USA CityNews At the unusual time Democrats push to salvage rid of the debt ceiling


Democrats pushed to eliminate the debt ceiling allow unlimited government borrowing Democrats say it's dangerous for Republicans to demand spending cuts as a condition of raising the borrowing limit dozens of house Democrats have proposed legislation that would eliminate the debt ceiling which would allow the.

Government to borrow without any limit set by Congress the federal government hit the 31.381 trillion dollar debt ceiling last week and House Republicans are pushing for commitments to cut back on the record growth in federal spending before agreeing to allow more borrowing but Democrats accuse Republicans of.

Setting up the possibility of prohibiting a debt ceiling hike which would make the government unable to fund all of its current obligations Democrats say a better idea is to eliminate all limits on federal borrowing and allow the government to borrow whatever it needs weaponizing the debt ceiling and using.

It as a pawn and partisan budget negotiations is dangerous and repeatedly brings our nation to the brink of default which would be disastrous to the U.S economy something we've witnessed as recently as 2011 when Republicans created a debt ceiling crisis that resulted in the first ever downgrade to the U.S credit rating said.

Representative Bill Foster Democrat Illinois the government has an obligation to pay its bills he added threatening to default on our debt is the same as ordering an expensive meal at a restaurant eating it and skipping out without paying we can and should have a real.

Conversation about overall spending but the full faith and credit of the United States must never be compromised Foster's bill is the end the threat of default act and it's co-sponsored by 42 house Democrats including Representatives promulad J Paul of Washington Sheila Jackson Lee of Texas Jerry Conley of Virginia Rashida claib.

Of Michigan and Barbara Lee of California the Biden Administration and its Democrat allies in Congress have argued that raising the debt ceiling does not allow new spending and only allows the government to meet its current obligations but Republicans say Congressional.

Approval of new spending programs is what has repeatedly forced the government to keep hitting its borrowing limit which has then forced Congress to keep raising the debt ceiling before the housing crisis in 2008 the total national debt was nine trillion dollars an amount that more than tripled to more than 31 trillion dollars in less.

Than 15 years thanks to programs related to the housing bailout 20 years of military presence in Afghanistan covet emergency response measures and routine funding increases for defense and social programs kova drove federal spending to record high levels and the government continues to spend near those levels even though.

The emergency has abetted the federal government spent 4.4 trillion dollars in fiscal year 2019 just before covet hit spent 6.5 trillion dollars in fi 2020 6.8 trillion dollars in fi 2021 and 6.3 trillion dollars in fi 2022 while President Biden last year said the pandemic is over the government is still.

On Pace to spend more than six trillion dollars in the current fiscal year while Biden is Seeking a blank check Republicans this week noted that in 2011 Vice President Joe Biden championed the idea of bipartisan negotiations on the debt ceiling Biden was quoted in a 2011 Washington Post story saying that everyone wants an.

Agreement on the debt ceiling that bends the curve on long-term debt the treasury Department said last week that now that the debt ceiling has been reached it will temporarily halt funding for federal worker retirement plans in order to avoid new borrowing and has set an increase in the debt ceiling will be needed by the summer.

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