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Tue Dec 7, 2021, 07:22 PM

Democrats, Republicans say they've reached deal to avert another debt ceiling crisis

Source: Washington Post

Top Democrats and Republicans signaled Tuesday they had clinched a deal to raise the countryís debt ceiling, settling on a complicated legislative maneuver to help them stave off another high-stakes battle and prevent the U.S. government from experiencing a catastrophic default.

The apparent compromise arrived eight days before a critical fiscal deadline, averting what would have been another political and economic crisis. Senate Majority Leader Charles E. Schumer (D-N.Y.) and Senate Minority Leader Mitch McConnell (R-Ky.) each expressed a measure of confidence that they had the votes to proceed with their plans, while Speaker Nancy Pelosi (D-Calif.) put the House on track to adopt the measure Tuesday evening.

The deal itself does not directly raise the debt ceiling but rather sets up a smoother process that allows Democrats in the narrowly divided Senate to accomplish the task without GOP support. The two sides had been at loggerheads over the issue for months, with Republicans refusing to lend their must-have votes to raise the borrowing cap, in protest of President Bidenís economic agenda.

Democrats decried Republicansí stance, especially since the party provided the votes necessary to address the debt ceiling even when President Donald Trump pursued policies they disliked. In the end, though, GOP lawmakers at least paved the way for Democrats to meet the fiscal deadline without risk of disruption or delay, potentially by raising the cap high enough to last through the 2022 midterms.

Read more: https://www.msn.com/en-us/news/politics/democrats-republicans-say-theyve-reached-deal-to-avert-another-debt-ceiling-crisis/ar-AARzinU

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Reply Democrats, Republicans say they've reached deal to avert another debt ceiling crisis (Original post)
Yo_Mama_Been_Loggin Dec 7 OP
cstanleytech Dec 7 #1
Bernardo de La Paz Dec 7 #2
bucolic_frolic Dec 7 #3
IronLionZion Dec 7 #4
IbogaProject Dec 7 #5

Response to Yo_Mama_Been_Loggin (Original post)

Tue Dec 7, 2021, 07:41 PM

1. My idea of a deal would be that the Republicans agree to commit ritual

seppuku on national television 5 minutes after they offer an abject apology for the betrayal and damage they have done to the country in their quest for power at any price.

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Response to Yo_Mama_Been_Loggin (Original post)

Tue Dec 7, 2021, 08:00 PM

2. American Exceptionalism. We don't have this problem in Canada


Sorry, we just don't.

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Response to Yo_Mama_Been_Loggin (Original post)

Tue Dec 7, 2021, 08:04 PM

3. So we own it, lock, stock, and barrel

Anything you say will be used against you.

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Response to Yo_Mama_Been_Loggin (Original post)

Tue Dec 7, 2021, 08:26 PM

4. Manufactured crisis

if only Congress could find something better to do than repeat this nonsense every few months. I suppose they're expecting someone else to fix their own created processes and procedural rules.

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Response to Yo_Mama_Been_Loggin (Original post)

Tue Dec 7, 2021, 10:06 PM

5. We need to break out the R & D parts of the debt

All their debt w the annual interest payments we year split by the shares up to the prior year. They must be 60, 70, 80% of the total by now.

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