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Trump Wants to Eliminate the Debt Ceiling. He’s Right.
Yesterday, President Trump infuriated fellow Republicans by agreeing to Democratic plans for a short-term debt-ceiling hike, rather than the longer-term one they favor. But something far more significant came out of the meeting: Trump and the Democratic leadership reportedly made a handshake agreement to abolish the debt ceiling altogether. During the Obama presidency, House Republicans used the threat to refuse to lift the debt ceiling as blackmail to force the president to give them unilateral policy concessions. The main Republican goal appears to be maintaining their ability to use this weapon against Democratic presidents while minimizing the threat it poses to Republican ones. Paul Ryan opposes the abolition of the debt ceiling because, he says, “there’s a legitimate role for the power of the purse of the Article 1 powers and that’s something we defend here in Congress.” This is utter bunk. The power of the purse has nothing to do with the debt ceiling. Congress votes to determine the federal budget — i.e., the power of the purse. The debt ceiling is a separate vote it must also take to authorize the debts already incurred; authorizing an increase in the debt ceiling does not cause more spending.
originally posted by: Phage
a reply to: carewemust
Yeah. Republicans suck.
Right? Time to dump 'em!
Bring on 2018!
In an interview on Sunday's edition of "60 Minutes" on CBS, Bannon said congressional Republicans pledged to Trump they would be able to eliminate the Affordable Care Act by Easter — a timetable the Trump administration agreed to so it could move on to other matters.
"Paul Ryan and these guys come in and said, 'We've done this for seven years. We've voted on this 50 times. We understand this issue better than anybody. We know how to repeal and we know how to replace, and this is ours. That's what we're going to start with day one, and we will have something on your desk by Easter,' " said Bannon, explaining the promise from Capital Hill.