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Sat Jun 3, 2023, 03:16 PM

Omaha Steve (95,705 posts)

Biden signs debt ceiling bill that pulls US back from brink of unprecedented default

Source: AP

By CHRIS MEGERIAN an hour ago

WASHINGTON (AP) — With just two days to spare, President Joe Biden signed legislation on Saturday that lifts the nation’s debt ceiling, averting an unprecedented default on the federal government’s debt.

The White House announced the signing, done in private at the White House, in an emailed statement in which Biden thanked congressional leaders for their partnership.

The Treasury Department had warned that the country would start running short of cash to pay all of its bills on Monday, which would have sent shockwaves through the U.S. and global economies.

Republicans refused to raise the country’s borrowing limit unless Democrats agreed to cut spending, leading to a standoff that was not resolved until weeks of intense negotiations between the White House and House Speaker Kevin McCarthy, R-Calif.

Read more: https://apnews.com/article/joe-biden-debt-ceiling-budget-signing-f78a000d83cf85ffbaa2d08637844053

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19 replies	Author	Time	Post
Biden signs debt ceiling bill that pulls US back from brink of unprecedented default (Original post)	Omaha Steve	Jun 2023	OP
Wish I could say it makes me happy	SouthernDem4ever	Jun 2023	#1
And after ward, martial law	peppertree	Jun 2023	#2
don't see the connection between the 14th and martial law	SouthernDem4ever	Jun 2023	#3
There isn't any - except in the minds of the aforementioned presidents	peppertree	Jun 2023	#6
He tweeted out a clip of the signing	BumRushDaShow	Jun 2023	#4
Republicans failed on Jan 6 and again June 3, but just barely. What next?	housecat	Jun 2023	#5
What's next is this same clusterfuck on January 1, 2025 with the same cast of characters	Novara	Jun 2023	#13
True, but he DID negotiate with terrorists, and he defused them. I'm betting the terrorists will	housecat	Jun 2023	#16
IMO they didn't lose.	Novara	Jun 2023	#17
True, but this or any deal bought us time and prevented immediate economic meltdown.	housecat	Jun 2023	#19
This makes me smile	LetMyPeopleVote	Jun 2023	#7
He's smiling too, because he knows what he is doing	housecat	Jun 2023	#15
It's almost too bad he wasn't forced to do an end run, invoking	Warpy	Jun 2023	#8
Debt limit scam indeed	BOSSHOG	Jun 2023	#10
Don't you mean the dictatorial power of (their) church over the state?	Warpy	Jun 2023	#12
You are right	BOSSHOG	Jun 2023	#18
I'm glad that they got 2 years worth out of it....	DemocraticPatriot	Jun 2023	#9
A Truman quote seems appropriate during this debt ceiling business:	Music Man	Jun 2023	#11
I knew they would not default	Farmer-Rick	Jun 2023	#14

Response to Omaha Steve (Original post)

Sat Jun 3, 2023, 03:38 PM

SouthernDem4ever (4,490 posts)

1. Wish I could say it makes me happy

Repugs would have invoked the 14th amendment if they were in the White House.

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Response to SouthernDem4ever (Reply #1)

Sat Jun 3, 2023, 03:41 PM

peppertree (20,456 posts)

2. And after ward, martial law

Both Dubya and Cheeto openly mused with the idea - but were thwarted by the Pentagon in both cases.

Cheeto, especially - and unlike Dubya, he still obsesses over "missing that chance when I had it."

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Response to peppertree (Reply #2)

Sat Jun 3, 2023, 04:11 PM

SouthernDem4ever (4,490 posts)

3. don't see the connection between the 14th and martial law

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Response to SouthernDem4ever (Reply #3)

Sat Jun 3, 2023, 05:05 PM

peppertree (20,456 posts)

6. There isn't any - except in the minds of the aforementioned presidents

The way despotic presidents see things, being able to resort to one gives them the tacit permission to pull the other one.

They don't see 14th Amendment emergencies as an emergency or a last resort (as Biden would) - they see it as the door being opened for more. Much more.

Luckily, it's not all up to them. The Pentagon and intelligence community have a lot to do with whether they can impose such things or not.

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Response to Omaha Steve (Original post)

Sat Jun 3, 2023, 04:20 PM

BumRushDaShow (118,458 posts)

4. He tweeted out a clip of the signing

Link to tweet

President Biden
@POTUS
·
Follow
I just signed into law a bipartisan budget agreement that prevents a first-ever default while reducing the deficit, safeguarding Social Security, Medicare, and Medicaid, and fulfilling our scared obligation to our veterans.

Now, we continue the work of building the strongest… Show more
2:19 PM · Jun 3, 2023

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Response to Omaha Steve (Original post)

Sat Jun 3, 2023, 04:56 PM

housecat (2,950 posts)

5. Republicans failed on Jan 6 and again June 3, but just barely. What next?

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Response to housecat (Reply #5)

Sun Jun 4, 2023, 09:05 AM

Novara (5,117 posts)

13. What's next is this same clusterfuck on January 1, 2025 with the same cast of characters

Remember, a new Congress does not get sworn in until January 3, 2025. That means the same arsonists will be demanding MORE concessions by January 1, 2025 and some of them will be lame ducks, with nothing to lose.

If Biden wins in 2024, he will start his second term with either a default or a Constitutional crisis if he invokes the 14th amendment. You can be sure the arsonists will be demanding steep cuts to social security and medicare, especially those with nothing to lose. They're going to go for broke.

If Biden doesn't win, he faces dealing with the terrorists and the choice of leaving a default for the next R president (who may then declare a national emergency and fuck knows what else), or he leaves office with more of the social safety net demolished.

THIS IS WHY YOU DON'T NEGOTIATE WITH TERRORISTS.

He should have invoked the 14th and fought it out in court.

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Response to Novara (Reply #13)

Sun Jun 4, 2023, 11:41 AM

housecat (2,950 posts)

16. True, but he DID negotiate with terrorists, and he defused them. I'm betting the terrorists will

lose again, because they just aren't very smart.

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Response to housecat (Reply #16)

Sun Jun 4, 2023, 04:39 PM

Novara (5,117 posts)

17. IMO they didn't lose.

McCarthy has already said to anyone who will listen that he will keep going after Medicare and Social Security.

Losing would be if they got nothing.

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Response to Novara (Reply #17)

Mon Jun 5, 2023, 12:17 PM

housecat (2,950 posts)

19. True, but this or any deal bought us time and prevented immediate economic meltdown.

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Response to Omaha Steve (Original post)

Sat Jun 3, 2023, 05:08 PM

LetMyPeopleVote (136,257 posts)

7. This makes me smile

Link to tweet

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Response to LetMyPeopleVote (Reply #7)

Sun Jun 4, 2023, 11:36 AM

housecat (2,950 posts)

15. He's smiling too, because he knows what he is doing

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Response to Omaha Steve (Original post)

Sat Jun 3, 2023, 05:33 PM

Warpy (108,974 posts)

8. It's almost too bad he wasn't forced to do an end run, invoking

the fourteenth amendment and making the debt limit scam obsolete and irrelevant, as it should be.

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Response to Warpy (Reply #8)

Sat Jun 3, 2023, 10:14 PM

BOSSHOG (35,408 posts)

10. Debt limit scam indeed

Get rid of it along with

The electoral college scam and

The separation of church and state scam

Republicans need scams to govern because they know stupid people can’t figure them out and republicans don’t know how to govern in the land of the free without them. (Scams and stupid people.)

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Response to BOSSHOG (Reply #10)

Sun Jun 4, 2023, 12:02 AM

Warpy (108,974 posts)

12. Don't you mean the dictatorial power of (their) church over the state?

The separation clause is no scam. The founders knew what religious charlatans were like and they wanted them nowhere near civil government.

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Response to Warpy (Reply #12)

Sun Jun 4, 2023, 08:49 PM

BOSSHOG (35,408 posts)

18. You are right

And I’m guilty of counterintuitive thought. But Republicans are allowing that power right now to a lesser degree but currently unchecked. Public money to schools and state funded anti abortion operations. Catholics spent over 4 mil of tax exempt bucks in Kansas trying to codify their religious belief relative to abortion. (Wasted money, they got their butts kicked) Book bans, anti gay nonsense from coast to coast. The Bishops will forge ahead. If the separation were gone, the assessors would be turned loose. Zealots will pay to play or we will find out what they really value. Long, long shot but it would be a useful conversation to put in the public arena. Food for thought. They have the Supreme Court for now but we almost lost the war of 1812 as well. So, onward. If Bishops don’t respect the separation, why should we? They got the best of both sides with the status quo.

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Response to Omaha Steve (Original post)

Sat Jun 3, 2023, 08:37 PM

DemocraticPatriot (2,617 posts)

9. I'm glad that they got 2 years worth out of it....

That's probably the biggest reason the "Fascist Caucus" is screaming about it--
they wanted to hold us hostage again next year...

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Response to Omaha Steve (Original post)

Sat Jun 3, 2023, 10:21 PM

Music Man (1,168 posts)

11. A Truman quote seems appropriate during this debt ceiling business:

"I sit here all day trying to persuade people to do the things they ought to have the sense to do without my persuading them. That’s all the powers of the President amount to.”

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Response to Omaha Steve (Original post)

Sun Jun 4, 2023, 09:41 AM

Farmer-Rick (9,236 posts)

14. I knew they would not default

The filthy rich own the debt and our government.

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