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Debt Ceiling Deal is Like Throwing Money Out The Window

  • DC is throw­ing mon­ey out the win­dow while every­one is look­ing the oth­er way get­ting ready for the sum­mer. McCarthy and Biden reached a deal. 
  • Andrew Clyde: The “Fis­cal Irre­spon­si­bil­i­ty Act” will man­date NO LIMITS on spend­ing until Jan 2025. This UNLIMITED almost 2‑year debt ceil­ing increase is a SPENDATHON. IF the great­est threat to Amer­i­ca is our debt, then this agree­ment dras­ti­cal­ly increas­es our great­est threat. 
  • MTG: The debt ceil­ing fight has nev­er been our only chance. This is a game of inch­es and we have the momentum. 
  • US Debt default only 6 days away. It’s not true. There will not be a default in amer­i­ca. White House, GOP lead­ers scram­ble for votes to pass a compromise. 
  • Prag­mat­ic House Repub­li­cans sup­port debt deal, Dusty John­son says. 
  • All of a sud­den MTG is being prag­mat­ic. They iden­ti­fy every­one. It is incre­men­tal­ism. He want­ed to explain to you and I that we are cut­ting costs every day. Com­mer­cial prop­er­ties are emp­ty. Hous­ing sales are com­ing to a halt. But what we don’t under­stand is incre­men­tal­ism. And we have to put this win in our pock­et and get anoth­er one.  The democ­rats get every­thing they want. This is a game. Democ­rats won. There is no deal. We gave him a chance. But McCarthy caved. Here is what will hap­pen. This is not a bud­get cri­sis. This is extend­ing the debt ceil­ing until 2025. The debt ceil­ing, remem­ber Eliz­a­beth War­ren want­ed to total­ly elim­i­nate it so they could have end­less spend­ing. Noth­ing is cut. It is only a shell game. We are still send­ing bil­lions to Ukraine that Biden helped cre­ate. The debt ceil­ing is just that… it is a ceil­ing that we have put in place that we can’t go any longer. Mean­ing we can’t call the fed­er­al reserve to print more mon­ey. Every­thing they put out is in the exten­sion of the debt ceil­ing, the green new deal. The Amer­i­can peo­ple do not win if it goes through. We can­not con­tin­ue to print mon­ey over and above what we take in. 
  • It’s a game of inch­es… incrementalism. 
  • Dems told to say debt ceil­ing bill rejects GOP’s extreme demands. Democ­rats are being told that they aren’t get­ting any­thing out of the deal. The talk­ing points are out. 
  • Today at noon the House Free­dom Cau­cus will hold a press con­fer­ence on the pro­posed Biden-McCarthy debt lim­it deal. 
  • The democ­rats most­ly won the debt ceil­ing fight. 
  • Tar­get los­es $10B in mar­ket cap in 10 days and stock falls to its low­est trad­ing val­ue in a YEAR in the wake of its Pride “tuck-friend­ly’ swimwear line as Ted Cruz slams the chain for not under­stand­ing or respect­ing customers. 


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