Ralph Norman (@RepRalphNorman) May 28, 2023

"Notice how oddly calm Democrats are for a change? This is why…"

Framework for a Deal

Despite the WSJ headline, this will not be the final deal. First, the bill has to clear the House. I suspect some House revisions.

Even if not, the Senate is also highly likely to make changes which will then have to be approved by the House.

Complete Surrender

I added Peter's "Surrender" Tweet to my post

I missed the age lift on the Food Stamp provision. He missed the "Big Trap"

I am sure we both missed details only Democrat lobbyists understand. https://t.co/vXPc1PYsn8 https://t.co/HczZuAFI9O — Mike "Mish" Shedlock (@MishGEA) May 29, 2023

What's Currently Inside?

1. A small cut in nonmilitary spending for the 2024 fiscal year, which begins Oct. 1, and a 1% cap on spending increases for the 2025 fiscal year. Veterans’ health programs would be exempt.
2. Military spending in fiscal 2024 would be roughly at the level of Biden’s fiscal 2024 budget request, according to two people familiar with the matter, which would amount to about a 3% increase.
3. A $21.4 billion reduction in funds that Congress approved last year for the IRS to boost tax enforcement and modernize its technology. [The original funding was $80 billion].
4. A provision aimed at pushing Congress to give up its practice of funding the government through a single, omnibus bill, as it has done in recent years, and to return to the tradition of passing 12 appropriations bills that cover the various parts of the federal budget. The measure has potential to win conservative support for the deal and was pushed by an influential Republican, Rep. Thomas Massie (R., Ky.), who believes that Congress should follow regular order when conducting its business.
5. The provision would call for the U.S. government to operate under a so-called continuing resolution at 99% of the prior year’s spending levels until the spending bills were enacted. Lawmakers were awaiting text to see the date at which the cuts would be triggered.
6. An expansion through 2030 of the requirement that some able-bodied people without dependents hold a job or be enrolled in a job training program to receive food stamps, which is a Republican priority. [This unfortunately excludes Medicaid. And it only applies to low-income adults without dependents between the ages of 49 and 54. It will be phased in over three years. All of these are far less than the original deal passed by McCarthy]
7. Imposition of a one- or two-year time limit to complete environmental reviews for energy and infrastructure projects. The bill allows a project’s developer to sue if the review isn’t completed in time. [I suspect this is a huge trap, more comments below]
8. Currently, reviews required under the National Environmental Policy Act of 1970 take an average 4.5 years to complete and can involve multiple agencies. The deal calls for a single agency to assume responsibility for the study. Speeding up the reviews has been a priority for Republicans. [This too is a huge trap]
9. Expediting the remaining permits necessary to complete the Mountain Valley Pipeline, a 303-mile natural-gas pipeline between West Virginia and Virginia.

Understanding the Trap

The above points are quotes from the WSJ plus my comments in brackets[].

Points seven, eight, and nine are part of the trap. Point nine will be debated in the Senate. Expect fireworks.

Both sides seem to be in favor of points seven and eight. But one side is sure to be wrong.

With Biden as President, it's easy to see who fell into the trap. Democrats will speed up and approve every clean energy boondoggle imaginable at great speed.

Republicans will have every project rejected at great speed.

This situation will reverse if Republicans win the White House in 2024. But a lot of boondoggles will be approved in the interim.

Best Part of the Deal and Overall Analysis

The best part of the deal are points four and five. A no earmark provision needs to be added to those points.

But Democrats get far more out of this than Republicans.

Hold the Line

We will not back down, for the sake of the country. #HoldTheLine https://t.co/06NZqIwKDT — Rep. Ralph Norman (@RepRalphNorman) May 25, 2023

35 GOP House Representatives will likely vote against this deal. Republicans only have four votes to spare.

Expect More Boondoggles Like These

• Biden's Solar Push Is Destroying the Desert and Releasing Stored Carbon
• Free Money Quote of the Day On the Next Big Thing, Garbage

Question and Answer of the Day

Q: Will This Pass?
A: Yes, easily.

Don't be surprised if more Democrats vote for this version than Republicans. Look no further than trap points seven and eight above to understand why.

In return for minor cutbacks in spending, and a token roll-in work requirement for food stamps, Democrats will get to rubber stamp every pet clean energy boondoggle they seek.

I mentioned this in a previous post and still have not seen it mentioned elsewhere. Don't be surprised if this deal costs McCarthy his job as Speaker of the House.

[Diogenesis]

"We in the GOP are god. We made you and allow you to live.
You will obey us as you have.

.

[JoJo354]

Absolutely! I am writing my Congressmen now!

[JoJo354]

Maybe that is the RINO plan. Trump endorsed McCarthy, McCarthy caves to Democrats on the debt ceiling and spending, McCarthy gets kicked out of the Speakership. This makes Trump look bad so more people decide not to support him. Thus, Trump loses primaries. Easie peasie.

[2001convSVT]

Betrayed again is right. Every penny spent on new IRS agents needs to be removed from the budget. We don’t want 87,000 agents with the government boot on the citizens throats.

[Engedi]

An expansion through 2030 of the requirement that some able-bodied people without dependents hold a job or be enrolled in a job training program to receive food stamps, which is a Republican priority. [This unfortunately excludes Medicaid. And it only applies to low-income adults without dependents between the ages of 49 and 54. It will be phased in over three years. All of these are far less than the original deal passed by McCarthy]

And it only applies to low-income adults without dependents between the ages of 49 and 54. It will be phased in over three years. Say what? Ages 49 to 54 have to go to work or get job training? What about ages 18-48????

[COBOL2Java]

Only in Washington can year-over-year increase in spending be hailed as "a cut".

Click on the picture of Rush

[sauropod]

.

[sauropod]

.

[mabarker1]

“Well I’m going to have to get it reframed with bullet-proof glass with anti-glare coating and some really nice exotic hardware that goes on the back so I can hang in the massive new house that must be constructed out of burled walnut and the corners of the room that it will be hung in shall be required to have gold crown molding and...”

“Well that’s just the best I can do for you.”

“And I want an ice cream cone too.”

[momincombatboots]

Maybe big pharma was paying again or something.
There were plenty of people running against McCarthy that have a fiscally conservative record. Trump rejected all of them.
Just like his plan to save social security is paying people. Notice he didn’t say taxpayers or citizens, to have babies.
He is big government spending and so is his presidential record.
His deep state boogeyman can only roll most of the people most of the time