Calmes: Only Republicans want to keep this silly charade over the debt limit (via latimesopinion)
federal debt is attributable to tax cuts and spending during Donald Trump’s presidency, including initial rounds of pandemic relief. Republicans controlled the Senate for those four years, and the House for two. Trillions more date to George W. Bush’s administration, when Republicans also ruled Congress for most of his two terms, and reflect the costs of deep tax cuts, two wars and a new Medicare drug entitlement.
The debt ceiling, as we know it, dates to 1917. Until then, Congress had authorized the Treasury Department to borrow for specific purposes. in the past decade Congress flirted with default by budget brinkmanship. Yet all three times that Congress lifted the ceiling during the Trump administration, Democrats provided support to make the actions bipartisan.that Republicans are opposing an increase because of Democrats’ “reckless taxing and spending spree.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Europe has ‘limited’ direct exposure to Evergrande’s debt crisis, Lagarde saysIt comes at a time when global stock markets are on high alert over Evergrande's massive debt problems.
Read more »
Goldman Sachs says a government shutdown would hit these stocks the hardestAs a debt limit showdown brews in Washington, history shows certain stocks could be hit hardest if a government shutdown occurs.
Read more »
The Republicans' debt-ceiling ransom note finally comes into focus.MaddowBlog: The conventional wisdom is that Republicans, unlike their earlier debt-ceiling crises, haven't yet presented Democrats with a ransom note. That's not true.
Read more »
AP EXPLAINS: Why the debt limit is again roiling WashingtonWASHINGTON (AP) — The idea of the U.S. government breaching its “debt limit” sounds scary. But what, exactly, are lawmakers in Washington fighting about? The debt limit is a nearly century-old artificial cap that Congress placed on the U.S.
Read more »
Why the debt limit fight makes Washington a stock-market ‘wild card’The potential for another white-knuckle flirtation with a U.S. default via a debt-ceiling showdown is helping to raise policy uncertainty. The good news, is...
Read more »
As debt limit looms, U.S. Senate Democrats see showdown vote next weekWASHINGTON (Reuters) -The U.S. Senate aims to vote next week on raising Washington's borrowing authority and keeping the government funded, the chamber's No. 2 Democrat said on Wednesday, as a House Democrat warned that Republican opposition could lead to a historic default on the nation's debt. Senator Dick Durbin said the chamber sometime next week would take up the bill passed in a party-line House of Representatives vote. Senate Republican leader Mitch McConnell has said his caucus will sink the emergency legislation to suspend the $28.4 trillion federal debt ceiling.
Read more »