Debt ceiling and government shutdown threat

[kallend 2,026]

Can someone explain what exactly the GOP hopes to achieve by forcing an economic crisis and possible default?

[airdvr 210]

Potomac two step.  Can't let a good crisis go to waste.

It's simply a matter of leverage.  But you already know that.

[wolfriverjoe 1,523]

8 minutes ago, kallend said:

Can someone explain what exactly the GOP hopes to achieve by forcing an economic crisis and possible default?

They're going to 'own the libs'.

You know, just like all the dead people who refused the vaccine.

 

Seriously, their leader is a petulant 3 year old.
So are many (if not most) of their base.

So they're throwing a tantrum.

[gowlerk 2,190]

6 minutes ago, airdvr said:

Potomac two step.  Can't let a good crisis go to waste.

It's simply a matter of leverage.  But you already know that.

Yup, it takes the focus away from the Dotard for a while and makes the senior senator from KY feel a sense of control again.

Edited September 28, 2021 by gowlerk

[ryoder 1,590]

Heather Cox Richardson devoted last night's letter to it:

Letters from an American: September 27, 2021

Edited September 28, 2021 by ryoder

[yoink 321]

59 minutes ago, kallend said:

Can someone explain what exactly the GOP hopes to achieve by forcing an economic crisis and possible default?

Crash all the federally funded recovery programs and then point to the democrats saying 'look what they've done' when the economy tanks.

Shitty politics 101.

[GeorgiaDon 362]

The debt ceiling addresses the debt that has already been accrued since the last increase, the great majority (I've read ~97%) of it under Trump.  What the Republicans are doing is much like someone who runs up a huge tab, then bails and sticks their companions with the bill.  All in all a dick move, but unfortunately a large segment of the US population are so clueless that they have no idea about what is really happening. 

[wolfriverjoe 1,523]

37 minutes ago, GeorgiaDon said:

The debt ceiling addresses the debt that has already been accrued since the last increase, the great majority (I've read ~97%) of it under Trump.  What the Republicans are doing is much like someone who runs up a huge tab, then bails and sticks their companions with the bill.  All in all a dick move, but unfortunately a large segment of the US population are so clueless that they have no idea about what is really happening. 

A large segment of the R base supports this type of "dick move".

It's exactly what they would do. And probably have done (your bar tab metaphor, not the national budget part).

[billvon 2,989]

3 hours ago, kallend said:

Can someone explain what exactly the GOP hopes to achieve by forcing an economic crisis and possible default?

"It's Biden's fault!"

[JerryBaumchen 1,354]

1 hour ago, GeorgiaDon said:

The debt ceiling addresses the debt that has already been accrued since the last increase, the great majority (I've read ~97%) of it under Trump.  What the Republicans are doing is much like someone who runs up a huge tab, then bails and sticks their companions with the bill.  All in all a dick move, but unfortunately a large segment of the US population are so clueless that they have no idea about what is really happening. 

Hi Don,

Re:  unfortunately a large segment of the US population are so clueless that they have no idea about what is really happening. 

One of the truest statements ever posted. 

And, the sad part is that some of them prefer to remain clueless.

Jerry Baumchen

[JoeWeber 2,720]

2 hours ago, GeorgiaDon said:

The debt ceiling addresses the debt that has already been accrued since the last increase, the great majority (I've read ~97%) of it under Trump.  What the Republicans are doing is much like someone who runs up a huge tab, then bails and sticks their companions with the bill.  All in all a dick move, but unfortunately a large segment of the US population are so clueless that they have no idea about what is really happening. 

Fuck! I'm a Republican.

Seriously, they hope to prove nothing. They know with precision how venal and ignorant are their base so they play to it for no other reason than to maintain power. Could be that SHTF is more of a slow roll out from the top than a massive uprising from below.

Edited September 28, 2021 by JoeWeber

[ryoder 1,590]

Congress averts shutdown, sends 9-week funding patch to Biden’s desk

[winsor 236]

It turns out that the debt ceiling is not a problem:

https://www.axios.com/trillion-dollar-platinum-coin-mint-janet-yellen-223e7722-d7ba-47c9-b5f6-49a841d181de.html

[GeorgiaDon 362]

McConnell is an evil turd, but he is not stupid.  He is trying to force the Democrats to use the reconciliation process to pass the debt limit bill, which will burn a lot of clock and prevent the Democrats from passing their human infrastructure bill and also any voting protection legislation.  Just as he did with Obama he doesn't want Biden to have any "wins", so Republicans will be able to portray Democrats as incompetent losers in the next election.  Also Republicans are desperate to stymie any voting protection as they are very aware that voting suppression is their only path to power.  It's just gravy that he can stick the Democrats with the bill for four years of fiscal irresponsibility under Trump.

In the end McConnell and the Republican party only care about winning and power.  They do not care at all about the damage they would do to the country, people, and the world.  For them the end always justifies the means if the end is they win.

Don

[JoeWeber 2,720]

On 10/5/2021 at 5:29 PM, GeorgiaDon said:

McConnell is an evil turd, but he is not stupid.  He is trying to force the Democrats to use the reconciliation process to pass the debt limit bill, which will burn a lot of clock and prevent the Democrats from passing their human infrastructure bill and also any voting protection legislation.  Just as he did with Obama he doesn't want Biden to have any "wins", so Republicans will be able to portray Democrats as incompetent losers in the next election.  Also Republicans are desperate to stymie any voting protection as they are very aware that voting suppression is their only path to power.  It's just gravy that he can stick the Democrats with the bill for four years of fiscal irresponsibility under Trump.

In the end McConnell and the Republican party only care about winning and power.  They do not care at all about the damage they would do to the country, people, and the world.  For them the end always justifies the means if the end is they win.

Don

Maybe McConnell isn't stupid but Sen. John Cornyn certainly is. He actually doesn't understand that raising the debt limit is for previous spending, not future spending. No matter, let's all keep up with our positive attitudes that America is on the mend, the future is bright, and don't forget to take your recycling to the curb.

[kallend 2,026]

On 10/5/2021 at 12:32 PM, winsor said:

It turns out that the debt ceiling is not a problem:

https://www.axios.com/trillion-dollar-platinum-coin-mint-janet-yellen-223e7722-d7ba-47c9-b5f6-49a841d181de.html

per Paul Krugman:

Let me say right away that there are some good reasons to be uneasy about minting the coin. The Fed, which is semiautonomous, might not agree to play along. The strategy might face legal challenges. And by resorting to this gimmick we would be sending the world a signal that we’re a messed-up nation having big problems governing itself — although the truth is that we are a messed-up nation thanks to the nihilism of one of our two major parties, so minting the coin would arguably just be acknowledging the obvious.