New debt showdown begins for Trump, Democrats

[nitpicker]

https://thehill.com/policy/finance/432276-new-debt-showdown-begins-for-trump-democrats

New debt showdown begins for Trump, Democrats

By Sylvan Lane - 03/02/19 06:38 AM EST

An extension of the nation’s debt limit ran out on Saturday, starting the clock for a potentially painful negotiation between the Democratic House and President Trump on raising the nation’s borrowing limit. The government has until sometime after mid-summer to raise the legal cap on how much the federal government can owe creditors.

The Treasury Department on Friday suspended the sale of certain bonds and began a series of accounting maneuvers, known as “extraordinary measures” that will keep the U.S. government’s nearly $22-trillion debt beneath the legal limit. Those methods are expected to give lawmakers until August or September to cut a deal before the U.S. misses a debt payment.

The full faith and credit of the U.S. underpins the global economy, and a missed debt payment or default could unleash unprecedented chaos. Battles over the debt limit in 2011 and 2013 led to downgrades of the country’s credit rating and spurred fears of a financial meltdown.
(snip)

The deadline to raise the debt ceiling is also likely to occur close to an October 1 deadline to prevent the imposition of automatic spending caps created by the Budget Control Act. That dynamic has generated some bipartisan interest in reaching a budget and spending deal that would lift the debt ceiling and fund the government beyond the 2020 election.
(snip)

[safeinOhio]

1. Those tax cuts, that were not for the rich,

Are revenue neutral.

[watoos]

4. Yeah right

Where’s your sarcasm thingy?
The tax cuts alone will add 1 trillion to the debt/year. Those tax cuts for the rich were done forever, the middle class cuts expire.

[no_hypocrisy]

2. Will Trump hold up raising the National Debt if more money for his wall isn't included in the deal?

I know, I know: Does the Pope shit at the Vatican?

[rainin]

3. I wonder what Putin wants now. sigh

It all depends if Putin wants the global markets blown up or not. America in chaos is a feature not a bug and we have a Russian asset leading our country.

[watoos]

5. Putin wants oil prices up

And gas in Pa. is already $2.70/gal.