House Speaker Kevin McCarthy pledges to cut government spending, while raising the debt ceiling at the same time.
The US is expected to reach its fiscal cliff this month, where they’d have to get more debt approval. This song and dance pretty much occurs every single year. Every single year, politicians say, the US is on the brink economically, and that they need to get into more debt to stay ahead. And every year, the debt ceiling gets raised, despite conservatives crowing about how economically prudent they are.
There hasn’t been a balanced budget since Bill Clinton. Every president following him has been drunk on spending, not really caring about the long term effects of trillions of dollars of debt and a massive “IOU to China”. Sometimes there’s some silly back and fourth theater. How many times have you read that the government almost gets shutdown? And it’s actually been shut down a number of times over budget negotiants, but Americans forget it and the debt ceiling gets raised anyway. The conservatives primarily seem to be taunting shutdowns for show. The end result will be the same. More debt, and more big government.
McCarthy claims that this digger deep into debt will somehow “save taxpayers trillions of dollars, make us less dependent on China, and curb high inflation, all without touching Social Security or Medicare.”
To be fair, McCarty’s budget is more prudent than the Democrats would like. He actually doesn’t expect to get his initial budget signed by the president. But again, in political theater, McCarthy could say he tried while placating Biden by being open to have the debt ceiling risen. McCarthy has pledged not to raise any taxes, in opposition to Biden’s “clean debt ceiling” desire, which would include even more spending.
But ultimately, McCarthy wants to project he dug in his heels, and hopes that Americans aren’t watching once actual negotiations begin. Just another day of honest takes from both major parties in power.
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