The Unted States Debt Ceiling IS gonna be increased in the end….
THAT is NO secret….
There will be media drama….
But as usual?
Congress WILL figure something out ….
Even the House Republicans proposal which will be DOA to the Us seante and President Biden ackn owleges that…
House Speaker McCarthy and his group are searching for their ‘plan’….
The one talked about now involves cuts that Democrats will be hard to accept….
The emerging GOP framework could raise the debt ceiling into 2024, covering roughly $2 trillion in spending, according to three people familiar with the matter, who spoke on the condition of anonymity to describe private conversations about a fluid process. In exchange, that proposal would reduce spending at federal health-care, education, science and labor agencies to levels adopted in the 2022 fiscal year, amounting potentially to a roughly $130 billion cut. Those agencies also would be subject to new spending caps, which would limit future budget increases to around 1 percent over the next decade, the sources said.
Republicans further hope to use the legislation to roll back Biden’s recent student debt cancellation plan, recover unspent coronavirus aid funds and advance legislation to pave the way for more oil and gas drilling. And GOP leaders hope to introduce new work requirements for low-income Americans who receive federal aid, including those enrolled in the food stamp and Medicaid health-insurance programs.
“If you don’t have money to pay for things, you don’t ask for an increase in the credit card,” said Rep. Scott Perry (R-Pa.), the leader of the far-right House Freedom Caucus, which has aggressively sought significant spending cuts. “We’re looking at a pretty robust rescissions package that will save us a fair amount of money.”….