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Biden turned out to be wiser and more skillful than most 2023-06-02 7 - deficit
A big win for Biden and McCarthy! That's how the sausage 2023-06-01 24 - deficit
And after all that, it really doesn't reduce the deficit 2023-05-31 7 - deficit
314-117 - not even clo 2023-05-31 9 - deficit
Those who speak do not kn 2023-05-30 7 - 1 deficit
Congratulations to the Freischütz Caucus! They 2023-05-29 16 - 1 deficit
Did you think the debt limit was about McCarthy vs Bid 2023-05-29 11 - deficit
We're getting close to the confidence-breaking-poi 2023-05-22 8 - deficit
Maybe Biden knew all along how it would end - McCarthy 2023-05-19 10 - 1 2 deficit
There's no point in negotiating with somebody who has no 2023-05-14 12 - 1 deficit
Want to do something about the Federal budget defic 2023-05-06 14 - deficit
Debt ceilings and continuing resolutions - political 2023-04-01 9 - deficit
So what if it costs somebody else $11 billion? Think of 2023-11-17 3 - deficit

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UPDATED Fri Jul 19 12:14:01 PM PDT 2024

==========


Biden turned out to be wiser and more skillful than most
commentators gave him credit for.      He defanged the
Freischütz Caucus, and avoided the debit limit crisis,
and the annual budget-shutdown crisis, all until the
next Congress, and gave McCarthy enough small wins that
McCarthy might be willing to try bipartisan compromise
again, instead of Freischü

 https://apnews.com/article/joe-biden-debt-limit-budget-36bd8dbb08192ba7f7507cab16184d93

And the same for McCarthy!

#PS1deficit


=====

impact 0
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posted 2023-06-02
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title Biden turned out to be wiser and more skillful than most
topic deficit
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posted "06/02/2023 21:06"
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title Biden turned out to be wiser and more skillful than most commentators gave him
type Links
URL https://www.facebook.com/politicalscrapbooknet/posts/1944103822600794

==========


A big win for Biden and McCarthy!   That's how the sausage
gets ma

Biden achieves his two greatest objectives -

1) not being blamed for the economic fallout from a debt
limit freeze

2) no more debt limit theatre until the next Congress -
so the current Congress can get back to work - relatively
speaking.

McCarthy achieves his two greatest objectives -

1) not being blamed for the economic fallout from a debt
limit freeze

2) no new taxes or enhanced IRS enforcement against the
megadonor class.

To understand the significance of the last victory,
remember that McCarthy rose to power on his ability to move
money from GOP megadonor investors to GOP House candidates.
Those megadonors have been able to out-lawyer the IRS for
many years thanks to GOP starving the IRS, and McCarthy
announced that protecting those megadonors was his #1
priority for this Congress.

 https://thehill.com/newsletters/business-economy/3806111-on-the-money-mccarthy-pushes-to-cut-irs-funding/

As usual he and the rest of the GOP pretended their concern
was for small taxpayer, but small taxpayers don't pay for
big political campaigns.

So it really wasn't about the budget deficit after all,
but about defending minority rule.     Crippling IRS
enforcement increases the deficit.    Refusing to consider
changes to the 2017 megadonor tax relief bill increases the
deficit.      Even the plan to increase work requirements
increases the deficit.

 https://apnews.com/article/debt-bill-default-work-requirements-food-stamps-a42064f794b4466903ca06ca140b9013

But all those were acceptable prices to pay to protect
minority rule.

 https://apnews.com/article/debt-limit-biden-mccarthy-senate-house-default-b8c3566b0c9cb168d9706aa256e327f7

And no, the GOP REALLY doesn't want anybody to know who
funds their unlimited dark campaign money.

The end result - Biden and McCarthy maximized their chances
of getting through this budget cycle unscathed, and thus
re-elected, in order to face each again in 2025 over the
same issues.    Better 2025 than 2024!

Perhaps someday a Democratic Congress will repeal the
debt limit and set up automatic continuing resolutions,
to avoid continual brinksmanship around these issues.
As for the budget deficit?    Everybody agrees that runaway
Federal spending is a problem - except in THEIR district.

==

Possibly the biggest win of all was putting a big crimp
in the gun of the Freischütz Caucus which had convinced
almost everybody that McCarthy was in their back pocket.
Much like the sudden re-evaluation of the Russian army
after its hasty withdrawal from Kyiv.

Maybe everybody had it backwards - the Caucus was in
McCarthy's back pocket all along, they just didn't know
it until now.    We'll see when it comes to passing budget
appropriations later this year.

As far as passing the budget goes, it SOUNDS like - if
Congress doesn't pass a budget on time this fall, there's
an automatic continuing resolution with a 1% budget cut.

 https://www.factcheck.org/2023/05/debt-limit-agreement-breakdown/

If that's true, that's good news - no government shutdowns
until the next Congress - another crimp in the Freischütz
gun.    Maybe they've finally shot their seventh bullet.

 https://www.alternet.org/the-house-freedom-caucus-were-the-biggest-losers-of-all-in-the-debt-ceiling-battle/

#PS1deficit

 https://apnews.com/article/debt-limit-biden-mccarthy-senate-house-default-b8c3566b0c9cb168d9706aa256e327f7


=====

impact 0
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posted 2023-06-01
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title A big win for Biden and McCarthy! That's how the sausage
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==========


And after all that, it really doesn't reduce the deficit
by enough to noti

 https://www.cnn.com/2023/05/31/politics/debt-deal-spending-decisions-analysis/index.html

It's all smoke and mirrors to obscure the reality that the
deficit is  not going to shrink without increasing taxes,
cutting defense spending, social security, and medicare,
but few GOP legislators are willing to risk their careers
by putting forward a realistic proposal.

#PS1deficit


=====

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posted 2023-05-31
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title And after all that, it really doesn't reduce the deficit
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posted "05/31/2023 21:05"
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URL https://www.facebook.com/politicalscrapbooknet/posts/1942776822733494

==========


314-117 - not even clo

The Freischütz Caucus has suffered an unexpected strategic
defeat, much like Putin at Kyiv, and their thunder
might not rattle centrist nerves as much in the future.
And they might not be able to unseat McCarthy as Speaker,
though they will surely try.

 https://www.washingtonpost.com/business/2023/05/31/debt-ceiling-deal-house-vote-bill/

 https://apnews.com/article/debt-limit-biden-mccarthy-house-votes-9375cce9b7526b2d0a5728f8d4a18a0a

#PS1deficit


=====

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posted 2023-05-31
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title 314-117 - not even clo
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posted "05/31/2023 20:05"
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title 314-117 - not even clo
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URL https://www.facebook.com/politicalscrapbooknet/posts/1942768432734333

==========


Those who speak do not kn

Those who know do not speak?

 https://www.washingtonpost.com/politics/2023/05/30/mccarthy-chip-roy-speaker-deal/

It seems that nobody knows or speaks for sure.

But getting the NEXT debt limit crisis postponed at least
to the next Congress is a victory for common sense and
the global economy - and for Biden - and a defeat for the
Freischütz Caucus - and they know it and will fight it,
and will take out their frustration on McCarthy if they
can - leading to another fit of Congressional paralysis
trying to elect a new Speaker - not as good as a default,
but a paralyzed Congress is still a win for the Freischütz
Caucus.

A paralyzed Congress can't pass any bills threatening
minority rule.

As the saying goes, McCarthy knew the Freischütz
Caucus.were snakes when he jumped into their pit.

#PS1deficit


=====

impact 14
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posted 2023-05-30
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posted "05/30/2023 22:05"
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==========


Congratulations to the Freischütz Caucus!     They
have successfully fought the Federal budget crisis by
threatening default, shaking the financial markets and
global confidence in the dollar, making Federal debt
interest rates go up, and thus - INCREASING the Federal
deficit without passing a single bi

 https://www.washingtonpost.com/opinions/2023/05/28/debt-limit-deal-budget-differences/

#PS1deficit


=====

impact 5
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posted 2023-05-29
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==========


Did you think the debt limit was about McCarthy vs Bid

 https://www.washingtonpost.com/politics/2023/05/28/this-low-profile-committee-could-sink-or-save-biden-mccarthy-deal/

Think again!    It's about McCarthy vs the Freischütz
Caucus.     He let them into the guard tower and gave
them plenty of ammo, hoping - against all experience -
that they would aim at Biden instead of, rather than in
addition to, McCarthy.

Perhaps McCarthy should have limited them to seven bullets.

#PS1deficit


=====

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posted 2023-05-29
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title Did you think the debt limit was about McCarthy vs Bid
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==========


We're getting close to the confidence-breaking-poi

 https://www.get-to-sixty.net/

But we're going to keep repeating this scenario until the
debt limit is repealed for good.

 https://www.nytimes.com/2023/05/20/business/economy/debt-limit-default-economy.html

So Biden would do well to announce that he will gladly sign
a bill  to repeal the debt limit entirely, or he'll hold
his nose and sign a bill that combines explicit specific
budget cuts in exchange for kicking the can down the road
at least as far as 2025, for the next Congress.     The
Democrats can't get the former past the House, and the GOP
can't get the latter past the Senate, so Biden shouldn't
stay up late waiting for something to sign.     But having
names on roll-call votes will be useful for both parties
at the next primary and general elections.   You can't
compromise with fanatics - they take it as weakness and
redouble their demands - as with the right-to-lifers.

Then when the last day comes, Biden should accept the
premium bond or platinum coin tricks to avoid default,
and let the House GOP sue or impeach.     Being a one-term
president would be a small sacrifice compared to burying
the debt limit ploy once and for all.

#PS1deficit


=====

impact 0
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posted 2023-05-22
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title We're getting close to the confidence-breaking-poi
topic deficit
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posted "05/22/2023 15:05"
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==========


Maybe Biden knew all along how it would end - McCarthy
having no cards to deal, there could be no deal, and if
there were, we'd just have the same crisis again, just in
time for the electi

 https://www.berkshireeagle.com/opinion/columnists/paul-krugman-how-biden-blew-it-on-the-debt-ceiling/article_03607912-3f6d-597d-9754-5b46a0835caa.html

So despite all the misdirection, which might have been
intentional, Biden might  be willing to do the premium
bond or platinum coin tricks after all, to avoid default,
and then it will be up to the Supreme Court to defend
McCarthy's minority rule when the issue is brought to them.

 https://www.nytimes.com/article/debt-limit-14th-amendment.html

The 14th amendment has just such a clause for just such
a purpose as the present - Dixiecrats wanting to force
minority rule by threatening to blow up the economy -
and then blame the other party.    The other party was the
Republican then and the Democratic now, but the Dixiecrats
never changed substance, only label.

#PS1deficit

 https://www.berkshireeagle.com/opinion/columnists/paul-krugman-how-biden-blew-it-on-the-debt-ceiling/article_03607912-3f6d-597d-9754-5b46a0835caa.html


=====

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posted 2023-05-19
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title Maybe Biden knew all along how it would end - McCarthy
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==========


There's no point in negotiating with somebody who has no
cards or chips to negotiate with, except threatening to
overturn the table and saying the other guy made him do it.
McCarthy has even less room than Boehn

 https://nytimes.com/2023/05/10/us/politics/biden-obama-debt-limit.html

#PS1deficit


=====

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posted 2023-05-14
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title There's no point in negotiating with somebody who has no
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==========


Want to do something about the Federal budget defic

You could repeal part of the GOP billionaire tax relief
of 2017 - but GOP megadonors won't like that.    Better to
raise taxes on poor people - there are more of them.

You could reduce agricultural subsidies - but GOP
megadonors won't like that.    Better to reduce SNAP
benefits for poor people.

 https://www.washingtonpost.com/opinions/2023/05/05/congress-farm-bill-subsidies-debt/

Defending minority rule requires constant vigilance against
handouts to the improvident poor!

#PS1deficit


=====

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posted 2023-05-06
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title Want to do something about the Federal budget defic
topic deficit
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==========


Debt ceilings and continuing resolutions - political
theater that needs to st

 https://www.get-to-sixty.net/

It's not about tearing up the credit cards.    It's about
announcing to the banks that you are not going to pay off
the debt you already charged.

Does Kevin McCarthy really want to end his career and
be remembered for causing default?   No Henry Clay he -
most GOP want a showdown and they'll get it.    At least
give Mitt Romney credit for seeing the folly of it.

 https://apnews.com/article/biden-mccarthy-debt-ceiling-fight-47539399db37f44d47eff47386a28ddc

GOP refuses to say what they want to cut - they want the
Democrats to propose cuts, so GOP can criticize those,
or the Democrats to refuse to negotiate, so the debt limit
takes effect and the GOP can blame them for that.

Of course, the fastest way to reduce the deficit would
be to repeal the GOP billionaire tax relief of 2017 -
practically their only accomplishment under Trump.
But instead of repealing, they want MORE of the same.

 https://www.one-flat-tax.net/

Democrats should vote to repeal the debt ceiling entirely
and shut down this theater permanently - as soon as they
can find the votes.     It'll be easier after GOP trades
the stability of the global economy for appearances on Fox.

#PS1deficit


=====

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posted 2023-04-01
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title Debt ceilings and continuing resolutions - political
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==========


So what if it costs somebody else $11 billion?     Think of
all the air time the anarchists get on F

 https://www.washingtonpost.com/business/2023/11/17/government-shutdown-washington-preparations/

It's way past time to repeal the deficit ceiling and enact
permanent continuing resolutions when Congress refuses to
act.     But the Freischütz Caucus will never relinquish
its power voluntarily.

#PS1deficit


=====

impact 0
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posted 2023-11-17
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title So what if it costs somebody else $11 billion? Think of
topic deficit
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posted "11/17/2023 18:11"
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