Posted on 06/02/2023 10:08:18 AM PDT by SeekAndFind
Senate Majority Leader Charles E. Schumer pushed through legislation on Thursday waiving the nation’s debt limit until January 2025, overcoming obstacles put up by defense hawks, deficit hardliners, and even environmentalist Democrats.
Late in the evening, the Senate comfortably passed the debt limit deal struck by President Biden and House Speaker Kevin McCarthy, mostly doing so with Democratic votes.
The 63-36 vote came only days before the June 5 deadline by which Treasury Secretary Janet Yellen had warned the debt limit must be raised to avert a first-ever default on the nation’s ability to pay its debts.
“America can breathe a sigh of relief,” said Mr. Schumer, New York Democrat. “For all the ups and downs and twists and turns it took to get here, it is so good for this country that both parties have come together at last to avoid default.”
The legislation now heads to Mr. Biden’s desk for his promised signature.
The bill made its way through the upper chamber with votes from Mr. Schumer’s ranks, and mostly Republicans in dissent. GOP senators voted 31-17 against the bill, while 46 of the Senate’s 51 Democrats backed the legislation.
The five Democratic Caucus dissidents were Sens. Elizabeth Warren and Edward Markey of Massachusetts, John Fetterman of Pennsylvania, Jeff Merkley of Oregon, and Bernard Sanders of Vermont.
Its passage marks the end of a nearly six-month stand-off between the president and House Republicans.
Mr. Biden initially refused to negotiate on raising the debt ceiling in the face of Republican calls for spending cuts. The position held for over 100 days, but the White House relented once a hard deadline had been set by the Treasury Department.
The agreement hatched by Mr. Biden and Mr. McCarthy would waive the $31.4 trillion debt limit until after the 2024 presidential election
(Excerpt) Read more at washingtontimes.com ...
This has been said since reagan went over a trillion dollars in debt. First president to hold the honor. As long as our GDP goes up, we’ll be ok. Your post will be written when the debt is at 60 trillion. Same story, different year.
Lol. Nope. We owe more to Japan. And we only owe 1.2 trillion to China. Where do these lies come from?
It cost 20 billion to operate the IRS? The USA is a big country but that seems like a lot of money.
We are almost in the end game. Demographics supported this over spending for all these decades. What happens when the demographics turns against us?
(that bring us closer to global, economic collapse)
It’s where the Globalists are taking us. Absolutely.
I’m starting to believe that some of them are actively working to bring on Satan’s Antichrist.
Additional proof: The United Nation Elders called for “a man of peace” to rule for ONE 7-year term (2015)
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