The White House has been unusually public (and repetitive) with its stance on the debt ceiling: that it simply will not negotiate with Republicans on future cost cutting while those same Republicans have a gun to the head of the global economy.
We have $31 trillion of debt. The responsible thing to do would be to get to the table with Republicans and negotiate a way.
The take it or leave it, rescind Trump Tax cuts and Corporate giveaways, then we can talk.
“This is a democracy that we have. We have a two-party system,” Sen. Joe Manchin (D-WV)
True, 2 parties and traitors on one side. FUCK Joe Manchin
I would go even more granular. Mace is a student of journalism and communications, so she shouldn’t be sloppy with numbers. True, total US public debt is $31 trillion, but it has declined every quarter of the Biden administration as has the ratio of public debt to GDP, which spiked sharply in the first year of the covid pandemic.
Private debt to GDP is about 226%. Federal debt to GDP is about 120%.
Adults watch this stuff, and they recommend prudence. It is also entirely possible that the next US financial downturn is triggered by an external shock from, say, China. In that case, all the yelling in the world at Joe Biden won’t change our predicament. Mace should be pushing for prudent fiscal restraint that doesn’t disproportionately fall on the backs of the weakest members of society.
https://www.imf.org/en/Blogs/Articles/2022/12/12/riding-the-global-debt-rollercoaster
What we do know is that countries that continue to pile on debt quickly do end up in crisis. However, if we end up in crisis when in fact we are reducing the debt ratio, that’s pretty much a self-inflicted wound. That’s also a pretty weird kind of divided: “Some of us want to self-harm while others of us don’t. We’re very divided right now.”
Those who say that the Repubs have no leadership agenda are flat wrong!!! They do have an agenda! It’s called PETULANCE.
To be fair, it is
FLATULENCE
Note to Sen. Mansion:
Sir, please retire to your barge and kindly go fuck yourself.
Would she still be welcome in her party if she did?
The ever ignorant press might not remember the last Republican effort to tie raising the debt ceiling to their demands that the budget be cut, but most of us who are older than 21 do The last time did not go well for Republicans. This time won’t either.
The normal budget process gives the Republicans plenty of opportunity to debate significant cuts.
The real problem in this mess is the “leadership” of the Republican house is dominated by extraordinarily inexperienced performance artists who have no interest in or memory of past budget debates. That will make them easily rolled by both Democrats and Senate Republicans. That is their problem.
Zinger of the day…Hat tip
And our, and the country’s, boon.
She should. She’s amassed several million in personal wealth since going to work for the Trump campaign. In a sense, she’s like Sinema, this new wave of female profiteers in government. It’s almost third world, but then South Carolina has third-world features of its own.
OK, but inequitable taxation is all but the leading plank of the contemporary GQP platform.
Backing anything else would, thus, seem to be antithetical to their very purpose.
The Russians have tried this model, with 48% of national wealth accumulated to the top 1%. This is nothing new for Russians – under the czars. However, Vladimir Mau, Putin’s top economic adviser has now left the country, apparently for Israel or France, because he no longer believes that Putin has the crowd control to deal with that kind of inequality. Maybe Mace, Manchin and Sinema see themselves as such small-time grifters nobody will notice. Kelly Loeffler, who probably could give a hoot about politics, did self-enrich and got called on it. Sinema rakes in several hundred thousand a month on top of her measly senate paycheck. Maybe it’s ok, but why not just make a clean break and go to work in the private sector. Selling access and political hit-jobs is just low.
Raising the debt ceiling is a purely ministerial act.
The debt ceiling has nothing to do with A) the budget or B) future spending.
it is merely an acknowledgment that the US will pay the debts it already has accumulated.
Republican efforts to tie it to big spending cuts are both disingenuous and dangerous.
I would think that she stays because she needs to put in some facetime in the Senate. She can’t make buck in the private section without her accumulating some institutional cred.
I also don’t see her using her power as an outlier to get into the room where the discussions are happening. I see her schtick as passive aggressive.
R’s in Biden-friendly districts
R’s who are new
R’s whose victory margins are small
R’s who wish to remain in Congress
These are who we have to deal with
Republicans have avoided the full-throated, public condemnation they deserve by shifting the blame and feigning fiscal responsibility, which some media entities will uncritically amplify.
And which might those be, Kate. No fair keeping schtum.
There’s nothing to negotiate. It’s already been spent.
Try negotiating with your credit card company.
It’s called “bankruptcy.” You pay much higher rates for 10 years after, and have no or limited access to new credit for some/all that time.
