>

My life goes on.
The hostages are squirming too much. What will happen next?
So bored of these constant contrived crises. >

I know. I can’t even take it seriously anymore. Just more republicans throwing a tantrum. >

it's all they ever do. A classroom of Kindergarteners would make better government. >

They would at least ATTEMPT to do their jobs >

No. Thr government  not doing it'd job is the platform they run on
They say they want to make it run better / more efficient / cut everything but they're the csncer that causes the do nothing >

I call it the “Tory strategy.” Intentionally break everything and then go to their supports and say, “see?!? It doesn’t work! Waste of money, let’s eliminate it!” >

Short answer: not much. We've breached the debt limit before - it's really a question of whether or not we default.
The real issue is whether or not we default.
A default would be catastrophic, the end of the US Dollar as the global reserve currency, and would push the country into a recession the likes of which would make 2008-2009 look like a tiny dip.
The caveat to this is that the folks with real money who have Senators, Congresspeople, and the White House on speed dial would be affected SIGNIFICANTLY more than your average person - their assets would lose 50+% of their value basically overnight.
So, the real question is, is enough of the GOP detached enough from reality to force McCarthy to not allow Congress to raise the debt limit and insulated enough from the need for money to push the US into default? Sadly, I think the answer is yes. If McCarthy allows a clean bill, he instantly gets removed by the Crazy Caucus. If he doesn't, he presides over the greatest self-inflicted economic catastrophe in human history.
The closer we get to default, the more interesting the options become, including declaring the debt limit unconstitutional and putting the pin back in the grenade once and for all. >

as I take it, any member can call for a vote to remove, but would still need 218 votes to remove? >

It depends on what rules the house established for itself. There is not set standard and they can change their own rules as they please. I hear the crazy caucus lobbied for single vote removal. Not sure what the final terms actually were. >

Single vote to force restarting the speaker selection process >

Lots of "both sides" points of view being expressed here as wisdom or something. Well the Democrats want to raise the ceiling as is standard practice so the US can pay it's debts, social security, military salaries etc. I'm not sure what the other side is. Can any of you "both siders" enlighten us? >

Sure, but only from my own frustration as a voter and tax payer.  There has been a lot of discretionary spending in this year alone that have real world price tags attached to them that the “just raise the debt ceiling” crowd seems to fail to account for.  Forgive college loans you say then call everyone that asked how it gets paid for assholes for asking how it gets paid for. Blanket donate hundreds of billions of dollars to the military industrial complex so as to equip Ukraine.  Again the mere suggestion that it’s not our war and we’re labeled as Nazi sympathizers.  Then there is the 7000 page omnibus bill to the tune of trillions rammed through congress in 48 hours notably without republican input.  Who here can read 7000 pages of legal documents in less than 48 hours?  By all means don’t acknowledge any of that and just say “just raise the debt ceiling or you’re a piece of shit that wants to burn the whole country down”.  All it’s doing is mortgaging our great great great great grandchildren’s futures.  The money doesn’t just go nowhere.  You don’t want the republicans to cut Medicaid and social security then stop making them have to consider it just so you can get your college paid for when you agreed to the financing.  These are only three examples of course there are more than I can ever point out. >

Good now look up Dems rubber stamps and compare and contrast. >

At least you’re openly admitting you only care about deficits when it’s Dems. >

No I’m not.  You’re inferring that but are wrong.  However in saying so you are openly admitting that you only care about criticizing Republicans.  My strongest political wish is for mutual accountability.  I frankly don’t care if you believe that or not. >

Going back to Reagan, every Republican president has added to the deficit, while every Democratic president has presided over a reduction in the deficit. Asking for mutual accountability when one party is accountable belies your bias. >

Source for the lazy. :) Scroll down to the chart. >

Mainstream Republicans want a default so they can blame Biden, like they blamed Obama for the Great Recession and trying to help people who struggled post-Great Recession. >

If they hadn't emptied the Treasury for COVID support, they might have a viable argument. 

S&L bailout, republicans
Enron,  republicans
mortgage collapse,  republicans
giveaway tax cuts,  republicans 
COVID industry supports,  republicans

Recognize a pattern? >

So what happened during the 117th congress(2021-2023) when democrats controlled both houses and the presidency? Seems hard to believe the republicans got all the accomplished. They are so sneaky though. >

All of that stuff was pre 117th. 
The 117th largely had the ARP, the BIF, and the IRA22 as the main things that were unusually large ticket items, beyond the standard stuff. 
The BIF was largely bipartisan, written primarily by Manchin, Sinema, and a handful of Republicans. With critical spending on critical infrastructure.
The IRA 22 was largely written by the conservative wing of the Ds aka Manchin and Sinema.... and it was roughly budget neutral or slightly positive. I've seen estimates vary of it being like -50B to possibly +200B in terms of net revenue. 
The ARP which spent money on more covid stimulus, and covid vaccines as a large chunk of its spending helped many Americans during the pandemic. 
So it did quite a bit but... nothing really outlandish or as noteworthy towards the current situation (without justification) as the things the other dude listed. >

Anyone have a chart of all the times the republicans raised the debt limit without a fuss while a republican was president? >

Republicans will play political games and screw Americans, same shit, different day! >

We vote in more conservative sleaze bags to drive the debt up further, than point fingers at democrats. Who are actually working to bring our debt down, and stoped by conservatives every step of the way. Just to win political points with people who don’t know any better. >

Can you note an article on the democrats trying lower the debt? I seriously would like to read that. What are the conservative sleaze bags spending money on? Walls, pssff. >

Clinton was actually lowering the debt....  You kissed that goodbye when Bush was elected...  Greenspan saw the govt was actually running at a profit!   How unamerican 
TAX CUT!!   But not so much for the middle class. >

There have been two democratic presidents since Clinton left office in the 90s. >

I have Stockholm syndrome so I am starting to identify with my captors....
Magamagamaga let it all burn.
/s >

In my mind this is point where the nation starts robbing Peter to pay Paul, not a good place to be in. America is financially on fumes right now. Republicans will engineer another shutdown that will get hung around their necks and within a few months they'll ignore like it never happened (because they'll own it). >

Its not on fumes though. Thats also part of the scam. Somehow the country with excess everything is on the verge pf collapse if it doesn’t pay off everyone they owe so that party can payback the US. The world is 500 trillion in debt combined. What planet does earth owe? >

This isn't the first time this has happened. It isn't as much of a end of times scenario as they try to make it out to be.
​
Edit: Don't get me wrong. I am NOT saying it's good. It's gonna affect our credit rating. If it doesn't get fixed soon, Gov't employees will have a hard time getting paid (probably except congress and the senate, who should be the first to not get paid.) >

The difference is you now have a sizable portion of Republicans who want us to default and the Speaker of the House is controlled by them. I expect when the US credit rating is downgraded but before we actually default some Wall Street donors will call up enough Republicans to remove McCarthy and put in a speaker that will allow a clean debt ceiling increase, but without a change in speaker we are going to default >

I am certainly the furthest you could be from a republican and I want them to default. To avoid going into to much nuance I would just say I want them to stop pushing it off on the future. Hemorrhaging resources on a fiat currency and economy that ultimately is a cancer on us. We can use debt all we want if the international markets don't trust our money it wont matter if its a thousand or a million dollars, and since we don't actually produce shit we will have to outsource it to another third world that works pennies on the dollar to try to compensate. What about when there is no third world left? What if we just perpetuate the third world to try to keep our cheap labor market providing the gluttonous country to excess? >

Republicans shut down the government again. >

Seems like a reasonable reaction. >

The bond market collapses, grandma loses her pension and shows up with two suitcases and three pregnant cats that are definitely hangry. >

Screw that throw the cats outside and help grandma with her 5th booster, make sure you get the LaSabre in the will though, they are awesome. >

Ohh no, grandma sold her car because her pastor was selling NFT's of the holy land. She has them in her luggage, framed. >

Make the pain stop. >

House Republicans: "We did not succeed bringing down the US on  Jan 6. But we have another way." >

Brinksmanship, so nothing is going to take place until they actually run out cap space. >

Brinksmanship is what happens when there are sane people at the helm. We've literally never been here before. We've never had this happen while bone fide lunatics have any power. What happens now is kind anyone's guess. >

Likely options:

The U.S. defaults and the global economy collapses in a way unseen in economic history as everyone's USD holdings lose somewhere between 30 and 80 percent of their value.
The administration mints the coin or 14A's the debt, the U.S.'s credit rating drops to junk or near-junk, everyone's USD holdings lose between 10 and 40 percent of their value, Biden's impeached by the crazies, the crazies sue in federal court that the administration had to default under the law and the Supremes agree 6-3 or 5-4.
The monied classes call into Congress to attempt to get a clean debt limit increase through the House, McCarthy and House GOP leadership cave, the crazies raise repeated motions to vacate the chair—which under the new rules are privileged over every other motion—thus running out the clock, the U.S. defaults, see point 1 above. >

Looks like Option 2 is the least damaging overall. >

There is an option 3A: 
If the monied elite scream loud enough, someone will find a way to shut up the crazies, at least long enough to stop a default. >

More posturing BS that results in Americans suffering and no real changes. Ugh. >

Nothing. That is what will happen >

ill offer them a refinance deal with less interest and higher credit line. >

We all watch our 401ks dump like it’s 2020 again. >

I'm sure Sean Hannity has a solution. >

Next Steps are GOP forcing Biden for cuts to raise the Debt Celling dates back to World War I >

What about the $1T coin? Anybody remember the 1T Coin they were going to mint? >

I think obama minted it >

He did not. >

I thought he did >

The same thing that happens every time, pinky: raise the debt ceiling. Stop with this made-up controversy. Let's get on with it and start printing the next "muh debt ceiling" crisis. >

Nothing happens, this deadline was hyped up for nothing, and the house isn't even in session lol
Now they have a couple of months to do the usual >

Don’t they have until, like, June to hammer this out? >

The credit agencies do not like when their interest payments are threatened. Even the rancid odor of this shit show is enough to drop the US's credit rating, and when the credit rating is dropped, interest rates increase.
An increase of interest rates means more tax dollars need to go into repaying the national debt instead of doing things like paying for interstate roads. >


An increase of interest rates means more tax dollars need to go into repaying the national debt instead of doing things like paying for interstate roads.  

If we're just not paying it anyway then who cares what the interest rate is?  Let them raise it to a thousand percent.  A thousand percent of zero is ... ehhh.. hmm..  carry the one... >

What happens now? The same thing as always, a bunch of pearl clutching, hyperbolic statements about the end of the world economy. The GOP will say the only solution to the problem is for the working class to sacrifice, then the dems will give in and say they had no choice. >

They raise like they always do? >

Corruption. >

Stop paying taxes. >

Stop allowing corporations to deduct expenses while calculating their quarterly tax payments.
Problem will be fixed by lunchtime tomorrow. >

Dance around the fire. >

Fucking nothing..it’s not real. >

Let's play brinkmanship >

The ball is in Republicans court. They have the House majority which impacts financial services of the government. If something happens with defaults it is on republicans >

Sure would save a lot if we would stop making politicians millionaires ijs >

Stop spending so much, and increase your income via taxes. >

Republicans turn on Boebert, McCarthy when the market tanks and social security deposits vanish. >

What happens now ?  Republicans will fuck things up. >

What happens is the Democrats and the Republicans figure out which side will get blamed then that side has to budge. >

How are Democrats at fault and why should they budge on not collapsing the global economy? >


2 million illegal's in the country, they use services and don't pay taxes.

Source your assertion. >

I’m picturing the gas station asking if you’re here legally and waiving all the taxes if you say no. Lol. >

My life goes on. >

The hostages are squirming too much. What will happen next?
So bored of these constant contrived crises. >

I know. I can’t even take it seriously anymore. Just more republicans throwing a tantrum. >

it's all they ever do. A classroom of Kindergarteners would make better government. >

They would at least ATTEMPT to do their jobs >

No. Thr government  not doing it'd job is the platform they run on
They say they want to make it run better / more efficient / cut everything but they're the csncer that causes the do nothing >

I call it the “Tory strategy.” Intentionally break everything and then go to their supports and say, “see?!? It doesn’t work! Waste of money, let’s eliminate it!” >

The American right has been doing this all my life. >

And the sad thing is it works on enough folks that, as long as they muck around with the lines redistricting they can still get elected. >

Short answer: not much. We've breached the debt limit before - it's really a question of whether or not we default.
The real issue is whether or not we default.
A default would be catastrophic, the end of the US Dollar as the global reserve currency, and would push the country into a recession the likes of which would make 2008-2009 look like a tiny dip.
The caveat to this is that the folks with real money who have Senators, Congresspeople, and the White House on speed dial would be affected SIGNIFICANTLY more than your average person - their assets would lose 50+% of their value basically overnight.
So, the real question is, is enough of the GOP detached enough from reality to force McCarthy to not allow Congress to raise the debt limit and insulated enough from the need for money to push the US into default? Sadly, I think the answer is yes. If McCarthy allows a clean bill, he instantly gets removed by the Crazy Caucus. If he doesn't, he presides over the greatest self-inflicted economic catastrophe in human history.
The closer we get to default, the more interesting the options become, including declaring the debt limit unconstitutional and putting the pin back in the grenade once and for all. >

Makes you wonder why McCarthy wanted this job so much.  Perhaps he's fond of "never a dull moment" >

Because Speaker is third in line to the presidency and he’s a slimy power hungry lunatic. >

It honestly makes me wonder. Does he just want his name in the history books with the label "speaker" next to it? Is he hoping the crazies kill our prez and VP so he can get the top job? What the fuck could possibly make him want to have his name associated with this shitshow? >

Anyone have a chart of all the times the republicans raised the debt limit without a fuss while a republican was president? >

Mainstream Republicans want a default so they can blame Biden, like they blamed Obama for the Great Recession and trying to help people who struggled post-Great Recession. >

If they hadn't emptied the Treasury for COVID support, they might have a viable argument. 

S&L bailout, republicans
Enron,  republicans
mortgage collapse,  republicans
giveaway tax cuts,  republicans 
COVID industry supports,  republicans

Recognize a pattern? >

So what happened during the 117th congress(2021-2023) when democrats controlled both houses and the presidency? Seems hard to believe the republicans got all the accomplished. They are so sneaky though. >

All of that stuff was pre 117th. 
The 117th largely had the ARP, the BIF, and the IRA22 as the main things that were unusually large ticket items, beyond the standard stuff. 
The BIF was largely bipartisan, written primarily by Manchin, Sinema, and a handful of Republicans. With critical spending on critical infrastructure.
The IRA 22 was largely written by the conservative wing of the Ds aka Manchin and Sinema.... and it was roughly budget neutral or slightly positive. I've seen estimates vary of it being like -50B to possibly +200B in terms of net revenue. 
The ARP which spent money on more covid stimulus, and covid vaccines as a large chunk of its spending helped many Americans during the pandemic. 
So it did quite a bit but... nothing really outlandish or as noteworthy towards the current situation (without justification) as the things the other dude listed. >

Lots of "both sides" points of view being expressed here as wisdom or something. Well the Democrats want to raise the ceiling as is standard practice so the US can pay it's debts, social security, military salaries etc. I'm not sure what the other side is. Can any of you "both siders" enlighten us? >

Sure, but only from my own frustration as a voter and tax payer.  There has been a lot of discretionary spending in this year alone that have real world price tags attached to them that the “just raise the debt ceiling” crowd seems to fail to account for.  Forgive college loans you say then call everyone that asked how it gets paid for assholes for asking how it gets paid for. Blanket donate hundreds of billions of dollars to the military industrial complex so as to equip Ukraine.  Again the mere suggestion that it’s not our war and we’re labeled as Nazi sympathizers.  Then there is the 7000 page omnibus bill to the tune of trillions rammed through congress in 48 hours notably without republican input.  Who here can read 7000 pages of legal documents in less than 48 hours?  By all means don’t acknowledge any of that and just say “just raise the debt ceiling or you’re a piece of shit that wants to burn the whole country down”.  All it’s doing is mortgaging our great great great great grandchildren’s futures.  The money doesn’t just go nowhere.  You don’t want the republicans to cut Medicaid and social security then stop making them have to consider it just so you can get your college paid for when you agreed to the financing.  These are only three examples of course there are more than I can ever point out. >

Good now look up Dems rubber stamps and compare and contrast. >

At least you’re openly admitting you only care about deficits when it’s Dems. >

No I’m not.  You’re inferring that but are wrong.  However in saying so you are openly admitting that you only care about criticizing Republicans.  My strongest political wish is for mutual accountability.  I frankly don’t care if you believe that or not. >

Going back to Reagan, every Republican president has added to the deficit, while every Democratic president has presided over a reduction in the deficit. Asking for mutual accountability when one party is accountable belies your bias. >

Nixon, Vietnam war + devaluation ... It goes back further... I think the last republican who didn't add much to the national deficit was Hoover,  but he distributed it and added to the nation's personal deficits. >

GW Bush had a war that was paid off the books and then given to Obama to balance the budget. Read the history../ >

Off budget spending should be criminal >

Republicans will play political games and screw Americans, same shit, different day! >

We vote in more conservative sleaze bags to drive the debt up further, than point fingers at democrats. Who are actually working to bring our debt down, and stoped by conservatives every step of the way. Just to win political points with people who don’t know any better. >

Can you note an article on the democrats trying lower the debt? I seriously would like to read that. What are the conservative sleaze bags spending money on? Walls, pssff. >

Clinton was actually lowering the debt....  You kissed that goodbye when Bush was elected...  Greenspan saw the govt was actually running at a profit!   How unamerican 
TAX CUT!!   But not so much for the middle class. >

There have been two democratic presidents since Clinton left office in the 90s. >

I have Stockholm syndrome so I am starting to identify with my captors....
Magamagamaga let it all burn.
/s >

House Republicans: "We did not succeed bringing down the US on  Jan 6. But we have another way." >

Republicans shut down the government again. >

This isn't the first time this has happened. It isn't as much of a end of times scenario as they try to make it out to be.
​
Edit: Don't get me wrong. I am NOT saying it's good. It's gonna affect our credit rating. If it doesn't get fixed soon, Gov't employees will have a hard time getting paid (probably except congress and the senate, who should be the first to not get paid.) >

The difference is you now have a sizable portion of Republicans who want us to default and the Speaker of the House is controlled by them. I expect when the US credit rating is downgraded but before we actually default some Wall Street donors will call up enough Republicans to remove McCarthy and put in a speaker that will allow a clean debt ceiling increase, but without a change in speaker we are going to default >

I am certainly the furthest you could be from a republican and I want them to default. To avoid going into to much nuance I would just say I want them to stop pushing it off on the future. Hemorrhaging resources on a fiat currency and economy that ultimately is a cancer on us. We can use debt all we want if the international markets don't trust our money it wont matter if its a thousand or a million dollars, and since we don't actually produce shit we will have to outsource it to another third world that works pennies on the dollar to try to compensate. What about when there is no third world left? What if we just perpetuate the third world to try to keep our cheap labor market providing the gluttonous country to excess? >

In my mind this is point where the nation starts robbing Peter to pay Paul, not a good place to be in. America is financially on fumes right now. Republicans will engineer another shutdown that will get hung around their necks and within a few months they'll ignore like it never happened (because they'll own it). >

Its not on fumes though. Thats also part of the scam. Somehow the country with excess everything is on the verge pf collapse if it doesn’t pay off everyone they owe so that party can payback the US. The world is 500 trillion in debt combined. What planet does earth owe? >

The bond market collapses, grandma loses her pension and shows up with two suitcases and three pregnant cats that are definitely hangry. >

Screw that throw the cats outside and help grandma with her 5th booster, make sure you get the LaSabre in the will though, they are awesome. >

Ohh no, grandma sold her car because her pastor was selling NFT's of the holy land. She has them in her luggage, framed. >

Seems like a reasonable reaction. >

Republicans: We are the party of fiscal responsibility. Also republicans: We keep fucking around with the idea of paying our debts, and it caused our credit to drop.
As much as it sucks, I hope that they downgrade our credit again and everyone can poibt out it has happebed twice, and both times were 100% their fault. >

The president sets the agenda, and he pushed for his policies by compromising with members of Congress on the opposite side. The Democrats often worked with the president of the opposite party for the common good of the country. Unfortunately, we cannot say the same for the Republicans If the Republicans in this forum were honest  to themselves and  true their country they would not be spewing such false narratives. >

Brinksmanship, so nothing is going to take place until they actually run out cap space. >

Brinksmanship is what happens when there are sane people at the helm. We've literally never been here before. We've never had this happen while bone fide lunatics have any power. What happens now is kind anyone's guess. >

Likely options:

The U.S. defaults and the global economy collapses in a way unseen in economic history as everyone's USD holdings lose somewhere between 30 and 80 percent of their value.
The administration mints the coin or 14A's the debt, the U.S.'s credit rating drops to junk or near-junk, everyone's USD holdings lose between 10 and 40 percent of their value, Biden's impeached by the crazies, the crazies sue in federal court that the administration had to default under the law and the Supremes agree 6-3 or 5-4.
The monied classes call into Congress to attempt to get a clean debt limit increase through the House, McCarthy and House GOP leadership cave, the crazies raise repeated motions to vacate the chair—which under the new rules are privileged over every other motion—thus running out the clock, the U.S. defaults, see point 1 above. >

Looks like Option 2 is the least damaging overall. >

There is an option 3A: 
If the monied elite scream loud enough, someone will find a way to shut up the crazies, at least long enough to stop a default. >

Nothing. That is what will happen >

Make the pain stop. >

We all watch our 401ks dump like it’s 2020 again. >

Republicans create a crisis because they (as usual) can't be trusted to do what's needed. >

More posturing BS that results in Americans suffering and no real changes. Ugh. >

ill offer them a refinance deal with less interest and higher credit line. >

I'm sure Sean Hannity has a solution. >

Next Steps are GOP forcing Biden for cuts to raise the Debt Celling dates back to World War I >

if there was an actual “limit” to the national debt, we would’ve crossed it long ago. >

Start planning now to vote out these insurrectionist cult republicans who are hell-bent on destroying not just democracy but the economy and this country altogether. This is a real job requiring intelligent caring thoughtful representation - not a bunch of low-level political fuckups. >

The GQP crashes us and blames it on Biden. >

Congress doesn’t get paid first and foremost!! >

What about the $1T coin? Anybody remember the 1T Coin they were going to mint? >

I think obama minted it >

He did not. >

I thought he did >

The same thing that happens every time, pinky: raise the debt ceiling. Stop with this made-up controversy. Let's get on with it and start printing the next "muh debt ceiling" crisis. >

Nothing happens, this deadline was hyped up for nothing, and the house isn't even in session lol
Now they have a couple of months to do the usual >

Don’t they have until, like, June to hammer this out? >

The credit agencies do not like when their interest payments are threatened. Even the rancid odor of this shit show is enough to drop the US's credit rating, and when the credit rating is dropped, interest rates increase.
An increase of interest rates means more tax dollars need to go into repaying the national debt instead of doing things like paying for interstate roads. >


An increase of interest rates means more tax dollars need to go into repaying the national debt instead of doing things like paying for interstate roads.  

If we're just not paying it anyway then who cares what the interest rate is?  Let them raise it to a thousand percent.  A thousand percent of zero is ... ehhh.. hmm..  carry the one... >

What happens now? The same thing as always, a bunch of pearl clutching, hyperbolic statements about the end of the world economy. The GOP will say the only solution to the problem is for the working class to sacrifice, then the dems will give in and say they had no choice. >

They raise like they always do? >

What exactly would be the point of literally minting a trillion dollar coin?
What explicit purpose would that serve? It's not as though all the Nation's dollarydoos are equated to physical currency? >

Corruption. >

Stop paying taxes. >

Stop allowing corporations to deduct expenses while calculating their quarterly tax payments.
Problem will be fixed by lunchtime tomorrow. >

Dance around the fire. >

Fucking nothing..it’s not real. >

Let's play brinkmanship >

The ball is in Republicans court. They have the House majority which impacts financial services of the government. If something happens with defaults it is on republicans >

Sure would save a lot if we would stop making politicians millionaires ijs >

Stop spending so much, and increase your income via taxes. >

Republicans turn on Boebert, McCarthy when the market tanks and social security deposits vanish. >

What happens now ?  Republicans will fuck things up. >

Political suicide if Republicans force shutdown. >

Time to call James Cameron >

Nothing according to the FOX
but we know >

People thought republicans were “better on the economy”. Let the people learn their lesson. >

What happens is the Democrats and the Republicans figure out which side will get blamed then that side has to budge. >

How are Democrats at fault and why should they budge on not collapsing the global economy? >


2 million illegal's in the country, they use services and don't pay taxes.

Source your assertion. >

I’m picturing the gas station asking if you’re here legally and waiving all the taxes if you say no. Lol. >

My life goes on. >

The hostages are squirming too much. What will happen next?
So bored of these constant contrived crises. >

I know. I can’t even take it seriously anymore. Just more republicans throwing a tantrum. >

it's all they ever do. A classroom of Kindergarteners would make better government. >

They would at least ATTEMPT to do their jobs >

No. Thr government  not doing it'd job is the platform they run on
They say they want to make it run better / more efficient / cut everything but they're the csncer that causes the do nothing >

I call it the “Tory strategy.” Intentionally break everything and then go to their supports and say, “see?!? It doesn’t work! Waste of money, let’s eliminate it!” >

The American right has been doing this all my life. >

And the sad thing is it works on enough folks that, as long as they muck around with the lines redistricting they can still get elected. >

Short answer: not much. We've breached the debt limit before - it's really a question of whether or not we default.
The real issue is whether or not we default.
A default would be catastrophic, the end of the US Dollar as the global reserve currency, and would push the country into a recession the likes of which would make 2008-2009 look like a tiny dip.
The caveat to this is that the folks with real money who have Senators, Congresspeople, and the White House on speed dial would be affected SIGNIFICANTLY more than your average person - their assets would lose 50+% of their value basically overnight.
So, the real question is, is enough of the GOP detached enough from reality to force McCarthy to not allow Congress to raise the debt limit and insulated enough from the need for money to push the US into default? Sadly, I think the answer is yes. If McCarthy allows a clean bill, he instantly gets removed by the Crazy Caucus. If he doesn't, he presides over the greatest self-inflicted economic catastrophe in human history.
The closer we get to default, the more interesting the options become, including declaring the debt limit unconstitutional and putting the pin back in the grenade once and for all. >

Makes you wonder why McCarthy wanted this job so much.  Perhaps he's fond of "never a dull moment" >

Because Speaker is third in line to the presidency and he’s a slimy power hungry lunatic. >

It honestly makes me wonder. Does he just want his name in the history books with the label "speaker" next to it? Is he hoping the crazies kill our prez and VP so he can get the top job? What the fuck could possibly make him want to have his name associated with this shitshow? >

Anyone have a chart of all the times the republicans raised the debt limit without a fuss while a republican was president? >

Mainstream Republicans want a default so they can blame Biden, like they blamed Obama for the Great Recession and trying to help people who struggled post-Great Recession. >

If they hadn't emptied the Treasury for COVID support, they might have a viable argument. 

S&L bailout, republicans
Enron,  republicans
mortgage collapse,  republicans
giveaway tax cuts,  republicans 
COVID industry supports,  republicans

Recognize a pattern? >

So what happened during the 117th congress(2021-2023) when democrats controlled both houses and the presidency? Seems hard to believe the republicans got all the accomplished. They are so sneaky though. >

All of that stuff was pre 117th. 
The 117th largely had the ARP, the BIF, and the IRA22 as the main things that were unusually large ticket items, beyond the standard stuff. 
The BIF was largely bipartisan, written primarily by Manchin, Sinema, and a handful of Republicans. With critical spending on critical infrastructure.
The IRA 22 was largely written by the conservative wing of the Ds aka Manchin and Sinema.... and it was roughly budget neutral or slightly positive. I've seen estimates vary of it being like -50B to possibly +200B in terms of net revenue. 
The ARP which spent money on more covid stimulus, and covid vaccines as a large chunk of its spending helped many Americans during the pandemic. 
So it did quite a bit but... nothing really outlandish or as noteworthy towards the current situation (without justification) as the things the other dude listed. >

Lots of "both sides" points of view being expressed here as wisdom or something. Well the Democrats want to raise the ceiling as is standard practice so the US can pay it's debts, social security, military salaries etc. I'm not sure what the other side is. Can any of you "both siders" enlighten us? >

Sure, but only from my own frustration as a voter and tax payer.  There has been a lot of discretionary spending in this year alone that have real world price tags attached to them that the “just raise the debt ceiling” crowd seems to fail to account for.  Forgive college loans you say then call everyone that asked how it gets paid for assholes for asking how it gets paid for. Blanket donate hundreds of billions of dollars to the military industrial complex so as to equip Ukraine.  Again the mere suggestion that it’s not our war and we’re labeled as Nazi sympathizers.  Then there is the 7000 page omnibus bill to the tune of trillions rammed through congress in 48 hours notably without republican input.  Who here can read 7000 pages of legal documents in less than 48 hours?  By all means don’t acknowledge any of that and just say “just raise the debt ceiling or you’re a piece of shit that wants to burn the whole country down”.  All it’s doing is mortgaging our great great great great grandchildren’s futures.  The money doesn’t just go nowhere.  You don’t want the republicans to cut Medicaid and social security then stop making them have to consider it just so you can get your college paid for when you agreed to the financing.  These are only three examples of course there are more than I can ever point out. >

Good now look up Dems rubber stamps and compare and contrast. >

At least you’re openly admitting you only care about deficits when it’s Dems. >

No I’m not.  You’re inferring that but are wrong.  However in saying so you are openly admitting that you only care about criticizing Republicans.  My strongest political wish is for mutual accountability.  I frankly don’t care if you believe that or not. >

Going back to Reagan, every Republican president has added to the deficit, while every Democratic president has presided over a reduction in the deficit. Asking for mutual accountability when one party is accountable belies your bias. >

Nixon, Vietnam war + devaluation ... It goes back further... I think the last republican who didn't add much to the national deficit was Hoover,  but he distributed it and added to the nation's personal deficits. >

GW Bush had a war that was paid off the books and then given to Obama to balance the budget. Read the history../ >

Off budget spending should be criminal >

Republicans will play political games and screw Americans, same shit, different day! >

We vote in more conservative sleaze bags to drive the debt up further, than point fingers at democrats. Who are actually working to bring our debt down, and stoped by conservatives every step of the way. Just to win political points with people who don’t know any better. >

Can you note an article on the democrats trying lower the debt? I seriously would like to read that. What are the conservative sleaze bags spending money on? Walls, pssff. >

Clinton was actually lowering the debt....  You kissed that goodbye when Bush was elected...  Greenspan saw the govt was actually running at a profit!   How unamerican 
TAX CUT!!   But not so much for the middle class. >

There have been two democratic presidents since Clinton left office in the 90s. >

I have Stockholm syndrome so I am starting to identify with my captors....
Magamagamaga let it all burn.
/s >

House Republicans: "We did not succeed bringing down the US on  Jan 6. But we have another way." >

Republicans shut down the government again. >

This isn't the first time this has happened. It isn't as much of a end of times scenario as they try to make it out to be.
​
Edit: Don't get me wrong. I am NOT saying it's good. It's gonna affect our credit rating. If it doesn't get fixed soon, Gov't employees will have a hard time getting paid (probably except congress and the senate, who should be the first to not get paid.) >

The difference is you now have a sizable portion of Republicans who want us to default and the Speaker of the House is controlled by them. I expect when the US credit rating is downgraded but before we actually default some Wall Street donors will call up enough Republicans to remove McCarthy and put in a speaker that will allow a clean debt ceiling increase, but without a change in speaker we are going to default >

I am certainly the furthest you could be from a republican and I want them to default. To avoid going into to much nuance I would just say I want them to stop pushing it off on the future. Hemorrhaging resources on a fiat currency and economy that ultimately is a cancer on us. We can use debt all we want if the international markets don't trust our money it wont matter if its a thousand or a million dollars, and since we don't actually produce shit we will have to outsource it to another third world that works pennies on the dollar to try to compensate. What about when there is no third world left? What if we just perpetuate the third world to try to keep our cheap labor market providing the gluttonous country to excess? >

In my mind this is point where the nation starts robbing Peter to pay Paul, not a good place to be in. America is financially on fumes right now. Republicans will engineer another shutdown that will get hung around their necks and within a few months they'll ignore like it never happened (because they'll own it). >

Its not on fumes though. Thats also part of the scam. Somehow the country with excess everything is on the verge pf collapse if it doesn’t pay off everyone they owe so that party can payback the US. The world is 500 trillion in debt combined. What planet does earth owe? >

The bond market collapses, grandma loses her pension and shows up with two suitcases and three pregnant cats that are definitely hangry. >

Screw that throw the cats outside and help grandma with her 5th booster, make sure you get the LaSabre in the will though, they are awesome. >

Ohh no, grandma sold her car because her pastor was selling NFT's of the holy land. She has them in her luggage, framed. >

Seems like a reasonable reaction. >

Republicans: We are the party of fiscal responsibility. Also republicans: We keep fucking around with the idea of paying our debts, and it caused our credit to drop.
As much as it sucks, I hope that they downgrade our credit again and everyone can poibt out it has happebed twice, and both times were 100% their fault. >

The president sets the agenda, and he pushed for his policies by compromising with members of Congress on the opposite side. The Democrats often worked with the president of the opposite party for the common good of the country. Unfortunately, we cannot say the same for the Republicans If the Republicans in this forum were honest  to themselves and  true their country they would not be spewing such false narratives. >

Brinksmanship, so nothing is going to take place until they actually run out cap space. >

Brinksmanship is what happens when there are sane people at the helm. We've literally never been here before. We've never had this happen while bone fide lunatics have any power. What happens now is kind anyone's guess. >

Likely options:

The U.S. defaults and the global economy collapses in a way unseen in economic history as everyone's USD holdings lose somewhere between 30 and 80 percent of their value.
The administration mints the coin or 14A's the debt, the U.S.'s credit rating drops to junk or near-junk, everyone's USD holdings lose between 10 and 40 percent of their value, Biden's impeached by the crazies, the crazies sue in federal court that the administration had to default under the law and the Supremes agree 6-3 or 5-4.
The monied classes call into Congress to attempt to get a clean debt limit increase through the House, McCarthy and House GOP leadership cave, the crazies raise repeated motions to vacate the chair—which under the new rules are privileged over every other motion—thus running out the clock, the U.S. defaults, see point 1 above. >

Looks like Option 2 is the least damaging overall. >

There is an option 3A: 
If the monied elite scream loud enough, someone will find a way to shut up the crazies, at least long enough to stop a default. >

Nothing. That is what will happen >

Make the pain stop. >

We all watch our 401ks dump like it’s 2020 again. >

Republicans create a crisis because they (as usual) can't be trusted to do what's needed. >

More posturing BS that results in Americans suffering and no real changes. Ugh. >

ill offer them a refinance deal with less interest and higher credit line. >

I'm sure Sean Hannity has a solution. >

Next Steps are GOP forcing Biden for cuts to raise the Debt Celling dates back to World War I >

if there was an actual “limit” to the national debt, we would’ve crossed it long ago. >

Start planning now to vote out these insurrectionist cult republicans who are hell-bent on destroying not just democracy but the economy and this country altogether. This is a real job requiring intelligent caring thoughtful representation - not a bunch of low-level political fuckups. >

The GQP crashes us and blames it on Biden. >

Congress doesn’t get paid first and foremost!! >

What about the $1T coin? Anybody remember the 1T Coin they were going to mint? >

I think obama minted it >

He did not. >

I thought he did >

The same thing that happens every time, pinky: raise the debt ceiling. Stop with this made-up controversy. Let's get on with it and start printing the next "muh debt ceiling" crisis. >

Nothing happens, this deadline was hyped up for nothing, and the house isn't even in session lol
Now they have a couple of months to do the usual >

Don’t they have until, like, June to hammer this out? >

The credit agencies do not like when their interest payments are threatened. Even the rancid odor of this shit show is enough to drop the US's credit rating, and when the credit rating is dropped, interest rates increase.
An increase of interest rates means more tax dollars need to go into repaying the national debt instead of doing things like paying for interstate roads. >


An increase of interest rates means more tax dollars need to go into repaying the national debt instead of doing things like paying for interstate roads.  

If we're just not paying it anyway then who cares what the interest rate is?  Let them raise it to a thousand percent.  A thousand percent of zero is ... ehhh.. hmm..  carry the one... >

What happens now? The same thing as always, a bunch of pearl clutching, hyperbolic statements about the end of the world economy. The GOP will say the only solution to the problem is for the working class to sacrifice, then the dems will give in and say they had no choice. >

They raise like they always do? >

What exactly would be the point of literally minting a trillion dollar coin?
What explicit purpose would that serve? It's not as though all the Nation's dollarydoos are equated to physical currency? >

Corruption. >

Stop paying taxes. >

Stop allowing corporations to deduct expenses while calculating their quarterly tax payments.
Problem will be fixed by lunchtime tomorrow. >

Dance around the fire. >

Fucking nothing..it’s not real. >

Let's play brinkmanship >

The ball is in Republicans court. They have the House majority which impacts financial services of the government. If something happens with defaults it is on republicans >

Sure would save a lot if we would stop making politicians millionaires ijs >

Stop spending so much, and increase your income via taxes. >

Republicans turn on Boebert, McCarthy when the market tanks and social security deposits vanish. >

What happens now ?  Republicans will fuck things up. >

Political suicide if Republicans force shutdown. >

Time to call James Cameron >

Nothing according to the FOX
but we know >

People thought republicans were “better on the economy”. Let the people learn their lesson. >

What happens is the Democrats and the Republicans figure out which side will get blamed then that side has to budge. >

How are Democrats at fault and why should they budge on not collapsing the global economy? >


2 million illegal's in the country, they use services and don't pay taxes.

Source your assertion. >

I’m picturing the gas station asking if you’re here legally and waiving all the taxes if you say no. Lol.