US House Republicans back 3-month debt limit increase (via AFP)

The House of Representatives will vote next week to temporarily raise the US debt limit for three months, the chamber’s leadership said Friday as Republicans leaned toward resolving a protracted fiscal impasse. The move would help defuse a time bomb that Congress and the White House face in late February…



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slamfu
Guest
slamfu
3 years 8 months ago

Wow 3 whole, entire months, that’s as far as you guys can kick the can? Oh and tying passing a budget to Congress not getting paid is genius. Like that is the main issue with not raising the debt ceiling. Well played Mr. Cantor, well played.

cjjack
Guest
cjjack
3 years 8 months ago
Reminds me of the long, protracted battles I had with equally intractable foes over an issue as hard fought as any in the halls of Congress: Bed time. If you’re a parent, you know what I’m talking about. Kids will do just about anything to avoid going to bed on time. You set the deadline, and when it approaches, inevitable negotiations/tantrums/foot-dragging starts. Even after bed time has arrived, the kid is in bed, and you think maybe you finally won the fight for once…”dad, can I have a glass of water?” And so another few minutes is gained against the… Read more »
JIM SATTERFIELD
Member
3 years 8 months ago

And the GOP is, of course, the party that was constantly complaining about how businesses weren’t doing many things because of uncertainty. Now delivering uncertainty by the ton is their specialty.

SteveinCH
Guest
SteveinCH
3 years 8 months ago

But a three month increase pays for all the spending that has been approved to date since we’ve only approved spending through March 27 by a continuing resolution.

So now that Republicans have agreed to pay for all the spending they’ve approved, our friends on the left are upset?

How very odd.

dduck
Guest
dduck
3 years 8 months ago

Yep.

JIM SATTERFIELD
Member
3 years 8 months ago

Well, actually I think we’re upset because it just means that based on recent history it just means that they think they can put off their next extortion attempt for three months. Not very odd at all.

SteveK
Guest
SteveK
3 years 8 months ago
But a three month increase pays for all the spending that has been approved to date since we’ve only approved spending through March 27 by a continuing resolution. So now that Republicans have agreed to pay for all the spending they’ve approved, our friends on the left are upset? How very odd. Actually that’s NOT what it does. The pending approval of raising the ‘debt ceiling’ merely covers the cost of ‘servicing’ the existing debt without taking into consideration upcoming expenses the congress has already committed to and promised to pay. Until there is an increase in revenues (i.e. increased… Read more »
SteveinCH
Guest
SteveinCH
3 years 8 months ago
The Congress has authorized expenditures through March 27 and that is all. You may not like that but that’s the reality of the situation. Sure, as Congress authorizes more spending, the ceiling will need to increase further. Of course, they could choose to authorize less spending or raise taxes more. The increase in the ceiling covers all the spending Congress has authorized to date. It clearly doesn’t cover all the spending they may authorize in the future but that’s a different thing. With no additional spending, the ceiling would not increase. Perhaps you are confusing budgeted spending and authorized spending… Read more »
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