This could have been hammered out months ago, but, instead, the Biden regime said they wouldn’t negotiate on something that has long been negotiated
Kevin McCarthy: ‘Didn’t See Any New Movement’ on Debt Ceiling Negotiations
House Speaker Kevin McCarthy (R-CA) said on Tuesday after he met with President Joe Biden he “did not see any new movement” on a potential debt ceiling deal.
McCarthy and Senate Minority Leader Mitch McConnell (R-KY) held a press conference after their meeting with Biden, Senate Majority Leader Chuck Schumer (D-NY), and House Minority Leader Hakeem Jeffries (D-NY).
“I didn’t see any new movement,” McCarthy revealed. He said that everyone in the meeting “reiterated” their positions that they have long held. He added that staff will continue to negotiate. (snip)
McCarthy chided Biden for waiting 97 days for Tuesday’s negotiations. He said the Republican debt ceiling bill, the Limit, Save, Grow Act of 2023, would raise the debt ceiling in a responsible manner and boost economic growth.
Biden doesn’t want to give up all that stuff pass without any Republican help, even though most of it fails to help the economy. His a true ideologue, and doesn’t seem to understand that politics is a give and take.
How Might the Government Avoid Default? Biden Offers Clues.
Nearly two hours after the end of what appeared to be a fruitless meeting between President Biden and Republican leaders this week over raising the federal debt limit, Mr. Biden finally offered a hint as to how the government might avoid a catastrophic default.
Actually, it was two hints, contained in an impromptu news conference in the Roosevelt Room. For the first time, Mr. Biden signaled he was open to clawing back some unspent stimulus money included in the economic rescue bill he signed in 2021 during the pandemic. That suggested a potential starting ground for compromise between the president and Republican lawmakers, who have refused to raise the nation’s borrowing limit without deep spending cuts, and who have pushed to rescind some stimulus funds. (snip)
The second clue was not about possible compromise — it was the opposite. The president acknowledged that he is considering what would effectively be a constitutional challenge to the very existence of the debt limit. It is a unilateral path that Mr. Biden conceded could face legal hurdles. But his comments suggested that if Congress could not find a deal to raise the debt limit on terms acceptable to Mr. Biden — and before the nation runs out of cash to pay its bills — the president might be prepared to try to avoid default on his own.
“I am considering the 14th Amendment,” Mr. Biden said, referring to a clause in the Constitution that stipulates that “the validity of the public debt” issued by the U.S. government “shall not be questioned.” Some constitutional scholars contend that clause requires the government to continue issuing new debt to pay bondholders, effectively overriding the nation’s statutory borrowing limit, which is controlled by Congress.
Wouldn’t it simply be easier, and more responsible, to negotiate? Take the bill the GOP let House (which has the power of the purse strings) offered, make some offers to remove/add some stuff and remove/add others. That’s negotiation. No one will get everything they want. Biden is acting more like a dictator.
But Mr. Biden said the move was under consideration regardless, and he punctuated that thought at the end of his remarks on a potential default. “I will do everything in my power to avoid it,” he said.
Biden and McCarthy’s people plan to meet today and Friday, and then the two are planning on meeting Friday. However, the smart money is on Biden blowing out of D.C. Friday afternoon to head to Delaware and do nothing.
It is only a matter of time now before the Republicans totally surrender. It’s what they do. I’m sure Mr. McCarthy’s spine was only on loan and will need to be returned soon.
For the record, “Default” doesn’t mean what it used to mean. Back in the old days, governments had to borrow money from people who actually had money, and then pay it back to those people. If they defaulted, those lenders would lose their investment.
But today, there are no lenders who have the TRILLIONS of dollars our government demands every year. The Chinese, Saudis, and major banks in the USA have all the paper bonds they can hold and don’t want a single billion dollars worth added. So instead the government “borrows” from the Fed, who creates the money from thin air. So, if the Government defaults, then the thin air doesn’t gat paid back. No one is harmed. No one cares. As long as the Fed has unlimited access to additional thin air, the government can continue “borrowing” it without any effective limit. The government could choose to default on only those trillions it owes to the FED and continue paying debt owed to China, JP Morgan, and others international banks. Nothing bad would happen. So, it is an empty threat that default would be bad.
Note: It is a constitutional right granted to Americans that they be permitted to declare bankruptcy and walk away from debt when it becomes overburdening. Corporations do it all the time. It might be useful for the government to do it as well.
Pedo Joe isn’t involved in this. The only negotiations he is part of is what flavor ice cream he’s allowed and the age of his next molestation victim. The people doing this were not elected, and are not accountable and almost all of them are hiding behind the scenes and we don’t know who they are.