Famed Venture Capitalist David Sacks puts it this way āHouse Republicans have passed a debt ceiling increase but it requires Biden to agree to a 1% annual growth cap, claw back unspent COVID-19 aid, and stop his student debt relief plan, which is probably unconstitutional anyway. Some of these controls on spending would be sensible but Biden wonāt negotiate so weāre headed for a game of chicken as the American economy drives off a cliff.ā
Current GOP goal is to limit spending increases to 1%/year.
That is extremely unlikely to pass into law.
When dealing with idiots an buttholes (borrow-and-spend libs) you can
a.) Pretend you are dealing with reasonable people, and propose philosophically-correct solutions that are, in reality, pie-in-the-sky, or
b.) You can look reality in the eye. Suck it up. Take oneās head out of oneās own butt. Be a man & deal with reality, the way the cards really have been dealt.
"Rain drops should be made of gummi bears . . . . so I am going to pretend raindrops really are made of gummi bears " is not reality-based leadership. It is not reality-based budgeting.
Given Bidenās big about face he is clearly playing games hoping a win in the media will work to his advantage. (He spent much of his Congressional career voting against carte-blanche increase in the debt ceiling. To suddenly forget that is beyond senile . . . it is Orwellian.)
For their own part, the GOP could also be portrayed as not negotiating in good faith.
In the past, yes, the parties would do thisā¦would push all responsibility for raising the debt ceiling onto the other party and vote no for some political reason.
The difference between those times and 2014 and now 2023?
Every time they voted no like that, they knew the other party had the votes to raise the debt ceiling on their own, so they could be partisan and yet know the debt ceiling would pass anyway.
Whenever we have had divided government, when both parties NEEDED to vote yes to raise the debt ceiling, then both parties did soā¦except in 2014 and 2023.
Those two years, the debt ceiling was held hostage to try and wrangle concessionsā¦both times it happened to be the GOP that held the debt ceiling hostage.
And thatās wrongā¦because the debt ceiling is about past spending, not future spending.
If it had been the Democrats who had done that those two times, I would have said the same thing.
The debt ceiling is about past expenditures, not future expenditures. You want to force spending concessions? Do it during budget discussionsā¦you have the same power to do so then and you arenāt risking a default.
The whole reason a debt ceiling, and periodic renewal/renegotiating is legally required is because it is bad policy to simply give carte-blanche authority to run-up unlimited debt without periodic review and discussion.
If Joe Biden wants to end debt ceiling negotiations he can easily propose changing/amending the 1939 law requiring them.
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By NPR count, this is the 78th time since 1960 congress and the WH have negotiated this. It is beyond stupid to suddenly cry āNo fair if you donāt give me a blank checkbook you are destroying the American economy.ā
By GOP count, Joe Biden voted seven times against raising the debt ceiling unless strings were attached.
It was a virtue signaling vote, but only done when thereās no danger of bad consequences.
You think all times the Dems joined in and passed a debt ceiling increase when Trump was President, that meant they were signaling they agree DP with his policies?
Of course not.
Politicians virtue signal all the time. As long as no harm comes of it, whatever.