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.

[Reno89519]

Nah, Trump will give him a hero’s congratulation. Republicans will fall in line, Americans once again lose.

[cowboyusa]

VACATE THE CHAIR!

[MinorityRepublican]

Kevin McCarthy is good with words. He’s a politician. But he hasn’t backed up his talk. He’s nothing like Nancy. She was tough as nails.

[proust]

Trump worked too hard to put Kevin in to let it end like this.

[Bernard]

Adding $4 Trillion (with a T) to the debt is supposed to cover future reported deficits, or cover the COVID spending timebombs? You know, the money printing that was approved under the emergency bills that has not actually been spent yet?

[cowboyusa]

Yep

[cowboyusa]

Betrayed again.

[cowboyusa]

Byeon Donalds for House Speaker!

[Trump Girl Kit Cat]

We are ALWAYS given the middle finger by the GOP, 50 years of this BS and I have NEVER seen anything different!! You only need to look at the state of our nation to know HOW USELESS the GOP SCUM are!!! There is NO VOTING our way out of this, the people we have voted into office don’t give a damn about this nation or it’s citizens, they ONLY care about themselves!! They are purposely turning our wonderful nation into a 3rd world hell hole they don’t give a damn BECAUSE they will always be wealthy and corrupt!! It breaks my heart to look at all the fallen in Arlington and realize the bastards running our military and government could give a shit less about their lives or their families….SPIT!!!

[Chad C. Mulligan]

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

[cherry]

tired of the same ol same ol from these mighty pubs.....so strong on school prayer and flag burning...right....

just never donate to them anymore...if you must support a candidate, then give directly to him.

[Chgogal]

Talking about Biden!

[Chad C. Mulligan]

Tell me that RINOS in Congress weren’t leaning on McCarthy throughout the negotiations. Telling him that THEY would invoke “Vacate the Chair” if he didn’t cave.

[cowboyusa]

Ok, now Conservatives need to do it.

[AnthonySoprano]

.
It’s silly to think Biden’s agencies that hold the hard line always will suddenly be reasonable on Energy or Environmental projects.

You’re not getting crap from them, even if you streamline the process.

Biden’s main issue that he had to have was to not face a Debt Limit before the Election. Eliminate the realities of the Economy and Biden can do as he loves - promise grand things and money to every single group. McCarthy gave it away for nothing.

McCarthy didn’t view Biden as an opponent. They convinced him that the glory for him was to complete the deal, and bask in the glory,

[AnthonySoprano]

.
He’s be damn tough if you were asking for money for a Border Wall, or wanted to cut funding for the FBi.

It’s not toughness, it’s his goals and objectives.

[cowboyusa]

Should have re- instituted the HUAC on the 1st day. Should have held Hearings explaining 90 years of marxist infiltration vegining with the traitor fdr.

[ArcadeQuarters]

A cap is not a cut. RINOs and Democrats will turn anything into a spending spree.

[cowboyusa]

Think about this: Bohner did a better job with Obama, than MCCarthy did with a half brain dead Biden!!