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2023-05-10 Home Front: Politix

Biden, McCarthy start urgent debt talks as default deadline nears

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Posted by Fred 2023-05-10 00:00|| || Front Page|| [8 views ] Top

Remember the "Fiscal Cliff"? LOL

Posted by DooDahMan 2023-05-10 08:21|| 2023-05-10 08:21|| Front Page Top

#2 It's not urgent.
1 - the government is still receiving income
2 - you pay your debts first
3 - you pay what has already been mandated by law
4 - you divide up the remainder among the departments as available

Posted by Procopius2k 2023-05-10 08:52|| 2023-05-10 08:52|| Front Page Top

#3 Some clown on Fox News yesterday afternoon (my roomate was watching it, so bugger off blaming me) and some wanker was saying to Neil Cavuto 'Boehner and Obama fought over the budget in 2011-2012'. What I remember was Boehner completely rolling over for Obama on that budget, who got just about everything he wanted.

If Speaker McCarthy's not a putz, he needs to prove it with this one. Not that I'm holding my breath.

Posted by Raj 2023-05-10 10:43|| 2023-05-10 10:43|| Front Page Top

#4 The $600 billion/year interest (2%) on the federal debt won't last long. Soon it will go to $1200 billion/year as older debt matures. May go to $1500-2000 billion/year. That leaves nothing for discretionary spending (military, law/regulatory enforcement, research etc). Leaves no option but to accelerate borrowing from the national credit card until the whole rotten system crashes.

Posted by Enver Slager8035 2023-05-10 11:53|| 2023-05-10 11:53|| Front Page Top

#5 This will be a crazy summer.

Posted by Super Hose 2023-05-10 11:54|| 2023-05-10 11:54|| Front Page Top

#6 a crazy summer

More so with the power grid failures and no AC heat outrage.

Posted by Skidmark 2023-05-10 12:46|| 2023-05-10 12:46|| Front Page Top

#7 Kabuki, perhaps. But either way it will be a defining moment for McCarthy. He will show himself to be either a chump or a champ.

I know one thing for certain. His constituents elected him in the hope that he would be a fiscal conservative. Now is the time for him to justify that hope.

Posted by Abu Uluque 2023-05-10 14:23|| 2023-05-10 14:23|| Front Page Top

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