The Republicans in the House, without negotiating with the Democrats, passed a bill to cut spending and to increase the national debt by $1.5 trillion. Speaker McCarthy, with a lot of hard negotiating with Biden got a real deal.
He got less spending cuts—and an increase in the national debt up to $4.0 trillion dollars. In others words Biden and the Democrats now have a Platinum American Express card and can spend as much as they like—McCarthy ADDED $2.5 trillion to the national debt above the so called needed $1.5 trillion.
As for me, when you go so far into debt, you take away the credit card, you do not add any debt. Instead the GOP just gave a spending addict $4 trillion—of our money. The good news is that no taxes was raised—but this just fueled inflation, another form of taxation.
With Last-Minute Debt Ceiling Bill, Government Narrowly Avoids Fiscal Responsibility
BabylonBee.com, 6/1/23 https://babylonbee.com/news/with-last-minute-debt-ceiling-bill-government-narrowly-avoids-fiscal-responsibility?utm_source=The%20Babylon%20Bee%20Newsletter&utm_medium=email
WASHINGTON, D.C. — The House voted 314-117 Wednesday to approve a bill raising the US debt ceiling. The bipartisan compromise allows the country to avoid the devastating impact of fiscal responsibility for another two years.
Sources say the negotiations were touch and go for several weeks, but in the end, Republicans and Democrats were able to come together on the one issue that unites them: recklessly spending other people’s money while avoiding any and all accountability for it.
“Phew, that was a close one,” said House Speaker Kevin McCarthy after the vote. “If we hadn’t passed this bill, the government would have been forced to stop borrowing money and balance the budget. Crisis averted!”
President Biden praised members of Congress for passing the bill. “In this era of partisan politics, it’s good to see Republicans and Democrats agreeing to completely destroy America’s fiscal stability,” he noted in a statement given to a turnip in his root cellar. “Garbflibblemurflin!”
Economists noted that the bill would slightly reduce government spending in future years, but McCarthy urged Americans not to get too hung up on the details. “This is just phase one of our spending plan,” he said. “We’re confident we have the votes to drastically increase deficit spending through the passage of new legislation over the next several years.”
At publishing time, representative Alexandria Ocasio-Cortez had issued a statement asking when the maintenance crews would be arriving to paint the new debt ceiling.
