I mean we should, objectively, dispense with (or at least greatly reform) the function of the debt ceiling. Just not for the reasons that Trump probably wants to
I mean we should, objectively, dispense with (or at least greatly reform) the function of the debt ceiling. Just not for the reasons that Trump probably wants to
Agreed! Context matters. During his single term, Trump accrued 25% of the nation’s debt, much of it due to tax cuts for corporations and the very wealthy – unsupported tax cuts that had to be financed by loans!
Democrats now have an opportunity to use the debt ceiling against Trump and Republican legislators. This is definitely NOT the time to eliminate it.
Dems aren't going to hold the debt ceiling hostage over tax cuts because a) The politics are awful and b) They aren't saboteurs willing to hurt the most vulnerable over politics like the GOP is.
The debt ceiling is a weapon only valuable to one side. If they're willing to toss it overboard, help them do it.
Dems should sign on to a permanent repeal of the debt ceiling, which serves no useful purpose and only allows bad actors to make mischief. That said, if Trump proposes 'repealing' it only through 2028, Dems should not play ball. Let the Rs beat each other up.
As expected, he could give a shit about spending (I think the bromance between Musk, who wants a Milei-style destructor, and Trump will end sooner than later) but it has the 2 year debt ceiling extender. Freedom Caucus-types are already balking (with Trump calling on a primary of Chip Roy lol)
Jefferies is saying no, but if I were him I'd say kill it permanently and enough of the caucus will push it through.
"Milei’s severe spending cuts have hit the poor hard. Statistics show that for the first half of this year, almost 53% of Argentina’s 45 million people were living in poverty – a two-decade high – up from 41.7% in the second half of 2023. Some 18% of people were living in extreme poverty, while more than six out of 10 of under-14s lived below the poverty line."
A year into Javier Milei's presidency, Argentina's poverty hits a new high
"For nearly 40 years, Argentina’s poverty level had consistently hovered above 25 percent. But since the far-right Milei took office on December 10, 2023, that figure has skyrocketed.
"Over the last year, the poverty rate reached nearly 53 percent. That is the highest level in 20 years, according to a research team at the Argentine Catholic University (UCA) that has kept track of key economic indicators."
I assume Dems will send back a counteroffer to see how much the GOP is willing to give up. Permanent repeal could be one proposal which IMO should be enough to get most Dems to support it. If the GOP won't take that, there could be other conditions.
I mean we should, objectively, dispense with (or at least greatly reform) the function of the debt ceiling. Just not for the reasons that Trump probably wants to
Agreed! Context matters. During his single term, Trump accrued 25% of the nation’s debt, much of it due to tax cuts for corporations and the very wealthy – unsupported tax cuts that had to be financed by loans!
Democrats now have an opportunity to use the debt ceiling against Trump and Republican legislators. This is definitely NOT the time to eliminate it.
Dems aren't going to hold the debt ceiling hostage over tax cuts because a) The politics are awful and b) They aren't saboteurs willing to hurt the most vulnerable over politics like the GOP is.
The debt ceiling is a weapon only valuable to one side. If they're willing to toss it overboard, help them do it.
Dems should sign on to a permanent repeal of the debt ceiling, which serves no useful purpose and only allows bad actors to make mischief. That said, if Trump proposes 'repealing' it only through 2028, Dems should not play ball. Let the Rs beat each other up.
I have to admit this is an interesting gauntlet throw by Trump: https://www.politico.com/live-updates/2024/12/19/congress/gop-strikes-a-new-spending-deal-00195410
As expected, he could give a shit about spending (I think the bromance between Musk, who wants a Milei-style destructor, and Trump will end sooner than later) but it has the 2 year debt ceiling extender. Freedom Caucus-types are already balking (with Trump calling on a primary of Chip Roy lol)
Jefferies is saying no, but if I were him I'd say kill it permanently and enough of the caucus will push it through.
MILEI A CATASTROPHE for Argentina
"Milei’s severe spending cuts have hit the poor hard. Statistics show that for the first half of this year, almost 53% of Argentina’s 45 million people were living in poverty – a two-decade high – up from 41.7% in the second half of 2023. Some 18% of people were living in extreme poverty, while more than six out of 10 of under-14s lived below the poverty line."
https://www.theguardian.com/world/2024/dec/18/argentina-javier-milei-chainsaw-measures
A DISASTER…
A year into Javier Milei's presidency, Argentina's poverty hits a new high
"For nearly 40 years, Argentina’s poverty level had consistently hovered above 25 percent. But since the far-right Milei took office on December 10, 2023, that figure has skyrocketed.
"Over the last year, the poverty rate reached nearly 53 percent. That is the highest level in 20 years, according to a research team at the Argentine Catholic University (UCA) that has kept track of key economic indicators."
https://www.aljazeera.com/news/longform/2024/12/7/a-year-into-javier-mileis-presidency-argentinas-poverty-hits-a-new-high
I assume Dems will send back a counteroffer to see how much the GOP is willing to give up. Permanent repeal could be one proposal which IMO should be enough to get most Dems to support it. If the GOP won't take that, there could be other conditions.
100%. What was the point of the debt ceiling in the first place?