As new debt limit showdown looms, lawmakers consider long-term solutions

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As Congress prepares for yet another showdown over the debt ceiling, long-term solutions for addressing what has become an increasingly partisan issue are re-emerging.

in Roll Call that one reform could involve tying the debt ceiling to the budget process and giving the president the power to suspend the debt limit if needed.

“I’m opposed to it and I don’t believe that we should consider it seriously,” she said in an interview on CNBC. “It’s really a gimmick.”A default on U.S. debt — which would be the first in the country's history — would"probably cause a recession” and could put Social Security and child tax credit payments in jeopardy, Yellen has said. Defense Secretary Lloyd Austin also said that the U.S. military might not be able to pay service members, civilians or contractors.

McConnell has said Democrats should handle the issue on their own given that they have pursued a big social safety net spending agenda without GOP support.

 

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Not really necessary. Gov't Debt to GDP is much higher in European countries and Japan. -Just don't expect to buy everybody out, like they do. You'll start to encounter 'maidenform' logic; Its always strangely disproportionate.

They don’t give a crap about the deficit. Just a reminder when they all voted for the Trump tax cut for business and the rich.

Why don’t they just send Ellie Mae down to Mr. Drysdale’s bank and fetch back a big sack full of money

Thanks to you guys i got notting for thanksgiving and i hope i can get something for my kids for Christmas. Still whating on my 3 stimulus check i am on ssa disability. Its sad to ask for help and not getting nothing i now its god looking from above..

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