Debt deal reached

[TBLee]

I am glad to see at least some spending cuts.

Biden, McCarthy reach tentative US debt ceiling deal

The deal would avert a default, so long as they succeed in passing it through Congress before the Treasury Department runs short of money to cover its obligations, which it warned will occur if the debt ceiling is not raised by June 5.

www.reuters.com

 

[EatTheRich]

Not much way to get a deal more favorable to working people without mobilizing union power independent from the Democratic and Republican Parties.

 

[bdtex]

From your source:

"The deal would suspend the debt limit through January of 2025, while capping spending in the 2024 and 2025 budgets, claw back unused COVID funds, speed up the permitting process for some energy projects and includes some extra work requirements for food aid programs for poor Americans."

"Negotiators have agreed to cap non-defense discretionary spending at 2023 levels for one year and increase it by 1% in 2025, a source familiar with the deal said."

Where are the "cuts"?

 

[TBLee]

From your source:

"The deal would suspend the debt limit through January of 2025, while capping spending in the 2024 and 2025 budgets, claw back unused COVID funds, speed up the permitting process for some energy projects and includes some extra work requirements for food aid programs for poor Americans."

"Negotiators have agreed to cap non-defense discretionary spending at 2023 levels for one year and increase it by 1% in 2025, a source familiar with the deal said."

Where are the "cuts"?

I believe work requirements are a plus. Time will tell if this even passes.

Debt Deal Cuts $21 Billion Of IRS $80 Billion, 87,000 New IRS Agents Stay

The bill will rescind $21 billion in IRS funding. Some Republicans want deeper cuts, especially to funding those 87,000 new IRS agents.

www.forbes.com

https://www.cnn.com/2023/05/27/politics/whats-in-the-debt-ceiling-deal/index.html

 

[Zam-Zam]

From your source:

"The deal would suspend the debt limit through January of 2025, while capping spending in the 2024 and 2025 budgets, claw back unused COVID funds, speed up the permitting process for some energy projects and includes some extra work requirements for food aid programs for poor Americans."

"Negotiators have agreed to cap non-defense discretionary spending at 2023 levels for one year and increase it by 1% in 2025, a source familiar with the deal said."

Where are the "cuts"?

Fair question.

In the parlance of Washington, denying an increase to spending is often represented as a "cut"...Which is not the way the average, rational American would see it.

Our 'leaders' in action...

 

[Addy]

Where are the "cuts"

IRS funding is one area, less funding than requested but still given -- claw back on Covid funds, etc. only seeing a few cuts on the read.

__________________
Debt Ceiling Agreement Lifts Student Loan Pause, Cuts Some IRS Funding

https://www.forbes.com/sites/kellyphillipserb/2023/05/29/debt-ceiling-agreement-lifts-student-loan

 

[bdtex]

I believe work requirements are a plus. Time will tell if this even passes.

Debt Deal Cuts $21 Billion Of IRS $80 Billion, 87,000 New IRS Agents Stay

The bill will rescind $21 billion in IRS funding. Some Republicans want deeper cuts, especially to funding those 87,000 new IRS agents.

www.forbes.com

https://www.cnn.com/2023/05/27/politics/whats-in-the-debt-ceiling-deal/index.html

"Debt Deal Cuts $21 Billion Of IRS $80 Billion, 87,000 New IRS Agents Stay"

That's over a 10 year spread. All GOPs did was protect tax cheats.

 

[Addy]

"Debt Deal Cuts $21 Billion Of IRS $80 Billion, 87,000 New IRS Agents Stay"

That's over a 10 year spread. All GOPs did was protect tax cheats.

Have to protect those wealthy guys and the big corporations' mega donors, you know how that goes.

 

[bdtex]

https://www.cnn.com/2023/05/27/politics/whats-in-the-debt-ceiling-deal/index.html

I read your CNN link. McCarthy has been crowing about forcing Joe to the negotiating table. Looks to me like McCarthy really sucks at negotiating. McCarthy got a little something to save face, maybe, but otherwise he got his ass handed to him by Joe. You think 218 House GOPs are gonna vote for that deal?

 

[TBLee]

"Debt Deal Cuts $21 Billion Of IRS $80 Billion, 87,000 New IRS Agents Stay"

That's over a 10 year spread. All GOPs did was protect tax cheats.

You mean like….Hunter Biden??

 

[TBLee]

I read your CNN link. McCarthy has been crowing about forcing Joe to the negotiating table. Looks to me like McCarthy really sucks at negotiating. McCarthy got a little something to save face, maybe, but otherwise he got his ass handed to him by Joe. You think 218 House GOPs are gonna vote for that deal?

McCarthy got something. It was Joe who actually caved. Honestly, as one once said “what difference does it make”. Lol. have no idea if all will vote for the deal. At least there is a tentative deal. I full expect the squad to vote against it.

 

[TBLee]

IRS funding is one area, less funding than requested but still given -- claw back on Covid funds, etc. only seeing a few cuts on the read.

__________________
Debt Ceiling Agreement Lifts Student Loan Pause, Cuts Some IRS Funding

https://www.forbes.com/sites/kellyphillipserb/2023/05/29/debt-ceiling-agreement-lifts-student-loan

A few is better than none. I think the work requirements are a plus.

 

[bdtex]

Whoa! A spin thread. Lol! I'm outta this one.

 

[Addy]

I think the work requirements are a plus.

A small concession, apparently no worries over it.
___________________________
While the new 99-page bill does include changes to work requirements for government assistance programs, White House officials say the agreed-upon language would have “much less severe consequences” than the House GOP legislation.


The White House has also argued that the overall spending agreements are ultimately a win for Democrats; a White House source argued the deal would help avert “enormous cuts to key programs and investments.”

And officials were also quick to point to key priorities that were left untouched in the final legislation, including that there are no changes to Medicare work requirements and that veterans medical care will be fully funded.

How White House and GOP leaders are working to sell the budget deal

After President Biden and Speaker Kevin McCarthy (R-Calif.) signed off on a final budget agreement and a raise of the debt ceiling, the two sides moved onto a difficult task: selling the legislatio…

thehill.com

 

[TBLee]

A small concession, apparently no worries over it.
___________________________
While the new 99-page bill does include changes to work requirements for government assistance programs, White House officials say the agreed-upon language would have “much less severe consequences” than the House GOP legislation.


The White House has also argued that the overall spending agreements are ultimately a win for Democrats; a White House source argued the deal would help avert “enormous cuts to key programs and investments.”

And officials were also quick to point to key priorities that were left untouched in the final legislation, including that there are no changes to Medicare work requirements and that veterans medical care will be fully funded.

How White House and GOP leaders are working to sell the budget deal

After President Biden and Speaker Kevin McCarthy (R-Calif.) signed off on a final budget agreement and a raise of the debt ceiling, the two sides moved onto a difficult task: selling the legislatio…

thehill.com

Worrying about it will not do any of us any good. What will happen will happen. Personally, I lack much faith in our leaders in general, regardless of their political affiliation. It would be lovely if they could meet in the middle.

 

[Dawg]

Have to protect those wealthy guys and the big corporations' mega donors, you know how that goes.

Like Hunter Biden and Trump, etc

 

[Dawg]

Worrying about it will not do any of us any good. What will happen will happen. Personally, I lack much faith in our leaders in general, regardless of their political affiliation. It would be lovely if they could meet in the middle.

It will be what it will be, it's the games politicians play to scare people
not counting my chicks until they hatch
Debt ceiling agreement gets thumbs up from business groups, jeers from some on political right (msn.com)
Politicians are Americans biggest problem, if it was as bad as reported they would be in their seats in DC and not home having parties

 

[TBLee]

It will be what it will be, it's the games politicians play to scare people
not counting my chicks until they hatch
Debt ceiling agreement gets thumbs up from business groups, jeers from some on political right (msn.com)
Politicians are Americans biggest problem, if it was as bad as reported they would be in their seats in DC and not home having parties

When politicians live in the real world, on the income of the average real world…..I will be much more willing to trust them.

 

[Jack4freedom]

You mean like….Hunter Biden??

You really have Hunter deep in your craw TB. What’s up with that? He is not even an elected official, nor has he been deemed a tax cheat by anybody but the right wing noise machine. I find it pretty damn funny that right wingers are so obsessed with this guy. Is it just a matter of reflex training that compels you to blurt out his name impulsively? Personally, I have never examined his tax returns…have you? Lol

 

[Zam-Zam]

Have to protect those wealthy guys and the big corporations' mega donors, you know how that goes.

So, instead of 80 billion in new revenue, they get a measly 59 billion, and that is considered a cut?