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"House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Ted King
Date: May 02, 2023 05:08PM
[www.nytimes.com]
(pageview in Firefox works)

Quote

With a possible default now projected as soon as June 1, Democrats on Tuesday began taking steps to deploy the secret weapon they have been holding in reserve. They started the process of trying to force a debt-limit increase bill to the floor through a so-called discharge petition that could bypass Republican leaders who have refused to raise the ceiling unless President Biden agrees to spending cuts and policy changes.

“House Democrats are working to make sure we have all options at our disposal to avoid a default,” Representative Hakeem Jeffries, Democrat of New York and the minority leader, wrote in a letter he sent to colleagues on Tuesday. “The filing of a debt ceiling measure to be brought up on the discharge calendar preserves an important option. It is now time for MAGA Republicans to act in a bipartisan manner to pay America’s bills without extreme conditions.”

An emergency rule Democrats introduced on Tuesday, during a pro forma session held while the House is in recess, would start the clock on a process that would allow them to begin collecting signatures as soon as May 16 on such a petition, which can force action on a bill if a majority of members sign on. The open-ended rule would provide a vehicle to bring Mr. DeSaulnier’s bill to the floor and amend it with a Democratic proposal — which has yet to be written — to resolve the debt limit crisis.

The strategy is no silver bullet, and Democrats concede it is a long shot. Gathering enough signatures to force a bill to the floor would take at least five Republicans willing to cross party lines if all Democrats signed on, a threshold that Democrats concede will be difficult to reach. They have yet to settle on the debt ceiling proposal itself, and for the strategy to succeed, Democrats would likely need to negotiate with a handful of mainstream Republicans to settle on a measure they could accept.

A handful of hard-right Republicans explicitly warned their colleagues on Tuesday not to go down that path. “House Republicans: don’t defect!” Senator Mike Lee of Utah wrote on Twitter.

Still, Democrats argue that the prospect of a successful effort could force House Republicans into a more acceptable deal. And Treasury Secretary Janet L. Yellen’s announcement on Monday that a potential default was only weeks away spurred Democratic leaders to act.



e pluribus unum
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Mr645
Date: May 02, 2023 09:48PM
Biden wants $2 trillion in spending, Republicans want much less.

Personally I lean toward the Republicans, the spending has to stop.

To get this to pass, Biden has to lobby/bribe 5 Republicans



"No Comment"
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: SKYLANE
Date: May 02, 2023 11:53PM
Lawrence O'Donnell spent time talking about this tonight on MSNBC. If interested, may find it on YouTube or the MSNBC website.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Ca Bob
Date: May 03, 2023 03:31AM
The Republicans can refuse to pass new spending bills if they choose, but they should not damage the nation and the world with this -- by now redundant and childish -- stunt.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Speedy
Date: May 03, 2023 05:24AM
Quote
Mr645
Biden wants $2 trillion in spending, Republicans want much less.

Personally I lean toward the Republicans, the spending has to stop.

To get this to pass, Biden has to lobby/bribe 5 Republicans

Gee, it seems Congress has already passed the spending measures and the president has signed them into law. Why do Republicans always want to break the law when we have a Democratic president? Republicans don’t do this when there is a Republican president.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Mr645
Date: May 03, 2023 06:41AM
Quote
Speedy
Quote
Mr645
Biden wants $2 trillion in spending, Republicans want much less.

Personally I lean toward the Republicans, the spending has to stop.

To get this to pass, Biden has to lobby/bribe 5 Republicans

Gee, it seems Congress has already passed the spending measures and the president has signed them into law. Why do Republicans always want to break the law when we have a Democratic president? Republicans don’t do this when there is a Republican president.

The country is broke, $32 trillion in debt, we have to stop spending. 8% of all federal income goes toward interest on the debt. Time to tighten the belt



"No Comment"
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Ted King
Date: May 03, 2023 07:53AM
Let's be real. The Republicans can make their demands going through the normal budget process. But they want to make these demands through the debt-limit process because it gives them more leverage than the normal budget process. More leverage as in, "we have this gun to the head of our economy and we'll pull the trigger if you don't give us what we want."

Ronald Reagan:

Quote

"Unfortunately, Congress consistently brings the government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility -- two things that set us apart from much of the world."

Trump extended the debt limit three times without making any cuts.



e pluribus unum
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Speedy
Date: May 03, 2023 08:16AM
Quote
Mr645
Quote
Speedy
Quote
Mr645
Biden wants $2 trillion in spending, Republicans want much less.

Personally I lean toward the Republicans, the spending has to stop.

To get this to pass, Biden has to lobby/bribe 5 Republicans

Gee, it seems Congress has already passed the spending measures and the president has signed them into law. Why do Republicans always want to break the law when we have a Democratic president? Republicans don’t do this when there is a Republican president.

The country is broke, $32 trillion in debt, we have to stop spending. 8% of all federal income goes toward interest on the debt. Time to tighten the belt

Don’t authorize the spending in the first place if you want belt tightening.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: pdq
Date: May 03, 2023 08:48AM
I’m surprised the news media doesn’t state the obvious; Repubs pull this @#$%& every time they can, but only if there’s a Dem in the WH.

Have the Dems ever blocked a debt-limit increase as a negotiating tactic?

Dems pay our bills; Repubs always threaten to go deadbeat, which would be a real (expensive!) mess for our country.

But then, that’s a feature, not a bug, for the GOP.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Lux Interior
Date: May 03, 2023 08:48AM
Remember the outrage from fiscal conservatives when Trump wanted to add trillions to the debt with his tax cuts?

Neither do I.

They said they would "pay for themselves."

Remember the outrage from fiscal conservatives when the tax cuts did nothing for the economy and only resulted in the redistribution of wealth upward?

Neither do I.

Maybe Mexico was supposed tp pay for the tax cuts, too.

Remember the outrage from fiscal conservatives when Mexico didn't pay for @#$%&?

Etc.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Acer
Date: May 03, 2023 08:50AM
These calls for cuts are going to hurt the plans presented elsewhere on this board vis a vis firearm homicide. Better mental health support, arming and training teachers, hardening of security at soft targets and more prison space for the longer sentences for the violently inclined--these things all cost money.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: pdq
Date: May 03, 2023 09:23AM
Quote
Acer
These calls for cuts are going to hurt the plans presented elsewhere on this board vis a vis firearm homicide. Better mental health support, arming and training teachers, hardening of security at soft targets and more prison space for the longer sentences for the violently inclined--these things all cost money.

Well, we wouldn’t cut those things. Or Defense. Or my Social Secuity check. And keep government’s hands off of my Medicare.

Just the “waste”. Or any money that goes to people who aren’t me.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Ted King
Date: May 03, 2023 09:33AM
Quote
pdq
Quote
Acer
These calls for cuts are going to hurt the plans presented elsewhere on this board vis a vis firearm homicide. Better mental health support, arming and training teachers, hardening of security at soft targets and more prison space for the longer sentences for the violently inclined--these things all cost money.

Well, we wouldn’t cut those things. Or Defense. Or agricultural subsidies or fossil fuel subsidies. Or my Social Secuity check. And keep government’s hands off of my Medicare.

Just the “waste”. Or any money that goes to people who aren’t me.



e pluribus unum
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Ombligo
Date: May 03, 2023 10:38AM
The party before country politicos could force the default in order to trigger the recession. Then they will blame Biden all in an effort to get the White House in 2024. Then by 2028 the natural cycle will bring the economy back to where it is today and they will take full credit for a glorious improvement.

The gullible public will buy into as well



“No persons are more frequently wrong, than those who will not admit they are wrong.” -- François de La Rochefoucauld

"Those who cannot accept the past are condemned to revise it." -- Geo. Mathias

The German word for contraceptive is “Schwangerschaftsverhütungsmittel”. By the time you finished saying that, it’s too late
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Acer
Date: May 03, 2023 10:44AM
I remember when they did this to Obama. The market dived and it took six months to get the 401K back to where it was, all for their stupid kabuki theater.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Ted King
Date: May 03, 2023 11:11AM
Quote
Ombligo
The party before country politicos could force the default in order to trigger the recession. Then they will blame Biden all in an effort to get the White House in 2024. Then by 2028 the natural cycle will bring the economy back to where it is today and they will take full credit for a glorious improvement.

The gullible public will buy into as well

All too true. Too many people are that gullible. It's maddening.

After all, everyone knows that Republicans are the more responsible ones when it comes to the economy. /s



e pluribus unum
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Mr645
Date: May 03, 2023 11:16AM
Quote
Speedy
Quote
Mr645
Quote
Speedy
Quote
Mr645
Biden wants $2 trillion in spending, Republicans want much less.

Personally I lean toward the Republicans, the spending has to stop.

To get this to pass, Biden has to lobby/bribe 5 Republicans

Gee, it seems Congress has already passed the spending measures and the president has signed them into law. Why do Republicans always want to break the law when we have a Democratic president? Republicans don’t do this when there is a Republican president.

The country is broke, $32 trillion in debt, we have to stop spending. 8% of all federal income goes toward interest on the debt. Time to tighten the belt

Don’t authorize the spending in the first place if you want belt tightening.
Exactly, we have to tighten our belt, Debt was out of control, then COVID hit, the spending has to stop.



"No Comment"
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: Mr645
Date: May 03, 2023 11:18AM
Quote
pdq
Quote
Acer
These calls for cuts are going to hurt the plans presented elsewhere on this board vis a vis firearm homicide. Better mental health support, arming and training teachers, hardening of security at soft targets and more prison space for the longer sentences for the violently inclined--these things all cost money.

Well, we wouldn’t cut those things. Or Defense. Or my Social Secuity check. And keep government’s hands off of my Medicare.

Just the “waste”. Or any money that goes to people who aren’t me.

The only real area left with enough budget to make a difference is military. Taxes really need to go back up, government needs to tighten the belt across the board, we need big cuts to military spending and foreign aid. When the credit card is maxed out, you don't go out for steak dinner



"No Comment"
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: GGD
Date: May 03, 2023 01:30PM
How about focusing on the states that get more federal aid than they collect in federal taxes.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: DeusxMac
Date: May 03, 2023 01:49PM
Quote
GGD
How about focusing on the states that get more federal aid than they collect in federal taxes.

That's just crazy talk!



[rockinst.org]
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: pdq
Date: May 03, 2023 02:12PM
Quote
Mr645

The only real area left with enough budget to make a difference is military. Taxes really need to go back up, government needs to tighten the belt across the board, we need big cuts to military spending and foreign aid. When the credit card is maxed out, you don't go out for steak dinner

Foreign aid is not much; less than 1% of the budget. And the biggest recipient over the years (on average) is Israel.

Good luck getting the GOP to endorse those cuts, or to defense.

This is another manufactured crisis. Just like every other time during my life, when the Dems win the WH, they reduce the deficit spending orgy the last GOP president engaged in.

And now suddenly (again!) the GOP holds the whole country hostage over their new-found concern.

RollingEyesSmiley5
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: gabester
Date: May 03, 2023 02:26PM
Quote
Mr645
The country is broke, $32 trillion in debt, we have to stop spending. 8% of all federal income goes toward interest on the debt. Time to tighten the belt

Our annual GDP is $23 trillion. What you're saying is that we should move out of the family home because the mortgage is 40% greater than our family income?

Lots of folks are financed into homes that are integer multiples of their annual income - e.g 3x to 5x is a common range.

This is a false flag argument!



g=
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: AllGold
Date: May 03, 2023 03:22PM
Quote
Mr645
Quote
pdq
Quote
Acer
These calls for cuts are going to hurt the plans presented elsewhere on this board vis a vis firearm homicide. Better mental health support, arming and training teachers, hardening of security at soft targets and more prison space for the longer sentences for the violently inclined--these things all cost money.

Well, we wouldn’t cut those things. Or Defense. Or my Social Secuity check. And keep government’s hands off of my Medicare.

Just the “waste”. Or any money that goes to people who aren’t me.

The only real area left with enough budget to make a difference is military. Taxes really need to go back up, government needs to tighten the belt across the board, we need big cuts to military spending and foreign aid. When the credit card is maxed out, you don't go out for steak dinner

Yet Republicans are categorically opposed to both cuts to the military and higher taxes. They're even opposed to keeping taxes the same but giving the IRS the resources needed to collect the taxes actually owed by wealthy tax cheats.
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Re: "House Democrats Move to Force a Debt-Limit Increase as Default Date Looms"
Posted by: pdq
Date: May 03, 2023 03:28PM
...and a number of countries have similar or higher Debt-to-GDP ratios than we do (including Japan, Italy, and the UK):



As stated before, this is a manufactured, fake crisis.
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