And that scientists bring back unicorns. Everyone likes unicorns.
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Thereâs plenty of time to switch them back.
Plus if history is any indication whatâs the point unless you need the money immediately?
For example there was that huge drop at the beginning of the year that has all been made up since then.
Same thing happened in 2008 a year or two down the line.
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And then Republicans sweep the midterms by showing that Biden is a poor steward of the economy because he failed to prevent them from sabotaging itâŚ
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(Ahem.)
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Because they are unrelated.
Raising the debt ceiling is just a legal acknowledgement that the government will pay the debts it has already incurred.
It has nothing to do with future spending.
Congress shouldâbut likely wonâtâamend the law to automatically keep the debt ceiling a certain percentage above the current debt and interest.
It would solve the problem permanently.
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I never recovered what I lost in 2008. My kitty was much smaller and my base going forward was smaller as a result. Size matters.
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And everyone should just chill, anyways. After the âbig scareâ of 600 points down yesterday, itâs regained over 400 points today⌠These swings are becoming the norm, nothing to stress about, and every âanalystâ that points to one-day swings and says itâs this or that thing is blowing smoke out their ass.
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Howâs your pet unicorn doing?
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At this point I just donât care about the dynamics of Manchinâs state. And I certainly donât care about Sinemaâs BS, straight up using the Democratic party for her own conflicted personal gain. The President needs to start using his pulpit to tar and feather these mfâs. Continuing to tolerate their BS is going to destroy him and his party.
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This is the problem
Republicans Are Refusing To Raise Debt Ceiling But Mainstream Media âBoth Sidesâ It | Crooks and Liars
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Really, we should just demand they actually abide by the law. Spending bills require certain funds be spent. The Fourteenth Amendment says that the validity of the public debt of the United States cannot be questioned, ie, itâs illegal for us to not pay our debts. The debt ceiling bill doesnât prohibit Congress from spending money. It canât, because Congress canât actually restrict the actions of a future Congress, because that future Congress is just as sovereign as the one trying to limit it. So the law prohibits the Treasury from borrowing money. Which means it calls into question the validity of our public debt. Which⌠is illegal.
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The CNN business page is particularly egregious in this regardâat least in the headlines.
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House Republicans Are Unanimously Cool With Risking Debt Ceiling Implosion
House Repubicans are without any other effing choice.
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Which will achieve what, exactly? Do you think Joe Manchin will suffer any backlash in a state Biden lost by a stupidly large margin over âJoe Bidenâs mad at meâ?
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Youâd think this would be a good time for the âproblem solvers caucusâ to step up to the plate and show us all how the âgrown-upsâ go about keeping the government from defaulting.
I mean paying the bills youâve already incurred is the definition of fiscally prudent, so there should be no trouble assembling a bipartisan majority that will side step the filibuster easily. Right? I mean who would call themselves a king maker if they canât deliver the votes?
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The only people who canât remember how this plays out are the GQP base.
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May I state, once again, my visceral hatred of #moscowmitch and his colleagues? Are they really going to allow the United States of America to default on its obligations? Of course not, but they are going to squeeze every advantage out of this fight that they can. They are disgusting people who care nothing about those who elected them. They only respond to their donors.
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Joeâs time would be better spent negotiating with Manchin and Sinemaâs paymasters.
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And, you know, constitutionally mandatory.
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