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"Still, in doing so, Treasury would need to balance the federal budget by ensuring that government outlays are equal to government revenues. This would mean an instantaneous cut to GDP worth around 4.5-5.0%, leading to a self-inflicted recession and risking severe financial market dislocations." "Why a potential debt ceiling crisis? In trying to garner support for his election, House Speaker McCarthy provided conservative Republicans with a commitment to attach significant spending cuts to any increase or suspension in the debt limit," Daco said. "As such, while most policymakers would favor a clean raise in the debt ceiling, there is likely to be significant opposition to spending cuts by Democrats in the Senate.
You might ask why they have to borrow money to pay Social Security and Medicare benefits, military salaries and tax refunds.
Stop sending Billions to Ukraine would be a start I don’t think they really care anymore. They get their money washed and dried.
It's good news for me, there is a debt ceiling and GOP is in charge of the House now...There is a chance for Congress to audit the unnecessary spending and Wars finally.
Yellen and politicians knew this 3 weeks ago when they passed the $1.7 Trillion spending bill incl $1.4 Billion for memberships in global multinational organizations You can't borrow your way out of debt. Enough with the scare tactics. Stop spending money we don't have
Same shit, different day! Why are they playing this game? The best way is to not borrow more but they always do and always play the game of whether they should or not!
Why can’t they just spend less money?
Don’t raise it!
Noticed politicians trying to find new ways to spend taxpayers money. Notice each bill they pass is about spending your money faster and faster
Alright everybody we are f***ed, best advice in a situation like this is seize what you can and run.
False! Treasury has enough monthly taxes coming in to pay off our debt payment... we can wait to audit the budget and pull out waste and spending, WH/Dem/Wall St. panicking b/c the Christmas tree is coming down this term.