Debt Limit
House Passes Bill To Suspend Debt Limit, Avert Shutdown
Last Tuesday, the House passed legislation that will prevent a government shutdown as well as suspend debt limit. In a strictly partisan vote, the measure passed on a vote of 220-211.
Even as House Democrats celebrated the win, the bill will now head to the Senate. In order to pass, the bill will need at least 10 Republican votes. Good luck, Democrats!
RELATED: McConnell Says GOP Will Vote Against Debt Ceiling Raise
Senate Vote Nears, Republicans Vow Not To Suspend Debt Limit
Senator Minority Leader Mitch McConnell (R-KY) remains adamant that the Democrats can work on this problem themselves. He vowed that Republicans will not extend a helping hand despite pleas from the Biden White House to suspend the debt limit.
The debt limit or debt ceiling is the legal limit for what the federal government can borrow to avoid defaulting on its previous debts.
Around 46 out of 50 Republican senators confirmed that they will not support a bill suspending the debt limit. They pointed out that the Democrats are using the budget reconciliation process to include provisions to their $3.5 trillion spending program. Reconciling the budget will require a simple majority vote and will prevent a filibuster.
Democrats To Push Through With Senate Bill Calling To Suspend The Debt Limit
Despite the GOP’s warning, the Senate Democrats will push through with a senate bill to suspend the debt limit until December 2022. The move looks to pressure Republicans into caving in to their demands to avert a government shutdown on October 1.
It also remains unclear if a Democrat reconciliation process will make it in time for the deadline to suspend the debt limit.
Previously, the US reinstated the debt limit last August 1. Treasury Secretary Janet Yellen warned lawmakers that if Congress fails to suspend the debt limit, the federal government will shut down in October as it loses its ability to pay its bills.
Democrats Grasping At Straws To Get Republicans To Vote
In addition, Democrats reminded Republican lawmakers that they cooperated with GOP officials on previous acts to suspend the debt limit. In fact, Democrats helped the GOP three times during the administration of former President Donald Trump.
They argued that matters such as the debt ceiling need bipartisan support. This is mainly because US debt obligations are for projects that have already received previous approval.
‘It Is Our Debt’
House Majority Leader Steny Hoyer (D-MD) said he hopes the GOP realizes that they’re all in this together. “I hope Republicans will be consistent and will do as they did before: vote to prevent a default and spare the American people from yet another damaging economic crisis right as we are coming out of a pandemic,” he said.
“This is not a Democratic debt. It's not a Republican debt. It is our debt. It is the debt of the United States of America. We don't welch on our debts. We pay our debts,” he added.
However, it will take more than a need to honor their debt to make Republicans listen. For Republicans dug in their heels. “The bill that Speaker [Nancy] Pelosi [D-CA] is bringing through this week will not become law. They're going to have to go back to the drawing board,” said House Minority Whip Steve Scalise (R-LA).
Watch the Forbes Breaking News video reporting that the House suspends the debt ceiling on a party-line vote. Bill now moves to Senate:
Loading ...Do you agree with the Republicans that the Democrats are on the hook to suspend the debt limit? Can the Republicans willingly ignore the threat of the US defaulting on its debts, or will they reluctantly help the Democrats?
Let us know what you think by sharing your thoughts below.
14 Comments
well if they are for the people of our contrary like we think they are then yes I do believe they will do there best to stop such a foolish thing to are people and contrary
It is a way to stop the out of control spending We have all of these people to get back to work Then more revenue flowing in but this number that most never thought we would ever see If we do not stop the insanity now we all lose The dollar will be worthless This will be the last link to super inflation So it is time to dig your heels in and do not take one step back This cannot be allowed to happen STOP THE INSANITY There are wants and there are needs and at this time all of the wants are gone We support no one for the year We pay our bills without taxing our citizens Wake up smell the coffee these other countries hate us anyway Go to other countries and some will be nice but not talk some will talk but most will just look at you When you can get one to loosen up They will say what they think is happening We are becoming dirt all because the scum that are I supposed leaders They go home I have the squirts What a low life Biden is A liar and braggart
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We are the people of this country who voted for you. To do the job as our Representives of Congress. Stop the nonsense enough already. We have been
done this road so many times not even funny. Preventing a government shut down. Work together and come up with a solution both parties agree on. Play nice in the sand box and stop pointing fingers at one another.
The Democrat says this is a US problem not a Republican or Democrat problem and THEY are all in this together. Well that is Bullsh*t. The Democrats are the cause of ALL this B/S just because WE THE PEOPLE voted Trump into office !!!The election of 2020 was rigged to get Biden into office and he has really screwed everything up !
They always assassinate or try to the good ones..ie: Kennedy, Reagan etc..where are the assassinators now..
WE ARE THE DEMOCRATS FOR THE PEOPLE !!!!!
We need to stop the Democrats they are destroying our country and our people They are pure evil
CORRECTION: WHERE ARE THE DEMOCRATS FOR THE PEOPLE!!!!…sorry
Make sure your gums are clean you have plenty of ammo toilet paper and bottled water and start learning how to grow garden
Arguing that desperate times require desperate measures like suspending a protective debt ceiling in one breath, then propose what adds up to a 4.5 TRILLION spending spree, is a classic example of profound out of contol spendaholism.
That is how we wound up with over 28 TRILLIONS USD of crippling federal debt (The whole World produces only 22 TRILLIONS USD wealth in one year).
Pry the credit card out of the Progressives and RINOs fingers.
Remove them from seats of office and into the history books.
Because this is life and death for the Nation.
The liberals are destroying the country.
Isn’t it amazing how the demon-crats are now saying “as we are coming out of a pandemic”? I thought they were now pushing a new pandemic. Which is it?
Also, the government can pay their bills if they do what all the corporations in this country do…layoff workers (or since they are in the government, all the non-workers). Hey, I have an idea, layoff all the people in the IRS–that alone should save us a couple trillion–and place a flat tax on everyone, then there would be no need for the IRS and no one could get away will tax fraud.
OMG!!! what a simple and brilliant idea!!!
GREAT IDEA SIR!!!HOW CAN WE GET THIS BALL ROLLING??ALSO, FIRE SHUMER, PELOSI AND HER MINIONS FOR THE PATHETIC WAY THEY TRY TO RIPOUR COUNTRY APART
The problem is it is to easy for our Government to spend our money, and if someone disagrees with them they use propaganda to demonize, or paint a picture that their opposition don’t know what’s good for the country. It is also to easy for them to overspend and then say we need to raise taxes to pay for this, which simply means they get to spend more of working people’s money.
I am just a high school graduate but I know enough to know that you can’t borrow your way out of debt. I also know the bible says the debtor is a slave to the lender. So we are either borrowing the money from our enemies, or printing money which devalues what is currently in circulation causing inflation to rise. Both increasing debt, or printing more money harms the nation.
I am not saying borrowing is all bad as most homeowners have a mortgage, but they understand what the payment is going to be and how long it will take to pay off the debt, our federal government cannot provide us either one.
THREE TIMES ex-president Trump put us in this position. All three times, Democrats worked with him to avert govt shutdowns, but even with compromise the federal govt was shut down in January 2019. The comments here do not mention a whisper of reducing our monstrous defense budget. Our servicemembers from every branch are paid lowly wages. An E4 with a spouse and one child QUALIFY for FOOD STAMPS. Say you support the troops? Pay to support our troops! (Knock off a single jet fighter or naval destroyer or, or, or to pay for it.) Now, ~unite~ to keep our govt running “smoothly” instead of causing another shutdown and costing more to restart it than we save by bickering. STOP DIVIDING this ~United States~
I hope the Republicans hold the line. Someone has to show responsibility. I have been. A democratic my whole life until Trump. The boardroom president. He knows how to get things done for the people he works for.