What happens now the US has hit the debt ceiling again?

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  • jwamplerusa

    High drag, low speed...
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    Feb 21, 2018
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    I will probably cross post, this also deserves a spot here. For what it is worth I received this within 16 hours of writing congressman Baird's office, and asking why I should ever vote for him again. I can believe he received a bunch of input wanting "the deal" passed. Sad.

    "Dear Mr. JWamplerUSA,


    I take my responsibility to represent your voice very seriously; this is especially true on votes where the stakes are so high. On Saturday, when Speaker McCarthy and President Biden announced they had reached a deal, I began painstakingly combing through all 99 pages of the bill text, running the numbers, and reading every reputable analysis or bill summary I could access. On Tuesday, I solicited the counsel of my constituents— whom I have the privilege to speak for in the House of Representatives— and the majority of you agreed: though it’s not the a perfect piece of legislation, the consequences of defaulting on the national debt were far too severe. Without the economic certainty this legislation provides, the shockwaves radiating from our nation’s capital would be devastating for millions of seniors, veterans, and hardworking American families. The repercussions would spread from Wall Street to your wallets, and I simply could not and would not gamble with your household’s financial well-being. The Fiscal Responsibility Act is a sure first step towards reining in Congressional Democrats’ bad spending habits, and the estimated $2.1 trillion in savings the CBO projects this legislation will generate is a strong down payment. This will not only spare us from paying $188 billion in additional interest fees but stands to save $6,223 per person— or $15,854 per household— over the next decade.

    It’s widely contended that a deal where everyone walks away a little disappointed is the sign of a successful compromise, and this bill achieves those standards. Each party made concessions, and we walked away sparing the nation from significant and wide-reaching economic turmoil with the opportunity to learn from a narrowly-skirted disaster and room to continue making progress. We did not sacrifice the “good” for an unobtainable “perfect”, and together, just as we promised, House Republicans have taken a substantive step forward in reining in Democrats’ unchecked spending.

    Congress has developed a bad habit of spending without abandon— a practice that would not be acceptable for your own household budgets— and that must stop. For every $100 accrued in debt, Congress spends $129. This unsustainable spending must stop, but before we can fix the problem, we’ve got to stop the figurative bleeding.

    I appreciate your willingness to share your thoughts with me as I deliberated over how to vote on this critical legislation. The majority of you made it clear to me where you stood on this bill, and I was grateful not only to hear your advice but to honor it.

    I remain humbled by the opportunity to represent you in Congress and will continue voting on legislation that promotes our shared values and puts Hoosiers and hardworking Americans first.

    Sincerely,
    Image
    Jim Baird
    Member of Congress"
     

    DoggyDaddy

    Grandmaster
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    73   0   1
    Aug 18, 2011
    102,046
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    Southside Indy
    I will probably cross post, this also deserves a spot here. For what it is worth I received this within 16 hours of writing congressman Baird's office, and asking why I should ever vote for him again. I can believe he received a bunch of input wanting "the deal" passed. Sad.

    "Dear Mr. JWamplerUSA,


    I take my responsibility to represent your voice very seriously; this is especially true on votes where the stakes are so high. On Saturday, when Speaker McCarthy and President Biden announced they had reached a deal, I began painstakingly combing through all 99 pages of the bill text, running the numbers, and reading every reputable analysis or bill summary I could access. On Tuesday, I solicited the counsel of my constituents— whom I have the privilege to speak for in the House of Representatives— and the majority of you agreed: though it’s not the a perfect piece of legislation, the consequences of defaulting on the national debt were far too severe. Without the economic certainty this legislation provides, the shockwaves radiating from our nation’s capital would be devastating for millions of seniors, veterans, and hardworking American families. The repercussions would spread from Wall Street to your wallets, and I simply could not and would not gamble with your household’s financial well-being. The Fiscal Responsibility Act is a sure first step towards reining in Congressional Democrats’ bad spending habits, and the estimated $2.1 trillion in savings the CBO projects this legislation will generate is a strong down payment. This will not only spare us from paying $188 billion in additional interest fees but stands to save $6,223 per person— or $15,854 per household— over the next decade.

    It’s widely contended that a deal where everyone walks away a little disappointed is the sign of a successful compromise, and this bill achieves those standards. Each party made concessions, and we walked away sparing the nation from significant and wide-reaching economic turmoil with the opportunity to learn from a narrowly-skirted disaster and room to continue making progress. We did not sacrifice the “good” for an unobtainable “perfect”, and together, just as we promised, House Republicans have taken a substantive step forward in reining in Democrats’ unchecked spending.

    Congress has developed a bad habit of spending without abandon— a practice that would not be acceptable for your own household budgets— and that must stop. For every $100 accrued in debt, Congress spends $129. This unsustainable spending must stop, but before we can fix the problem, we’ve got to stop the figurative bleeding.

    I appreciate your willingness to share your thoughts with me as I deliberated over how to vote on this critical legislation. The majority of you made it clear to me where you stood on this bill, and I was grateful not only to hear your advice but to honor it.

    I remain humbled by the opportunity to represent you in Congress and will continue voting on legislation that promotes our shared values and puts Hoosiers and hardworking Americans first.

    Sincerely,
    Image
    Jim Baird
    Member of Congress"
    BS
     

    Shadow01

    Master
    Rating - 0%
    0   0   0
    Mar 8, 2011
    3,242
    119
    WCIn
    Hopefully soon we will have a President that literally sees no reason to govern within an assumed debt limit and spends 10 fold over the approved budget. Not enough personal pain to cause action by the citezenry
     

    Tombs

    Grandmaster
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    0   0   0
    Jan 13, 2011
    12,021
    113
    Martinsville
    Meh, the end of time? I dunno, I've got faith that something will happen before the end of time that will change things.
    Don't know what, but something.

    Also, sorry for the necro-reply, but it really is the same old song and dance no matter the date.

    I say that because the government can't fix the government.
     

    ditcherman

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    22   0   0
    Dec 18, 2018
    7,607
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    In the country, hopefully.
    I say that because the government can't fix the government.
    Totally agree.

    “To those who can hear me, I say - do not despair. The misery that is now upon us is but the passing of greed - the bitterness of men who fear the way of human progress. The hate of men will pass, and dictators die, and the power they took from the people will return to the people. And so long as men die, liberty will never perish…”

    Have never figured out if this great dictator is one of the good guys or the bad guys, but I love that line “as long as men die liberty will never perish”.

    All I was saying relative to your previous post was that the end of time is hopefully a ways away. Men will die between then and now.
     

    KLB

    Grandmaster
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    5   0   0
    Sep 12, 2011
    23,007
    77
    Porter County
    But why? Graham voted no also because he said it didn’t spend enough money for the military, not that it didn’t stop spending, he wanted more $$$ !!! What boat was Braun in? Haven’t heard him say yet.
    He has a statement about it on his website

    “This deal makes our current bloated spending levels the new baseline going forward, setting us further down the path to financial ruin. We need deep spending cuts, and Congress shouldn’t get paid until we deliver a real budget that seriously addresses our massive debt. There’s more drama here than usual but sadly the play is going to end the same way: the big spenders in both parties getting together to increase the size of the federal government." - Senator Mike Braun
     

    BigRed

    Banned More Than You
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    7   0   0
    Dec 29, 2017
    18,921
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    1,000 yards out
    This bull**** removes all limits to spending over the next two years.

    In an earlier time, we would hang thieves and robbers with a rope strung up to a tree.

    Now we vote for them to rob from our children and grandchidren.

    These mother ******* can go straight to Hell.


    1685796473025.png
     

    BigRed

    Banned More Than You
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    7   0   0
    Dec 29, 2017
    18,921
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    1,000 yards out
    Debt "ceiling" :rolleyes:
    Even the sky is no longer the limit for .gov. Bunch of irresponsible children wasting other people's money. $40T before 2025, any bets?
    It will be well beyond that.

    Our children, grandchildren, and great grandchildren are being sold into economic slavery.

    I utterly detest these mother *******.
     
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