Home / News / House Passes Bill To RAISE Debt Limit And Spending Cuts — Time For Tough Love

House Passes Bill To RAISE Debt Limit And Spending Cuts — Time For Tough Love

  • House pass­es bill to raise the $31 tril­lion debt lim­it in exchange for gov­ern­ment spend­ing cuts: Repub­li­cans set up a clash with Biden by win­ning a nail bit­ing 217–215 vote after tense nego­ti­a­tions. After days of polit­i­cal wran­gling, the house repub­li­cans vot­ed to pass their sprawl­ing debt lim­it bill. 
  • Noth­ing says reduce the debt, every­thing talks about the deficit. The coun­try col­laps­es now or what day would you like to pick? Do you want to do it now or for our grand­kids? Some­one is get­ting it. Kevin is in a no win sit­u­a­tion right now. We can’t blame Kevin for the no win and the cor­rupt admin­is­tra­tion he is up against. 
  • This is what Kevin is up against. What does Biden’s new mort­gage rule mean for you? How home­own­ers with good cred­it scores will pay hun­dreds of dol­lars more while those who don’t pay their bills on time will save $6000. The admin­is­tra­tion won’t even talk with Kevin and all they spout is equi­ty.  All the net­works are say­ing that Biden says that he wants a clean debt ceil­ing and then he will talk about spend­ing cuts. 
  • US debt lim­it increas­es 59 times under repub­li­can pres­i­dents and 29 times under demo­c­ra­t­ic pres­i­dents. House GOP pass­es debt lim­it bill hop­ing to force Biden to the table. The Debt ceil­ing was hit on Jan 19th, $31.4 tril­lion. We hit the debt ceil­ing in Jan. What does the col­lapse mean? How the US debt default could impact you by increased bor­row­ing costs and could effect social secu­ri­ty pay­ments, vet­er­ans’ ben­e­fits, and fed­er­al employ­ee salaries. 
  • Why don’t we get rid of the Depart­ment of Ed, the IRS cuts? 
  • Pos­si­ble debt default effects could trig­ger mar­ket crash­es, crush busi­ness and con­sumer con­fi­dence, cause a reces­sion, tank trea­suries, and inter­est rates spike. Isn’t all this already hap­pen­ing? There’s a nov­el idea. Put pol­i­tics aside and get this done for the Amer­i­can peo­ple. What if inter­est pay­ments become the top pri­or­i­ty. Let’s say on a cer­tain date we have the income tax com­ing in to only pay the inter­est pay­ment, not to pay the mil­i­tary, the seniors. Where do the inter­est pay­ments go? Would it be the fed­er­al reserve? What hap­pens if we don’t make the pay­ments? Do we default on the debt to Chi­na or to the fed­er­al reserve? What hap­pens here? 
  • White House on GOP debt ceil­ing bill pas­sage, “In our his­to­ry, we have nev­er default­ed on our debt or failed to pay our bills… WE are not a dead­beat nation… We pay our bills. Con­gres­sion­al repub­li­cans must do that again now and act to avoid default.”  or delay sober­ing up. We are like the drunk uncle that knocks on the door for anoth­er $10 and will sober up next week. 
  • Chuck Schumer: “The repub­li­can default on Amer­i­ca Act is DOA in the sen­ate. It’s a ran­som note to the Amer­i­can peo­ple to suf­fer the repub­li­can rad­i­cal, right-wing agen­da or suf­fer a cat­a­stroph­ic default. Democ­rats won’t allow it.”
  • McCarthy’s debt ceil­ing plan would include rescind­ing unspent COVID funds, ban­ning Biden’s stu­dent loan for­give­ness pro­gram, repeal­ing green ener­gy tax cred­its, killing new IRS fund­ing, work require­ment for some fed­er­al aid pro­grams, bring­ing non-defense spend­ing down to 2022 lev­els, cap­ping future spend­ing increas­es at 1% annu­al­ly. Kevin McCarthy and repub­li­cans didn’t tell Bri­an Kemp to make deals with Chi­na on the EV bat­ter­ies. He is back­ing on the green ener­gy tax credits. 
  • It is time for tough love. 

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