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White House and Republicans reach a tentative deal to avoid U.S. default

Callen said:
I think Biden comes out the winner. No cuts, no default, no cap on the debt ceiling until after the election, no major caves on his legislative accomplishments. Yes, some give but that is what compromise is.
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We will soon see, after the ‘compromise’ bill is (re)written and the congress critters vote on it (without demanding amendments?).
 
Callen said:
The Senate won't stop it? Why would they? There will be some " no's " from the extremes from each side but it will pass handily.
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Senate Republicans have the freedom to posture and all vote against it because it will pass without them. Demovrats will also most likely get 3 yes votes from the same 3 reliable defectors in the Senate, Murkowski, Collins, and Romney. All 3 of them should caucus with the Democrats.
 
Gateman_Wen said:
Doesn't matter. Giving an inch is still capitulation to terrorists.
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I get it. OTH, these guys would have driven off the cliff. They still might.

Its very important to be principled, but you do need sufficient discernment to pick your battles and die on the right hill. Politics is the art of the possible. It is not always doing the right thing.
 
gbg3 said:
Well, I noticed this thread was getting further and further away from actually looking at and analyzing the deal so I started a thread for those, like me, who actually like the details more than the narratives. So far, the details are still lacking but I'll be doing the best I can, as more details are released, to obtain and post actual details rather than meaningless and tossed out partisan spin.
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You should have included a link to your thread to make it easy to find.
 
ttwtt78640 said:
It’s not absurd to assert that law enforcement is an executive branch function.
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All of those departments I mentioned enforce the law. That doesn't mean they are "police".
 
Patriotic Voter said:
There is no reason to use the word terrorist the wrong way. You know the debt ceiling has absolutely nothing to do with terrorism.
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Republicans used raising the debt ceiling, which has to be approved, as a hostage to get concessions from Democrats that they could not get normally. That’s terrorism/hostage taking.
 
Gateman_Wen said:
Unless the deal is "sit down and shut up republicans, we're doing this with or without you" then Joe has just lost my respect.
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Sure. That attitude will accomplish much. :rolleyes:

That's the kind of attitude that causes the "payback" mentality when a party retakes one or both Houses of Congress.
 
upsideguy said:
I get it. OTH, these guys would have driven off the cliff. They still might.

Its very important to be principled, but you do need sufficient discernment to pick your battles and die on the right hill. Politics is the art of the possible. It is not always doing the right thing.
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The cliff would have been preferable.
 
Roadvirus said:
Sure. That attitude will accomplish much. :rolleyes:

That's the kind of attitude that causes the "payback" mentality when a party retakes one or both Houses of Congress.
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I'm not talking about retaliation, I'm talking about never giving in to terroristic demands.
 
MTAtech said:
Republicans used raising the debt ceiling, which has to be approved, as a hostage to get concessions from Democrats that they could not get normally. That’s terrorism/hostage taking.
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Everyone knows the only definition of terrorism has absolutely nothing to do with the legislature's two parties being unwilling to make compromises.
 
Gateman_Wen said:
I'm not talking about retaliation, I'm talking about never giving in to terroristic demands.
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There is no reason to use the word terrorism here. You know it has nothing to do with that.
 
Gatsby said:
That isn't brinkmanship because nothing terrible happens if he mints the coin. That outcome would be...totally fine?
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I think the financial markets could lose faith in the integrity of our system if such a flimsy idea could be implemeted at the whim of politicians.
 
Patriotic Voter said:
Everyone knows the only definition of terrorism has absolutely nothing to do with the legislature's two parties being unwilling to make compromises.
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Terrorism takes many forms. What the MAGATS were trying to do was FISCAL terrorism. Holding the economy of the country hostage so they could extract political gains even though a valid budget already existed is a form of terrorism imo.
 
dobieg said:
You're one of the smarter and more well reasoned people on here. Think thru the ramifications.
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I am. The Treasury mints a coin that they say is worth a trillion dollars; the Fed tells the Treasury they now have a trillion dollars in their account; the Fed then removes a trillion dollars from circulation by locking the coin in a vault.

There is no more money in circulation than there was before. The only thing that has changed is that the Treasury's bank account balance says they have a trillion dollars that they didn't have before. The Treasury would still tax and spend however much they are authorized to tax and spend. The practical implications are no different than raising the debt ceiling a trillion dollars.

"But won't that cause inflation?" No. It's the deficit spending that necessitated the coin (or necessitated the debt ceiling increase) that is inflationary, not the coin itself. If Congress wants to fix that, they can spend less or tax more in the next appropriations bill.

"But won't the Treasury introduce a trillion dollars into circulation when they spend that new trillion dollars in their account?" No. They are still only allowed to spend money that Congress has appropriated.
 
Patriotic Voter said:
Everyone knows the only definition of terrorism has absolutely nothing to do with the legislature's two parties being unwilling to make compromises.
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There is no difference between this and Republicans threatening to blow up Mt Rushmore unless Democrats negotiate with their demands.
 
MTAtech said:
Republicans used raising the debt ceiling, which has to be approved, as a hostage to get concessions from Democrats that they could not get normally. That’s terrorism/hostage taking.
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You and every other liberal keeps making this claim while ignoring the fact Pelosi and Democrats did the same thing when Trump was in power and infact this has been going on with both sides for the past few decades when there has been an opposition party holding the House.
 
ttwtt78640 said:
Hmm… why not mint 100 such coins and worry about inflation later. ;)
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Why not print millions of them. It just numbers. None of it matters and Congress can keep spending, which is all that matters.
 
Gateman_Wen said:
Your side claimed it was taking hostages. That's a terrorist tactic.
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Merrick Garland defined terrorism as an attack on democracy during his confirmation hearing to answer a Republican's question about why Black Lives Matter setting Oregon's Capitol building on fire was not a terrorist attack, but the January 6 U.S. Capitol invasion was one. (Oregon's Capitol building was empty at the time.) Everyone knew long before the hearing terrorism is an attack, such as bombing a building, not someone or a group of people being unwilling to make compromises in legislation negotiations.

I will continue correcting you until you stop using the word terrorist the wrong way.
 
Gateman_Wen said:
Unless the deal is "sit down and shut up republicans, we're doing this with or without you" then Joe has just lost my respect.

www.cnbc.com

White House and Republicans reach a tentative deal to avoid U.S. default

House Republicans have reached a tentative deal with the White House to address the nation's debt ceiling and avoid a default.
www.cnbc.com www.cnbc.com
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Staving off extortion threat for two years, vs facing it again on March 30, 2024 is the apparent justification.

These seems like gloating terms by Rep. Johnson but the freedom caucus will not vote for it. Comical that this person is described as "middle of the road". There are no MotR G.O.P.

 
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