Tuesday, May 30, 2023

Debt Ceiling Crisis- We've Been Down This Road Before

Obama agreed to $2.1 trillion in spending cuts to end debt ceiling crisis. Here’s what happened next.
"Congress then watered down the deficit reduction provisions by repeatedly increasing the caps on discretionary spending in the following years – though lawmakers also included other measures to offset some of those changes."

Political Battle Over the Debt Ceiling in 2012
A ' FRONTLINE' Documentary (Aired 2013)

Even if some Republicans manage to get their way in the next few days forcing us into default there's no reason this time would be any different then the last. Congress has proven time and again they are the worst money mangers in the world.

Is there a lot of waste which can be cut? Absolutely, but show me one congress member who's going to take the hit in their district. Rather a hopeless situation don't you think?

1 comment:

  1. As for a so-called default, we are now paying the debt using our current tax income. If we don’t increase spending, why would we all of a sudden not be able to pay our bills?

    This nation’s problem is SPENDING. I see no reason why every department and agency wouldn’t be able to survive at the debt ceiling amount we have in place now. Geez, even a 5 percent cut in various budgets shouldn’t be too difficult for anyone.


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