Members phkrause Posted June 6, 2023 Author Members Posted June 6, 2023 What Does the Debt-Ceiling Agreement Say About the U.S. Political System? The bipartisan deal showed that the government is still capable of avoiding a self-inflicted disaster, but a credit-ratings agency warns it is suffering from slow rot. https://www.newyorker.com/news/our-columnists/what-does-the-debt-ceiling-agreement-say-about-the-us-political-system? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60
Members phkrause Posted June 7, 2023 Author Members Posted June 7, 2023 GOP hardliners revolt and derail McCarthy’s agenda in retaliation over speaker’s debt limit deal Speaker Kevin McCarthy kicked off a closed-door meeting on Tuesday morning with a plea to his members: Let’s move on from last week’s debt ceiling drama and focus on the “next play.” https://www.cnn.com/2023/06/06/politics/republican-revolt-mccarthy-rule-vote/index.html? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60
Members phkrause Posted June 9, 2023 Author Members Posted June 9, 2023 Debt limit law sets up 'enormous' stakes for the 2024 election with deadlines for default, Obamacare and Trump tax cuts WASHINGTON — The newly enacted debt ceiling law all but assures that the winner of the 2024 presidential election and the next Congress will face another potentially calamitous default deadline soon after taking office. https://www.nbcnews.com/politics/congress/debt-limit-law-sets-enormous-stakes-2024-election-rcna87918? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60
Members phkrause Posted July 25, 2023 Author Members Posted July 25, 2023 💰 Biden fires warning shot on spending cuts President Biden today threatened to veto two of House Republicans' first spending bills, accusing Speaker Kevin McCarthy (R-Calif.) of reneging on the debt ceiling deal that Congress passed last month. Why it matters: Conservatives are pressuring McCarthy to enact deeper cuts than the budget caps agreed to in the debt ceiling deal, pushing for spending levels that the White House says would "endanger critical services for the American people." State of play: House Republicans are planning to bring the two appropriations bills to the floor this week — one funding military construction and the Department of Veterans Affairs, and the other funding the Department of Agriculture and the FDA. Both are packed with the GOP's culture war priorities, including provisions restricting abortion rights, gender-affirming health care, and diversity, equity and inclusion initiatives. The House's spending bills are largely a partisan messaging exercise and have no chance of making it to Biden's desk in their current form, given Democrats' control of the Senate. The big picture: With McCarthy focused for now on pacifying conservatives — and facing the threat of a moderate rebellion over abortion provisions — the odds of an October government shutdown are growing. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60
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