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#DebtCeiling

1 message1 participant0 message aujourd’hui
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Kim Perales

"This is really about Russian alignment. Trump isn't delivering on their agenda.

It's really clear that the central beef b/w Musk &Trump is over the debt ceiling. & Russia is on Musk's side. If we manage to avoid default amid all this chaos it will be a miracle."
@davetroy

Cheering for either Trump or Musk is foolish, but the breakup rhetoric is entertaining & revealing. As much as we want Trump out, Thiel's Vance is waiting in the wings.
#Trump #Musk #RussianAssets #Putin #DebtCeiling #USPol

A screenshot of a Twitter exchange featuring Elon Musk commenting "Wise words" in response to a tweet by Donald Trump. The tweet from Trump expresses his embarrassment about Republicans extending the debt ceiling and identifies as a Republican.
A reposted tweet by Elon Musk discussing the need for a new spending bill that doesn’t significantly increase the deficit or the debt ceiling by $5 trillion.
A tweet by Elon Musk urging people to contact their Senators and Congressmen, expressing opposition to a bill that he believes would bankrupt America. The text emphasizes the call to action and includes the phrase “KILL the BILL.”
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Brian Harrod

FORGET ABOUT DEBT LIMITS Trump Pushes to Scrap Debt Ceiling Causing #ElonMusk To Go Into Attack Mode

x.com/GetTheDailyDirt/status/1

President #DonaldTrump is calling for the elimination of the nation’s debt ceiling, a rare point of agreement with Democratic Senator #ElizabethWarren.

In a #TruthSocial post, Trump wrote, “The Debt Limit should be entirely scrapped to prevent an Economic catastrophe.”

The #Trump echoed Warren’s Friday X post, where she....

#DebtCeiling#TrumpWarren#EconomicPolicy
A répondu dans un fil de discussion
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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
Suite du fil
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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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CaliCarol

@GossiTheDog

And so once again I ask "the dog that didn't bark" question: what happened to the debt ceiling?

When the grownups in the Biden Administration handed the keys over to the Trump regime, they told us that we'd start bumping up against the debt ceiling days after Trump took office. Not only is DOGE not saving money, the government is spending more. Where are they stealing money from to pay our creditors?

#uspol#SocialSecurity#DebtCeiling
Suite du fil
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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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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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Ben Royce 🇺🇦

Anyone else old enough to remember when the #GOP used to yell and scream about the #debt?

He's going to blow up the #American #economy like a fucking pump and dump #crypto #scam

We're so fucked

"#Trump calls for abolishing the #debtceiling"

nbcnews.com/politics/donald-tr

It's ok though:

#FoxNews will just explain to #MAGA dumdums that it's the #Democrats fault. And they will nod along in sage agreement and problem solved

NBC News · Trump calls for abolishing the debt ceilingPar Garrett Haake
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Laffy

Via The Recount:

Treasury Secretary Janet Yellen said today she “strongly disagrees” with #Fitch downgrading the U.S. #creditrating from AAA to AA+ and called it “puzzling” and “unwarranted”: “Its flawed assessment is based on outdated data and fails to reflect improvements across a range of indicators...” (Watch here)

JPMorgan Chase CEO Jamie Dimon today called the Fitch downgrade “ridiculous,” but said it “doesn’t really matter.” Dimon also said: “We should get rid of the #DebtCeiling.”

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DoomsdaysCW

Supreme Court clears way for #MountainValleyPipeline construction to proceed

By Ariane de Vogue and Ella Nilsen, CNN
Updated 2:06 PM EDT, Thu July 27, 2023

"The Supreme Court on Thursday cleared the way for construction of the controversial Mountain Valley Pipeline to proceed, granting an emergency request from backers of the project that has the support of Congress and the Biden administration.

"The justices agreed to lift lower court orders that froze construction of the project while legal challenges play out.

"The Supreme Court’s order is a victory for #WestVirginia Sen. #JoeManchin, a conservative Democrat who has championed the project and pushed for it during #DebtCeiling negotiations in June.

"In the brief order, the court offered no extensive reasoning and no dissents were noted.

"The order came as the White House announced new actions to combat #climate-fueled extreme heat, which has been baking cities in the Southwest for weeks before moving Northeast on Thursday.

"Despite #ClimateActivists urging the #Biden administration to stop approving #FossilFuel projects like the #MountainValley Pipeline, White House officials have been supportive of the pipeline since it was first introduced in Congress last year. More recently, administration officials including White House senior adviser #JohnPodesta and Energy Secretary #JenniferGranholm voiced support this year for the pipeline’s approval.

"The White House did not immediately return CNN’s request for comment on the Supreme Court allowing the pipeline to proceed."

Read more:
cnn.com/2023/07/27/politics/su

#SCOTUS #Manchin #StopThePipelines #KeepItInTheGround #Oiligarchy #Oligarchy #BigOil #BigOilKnew #ClimateChange #ClimateCrisis

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Nonilex

This time, however, #pipeline advocates had a new federal #law on their side — & in an unusual place. Tucked into last month's deal to raise the #DebtCeiling & avoid default was a provision Sen #JoeManchin insisted on in exchange for his support. In explicit terms, #Congress not only approved the #MountainValleyPipeline, but "#Section234" of the debt ceiling bill also took away the ability of #FederalCourts to hear any remaining challenges to it (um, what?).

#SCOTUS
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