Debt ceiling drama already here (deal allegedly reached)

LOL. Like there are any true conservatives left in America. Least of all Rand Paul.

 

Same guy that said months ago he would not negotiate, man he sure jumped at the chance to reach out.

 

He knew that the nut jobs in congress were not going to give in, and McCarthy had to have some cover. What little bit Biden gave up, he’d probably have to give up anyway when budget negotiations start in a couple of months. The minimal amount he gave up is far superior than calling republicans bluff and tanking the economy.

 

It’s still a horrendous precedent, because the nutjobs will just come back to the debt ceiling well again and again like they already do with “government shutdowns”.

Additionally as a real default would be so economically destructive (in likely unpredictable ways), I’m trying to figure out who amongst the donor class would be in favor of it? Seems like only foreign adversaries or prepper nut jobs could be in favor. Anyone with even the slightest stake in the U.S. economy couldn’t possibly be in favor of default (excepting the possibility they are an idiot). For that reason i thought Biden should have called their bluff.

 

The freedom caucus nutjobs are not serious people. I’m pretty sure they would be quite happy to go into default. One I don’t think they really get it, or just don’t care, and even if the economy tanked, they are in deep red safe seats and they’ll just blame it on Biden. So you can’t count on almost all republicans giving in. It just wouldn’t happen.

Then it comes to McCarthy, and whether he’d allow an open vote. He would have to make a decision, do I want to do what is right for the country, or do I want to keep my speaker job?. Do you really trust that he would make the right choice?

The whole 14th amendment deal is fraught with perils and risks market meltdowns due to the uncertainty - do you trust scotus to back Biden, and if they don’t does that mean the debt issued after June 5th is invalid?

Politically you can never tell how these things shake out. People probably blame republicans short term but long term if the economy is tanked voters tend to blame the party of the president. And if Biden refused to negotiate then it makes him look responsible.

Giving McCarthy some cover, giving up modest measures that you would have to give up anyway in 3 months, and punting the debt ceiling issue until 2025 is a pretty good compromise, all things considered.

 

Ole Brandon rolled McCarthy and picked his pockets.

 

You don’t understand what the word compromise means do you? They both caved in a little.

 

That’s funny you cheer for Biden because he compromised, yet chided the Pubs because they forced his hand to do so when Biden was the one who tried to force things though by INITIALLY saying he wasn’t going to negotiate. That’s a heads of a way to set the tone.

Side note go look at the US budget and see how it’s exploded over the last 5-6 years. Certainly due to covid it was expected to jump, even the most ardent budget hawk understands this. We shut much of the country down and people had to eat, etc. But why hasn’t it dropped back closer to pre-pandemic spending levels?
Sure tax changes have had an effect on the debt but you can’t ignore the budget as well.
If I’m not mistaken we are at spending levels near all time highs when compared to GDP(close if not higher than WW2 levels).

 

Don't celebrate too quickly though, mccarthy got butt raped so bad, bill may not make it through the house.

 

With the timing going the way it is, it will be this deal or no deal, and in that case, I expect many Dems to also vote for the deal. So the FreeDUMB caucus can pull their stunts, it just won't change the outcome.

 

Biden has demonstrated measured leadership whether he had both houses with 2 democrats that look like republicans or a split house. He's pragmatic and getting things done.

 

Probably the nature of a centrist budget that there will be fallout on both sides. However finding enough moderates might be tough. I am always amazed at this 1 minute moving graphic.

 

Very cool. Thanks for sharing.

 

In this case, I wouldn’t call “not letting terrorists intentionally crash the U.S. economy” as getting things done. Although the fact that this is where we are has little to do with Biden, it’s just part of the slow motion trainwreck that our politics (esp on the right) has become.

 

I guess we'll differ because that is exactly what I would call getting things done. The GOP's bark has been way louder than it's bite with Biden. I think part of it sits in his ability to not take anything personally and just shaking his head at the nonsense. I've grown to respect the 5th choice on my democrat primary ticket during his administration. He isnt perfect but he is competent. I could list dozens of things he could be do better and hundreds worse.

 

We know you’re all a twitter over sleepy Joe

 

Seems weird to compare to a time when the US was downgraded by rating agencies. Plus the market was more beat up going in. In fact, I am 100% positive that I cannot predict what will happen.