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#debtCeiling

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Nonilex

The growing #debt has paradoxically given urgency for #Republicans to pass the bill, as it would raise the federal govt's #DebtCeiling by $4 trillion [something they rail against when there’s a Democratic admin]. That would avert the prospect of #default, which ofcls have warned would come this summer.
Republicans also argued that failure to pass the bill would mean an effective tax hike for some [#wealthy] Americans, as #Trump's 2017 tax cuts are to expire at the end of the year.

#law#economy
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Nonilex

And if the US has to pay more in interest to borrow cash to pay its bills, that could filter out & cause interest rates to rise for US #households & #businesses too, everything from #mortgage rates to #AutoLoans rates to #CreditCards. That could slow the #economy.

…the #credit downgrade does comes ahead of a key period for Washington, where it’s set to debate potential cuts in #taxes for corporations & the wealthy that could suck away more revenue, as well as the nation’s #DebtCeiling.

#Trump
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Go Weapons Hot

"There is one major sign that lawmakers expect to increase the #deficit more with this version: It would raise the #debtceiling by a larger amount than the February version. The debt ceiling limits how much money the federal government is allowed to borrow.

#Congress wants to pass a major package of policy changes using a special reconciliation process that could pass without any Democratic votes in the #Senate."
nytimes.com/interactive/2025/0

#Trump
#MAGA
#taxcutforbillionaires

The New York Times · Here’s What’s in the House Republican BudgetBy Margot Sanger-Katz
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WYM Mod

“Debt ceiling strategy is key for Republicans!” Mike Johnson highlights a critical consensus in the GOP about integrating the debt ceiling into their legislative agenda. This strategic move reflects an understanding of the necessity for unity in tackling financial hurdles. Discover more about the implications of this approach in the full article. #DebtCeiling #GOP #Legislation #FinancialStrategy politico.com/live-updates/2025

Kudos to Politico for this insightful piece!

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Nonilex

…The wrinkle in the effort is the #DebtCeiling, which limits how much the government can borrow. Faced with this roadblock, the #Treasury is using cash from its account at the #Fed to pay bills, which is adding liquidity into the system. When the #debt ceiling is raised, assuming that happens, the Treasury will likely seek to rebuild its account, which will take liquidity back out of the system.

#economy#inflation#USpol
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Megaphone :verified:
Rep. Thomas Massie (R-KY), known for his staunch fiscal conservatism, is making it clear: he’s a firm #NO on the #Republican #debt plan.

In a C-SPAN interview, #Massie dismantles the party’s own talking points, revealing that even under the most optimistic assumptions, the proposal adds hundreds of billions to the #deficit in the coming years. According to Massie, leadership’s numbers show a $328 billion increase in 2025 alone—with no real plan to control spending beyond vague promises of future restraint.

Having served in #Congress for 12 years, Massie has seen multiple so-called “10-year plans” under #Boehner and #Ryan—none of which ever played out as promised. He remains skeptical that this time will be any different.

With the deficit skyrocketing and fiscal responsibility on the line, Massie’s message is clear: empty promises won’t fix #America’s #economic future.

#ThomasMassie #FiscalResponsibility #DeficitSpending #DebtCrisis #NoMoreDebt #GOP #RepublicanParty #Congress #StopSpending #CSPAN #PoliticalAccountability #GovernmentWaste #NationalDebt #DebtCeiling #BudgetBattle #DCPolitics #TruthMatters #PoliticsUnfiltered
#politicsunfiltered
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DrBob, Neurologist, 🧠Mechanic

Middle class screwed yet again 🤬

Medicaid, Social programs Out; Tax cuts for #Billionaires In

Debt Ceiling up $4 trillion

House Republicans advance plan for Trump's legislative agenda

What's in the House plan?

“The House's plan would set up a massive reconciliation bill that would extend #Trump's 2017 tax cuts and implement new ones at a cost of $4.5 trillion.

It would also allocate $300 billion for spending on defense and border security, would raise the #debtceiling by $4 trillion over two years, and add almost $3 trillion to the federal deficit over 10 years.”

usatoday.com/story/news/politi

Text Shot: Potential cuts to Medicaid, other benefit programs The budget blueprint would also direct multiple committees to cut billions of dollars, including $880 billion in cuts spearheaded by the Energy and Commerce Committee. Because Trump has ruled out cuts to Medicare and Social Security, experts say that may necessitate cuts to Medicaid, which is under the committee's jurisdiction. The Education and Workforce Committee, which has jurisdiction over education programs, school lunch programs and work requirements for Temporary Assistance for Needy Families (TANF) program, would be directed to cut $330 billion. The Agriculture Committee, which has oversight over farm programs and the Supplemental Nutrition Assistance Program, would be required to cut $230 billion from programs under its jurisdiction. House
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A Guy Named Brian (he/him)

“A debt ceiling breach would have damaging economic consequences.

But a congressional stalemate over the debt limit could also provide the Trump administration with an opportunity to further aggrandize and legitimate its usurpation of Congress’s spending power.”

#Politics #USPolitics #DebtCeiling #USConstitutionalOrder #USCongress #MuskCoup #DemocracyVsOligarchy #DemocracyVsAutocracy

America’s constitutional crisis could come to a head in four months - Vox apple.news/A-KjP4PgcTPSPmrin4n

apple.newsAmerica’s constitutional crisis could come to a head in four months — VoxJust over two weeks into his presidency, Donald Trump has already thrown American democracy into crisis.
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