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Republicans are the only ones to blame for prolonging the inevitable raising of the debt ceiling.
Really? C’mon, you can do better than that…
I love it caught the White House by surprise. I wonder how long these politicians think they can blow up the balloon until there are repercussions.
You can tell this article was written by WaPo…. shame on IBJ
Is it because it literally says that in the byline?
I’m embarrassed for you for not knowing how to read a newspaper
Well, maybe we need to look at what the article said…increased spending, revenue (tax) cuts, increased debt, and the inability of the political process to resolve this without brinksmanship.
So, increased spending…much of it over the past few years (since 2020) attributable to the pandemic bailouts, and new federal spending on infrastructure. There’s been other spending, for certain, but a lot of it went to these two very broad categories. So maybe interstate bridges, and other rail and road bridges around a country with more “D” and “C” rated bridges than “A” and “B” bridges, will finally get fixed. Ask Philadelphia and the East Coast what happens when a key bridge falls…
Revenue Cuts…well, that’s pretty much on one party, and one party only. The Donald Trump years saw a lot of tax cuts. Targeted at corporations and very high income earners. The Rs deliberately left the individual cuts for the future (the future is now) because they knew their tax cuts for their leash holders would mean none for the non-1%.
And the final cause…political brawling over debt ceilings. Interestingly, this didn’t happen when Trump was in the WH, and Republicans controlled the Congress. Ceiling raised every time, no muss, no fuss. Now those same R politicians just got worried about debt. A debt they largely build, and even with the Biden new spending plans, the deficit (current spending vs. taxes) is declining, which should reduce the debt (accumulated deficits).
Was the WH surprised? Probably. The economy is improving, inflation is falling, the deficit is falling, and there is a rough political plan to keep the country out of default. Biden has again been sandbagged…
Just stop it with the debt. It’s all fake funny money. 31 trillion, 31 million trillion. Doesn’t matter.