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BumRushDaShow

(145,400 posts)
Thu Jan 16, 2025, 02:45 PM Yesterday

House GOP's Budget Hawks Now Want A $4 Trillion Debt Limit Hike

Source: Huff Post

Jan 16, 2025, 11:41 AM EST


The House Freedom Caucus, a group of hard-right conservative and libertarian Republicans, wants a $4 trillion hike in the nation’s debt limit as part of the GOP’s big but still-developing tax and spending cut plans.

A hike in the debt limit would allow the government to continue borrowing to repay past debts and keep it from defaulting on the current $36 trillion-plus in outstanding debt. A default by the U.S. on its debt would trigger catastrophic economic consequences, economists say.

In a social media post early Thursday, the Freedom Caucus proposed the $4 trillion hike as part of a package of spending increases for increased border security and boosting the Pentagon’s budget. They said the boost would allow borrowing for another two years. The group, which has long been a thorn in the side of House GOP leaders with its demands for more hard-line policies, said the hike would have to be accompanied by “dollar-for-dollar” spending cuts over 10 years.

“Our proposal is a Republican plan that can reach 218 votes, that would allow us to keep the ball on the Republican side of the field for defense and non-defense appropriations ― while delivering wins and uniting the conference,” the group said in its post.

Read more: https://www.huffpost.com/entry/house-gop-hardliners-want-4-trillion-debt-limit-hike_n_67891ba7e4b0ebaad44f0d20

24 replies = new reply since forum marked as read
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House GOP's Budget Hawks Now Want A $4 Trillion Debt Limit Hike (Original Post) BumRushDaShow Yesterday OP
flip-floppery is a republicon speciality BoRaGard Yesterday #1
So. They want to have their cake and eat it too. Good luck with that. nt CaliforniaPeggy Yesterday #2
It's like clockwork with these people. Scrivener7 Yesterday #3
Yep, they fuck things up so bad that Democrats can't fix them in 4 short years..... groundloop Yesterday #7
The "Two Santa Claus" problem... keep_left Yesterday #11
Of course they do. They know they can't cut enough of the budget and keep Trump's stupid tax cuts without borrowing mon. Ray Bruns Yesterday #4
Why in the hell they just simply do away w/ the debt limit? All this limit is, is something that both political parties SWBTATTReg Yesterday #5
Democrats are the only ones who have ever left a surplus for the next administration: Bill Clinton BComplex 4 hrs ago #23
The simple answer neohippie Yesterday #6
I don't care what the statement reads Pototan Yesterday #8
And that is what Jefferies has said....that it won't pass without dem help. I believe him PortTack 23 hrs ago #15
the Party Of Fiscal Responsibility RainCaster Yesterday #9
Rescind tax cuts for over 1million yankee87 Yesterday #10
Oh wow! Im bowled over by all slightlv Yesterday #12
No Nasruddin 23 hrs ago #13
No no. No no n no do not spend our money!!!!!! Trueblue1968 23 hrs ago #16
Increasing the deficit, raising the bond yield, increasing mortgage rates. erodriguez 23 hrs ago #14
Who benefits and how. Irish_Dem 13 hrs ago #19
of course Quanto Magnus 19 hrs ago #17
There They Go Again DallasNE 18 hrs ago #18
Of course they do. A republican is about to become president so deficits don't matter anymore. Ray Bruns 12 hrs ago #20
At the same time they are demanding - TAX CUTS! Grins 10 hrs ago #21
So they will just give citizen's money to the wealthy regardless of how far in debt the country needs to go to do so. Martin68 6 hrs ago #22
And the MAGA Morons won't know the difference. travelingthrulife 4 hrs ago #24

groundloop

(12,432 posts)
7. Yep, they fuck things up so bad that Democrats can't fix them in 4 short years.....
Thu Jan 16, 2025, 04:14 PM
Yesterday

Then blame Democrats for all the problems they caused.

keep_left

(2,593 posts)
11. The "Two Santa Claus" problem...
Thu Jan 16, 2025, 08:13 PM
Yesterday

...as popularized by Thom Hartmann. ( Actually, Hartmann calls the dilemma "shooting Santa Claus" ). Chomsky refers to it as an intentional "fiscal trainwreck".

https://en.wikipedia.org/wiki/Jude_Wanniski#The_Two_Santa_Claus_Theory

Ray Bruns

(4,809 posts)
4. Of course they do. They know they can't cut enough of the budget and keep Trump's stupid tax cuts without borrowing mon.
Thu Jan 16, 2025, 03:13 PM
Yesterday

Money.

SWBTATTReg

(24,528 posts)
5. Why in the hell they just simply do away w/ the debt limit? All this limit is, is something that both political parties
Thu Jan 16, 2025, 03:47 PM
Yesterday

use to stick into each other's faces when the debt limit is reaching its limit.

I'd say let the markets decide when the debt limit has been reached, and react accordingly, as the money markets usually do, when a company or such defaults on their obligations.

But Nooooo, they won't do this, they want to volleyball this issue back and forth. It's getting a little tiresome and old.

BComplex

(9,196 posts)
23. Democrats are the only ones who have ever left a surplus for the next administration: Bill Clinton
Fri Jan 17, 2025, 03:44 PM
4 hrs ago

Republicans always binge on a credit card, make the economy falsely appear like everyone's doing great, and then wait for the dems to clean up after them. The media has always ALWAYS credited them with the party they create, and never with the hole the republicans dig the country into.

neohippie

(1,178 posts)
6. The simple answer
Thu Jan 16, 2025, 04:01 PM
Yesterday

Extending Trumps tax cuts for the most wealthy costs the same amount $4 Trillion why didn't they notice that simple solution
Don't extend the tax cuts and you would have the money without expanding the debt

Pototan

(2,189 posts)
8. I don't care what the statement reads
Thu Jan 16, 2025, 05:56 PM
Yesterday

they can't get every Repuke vote for $4T.

And the Dems won't give them that much, especially once the cuts are incorporated.

PortTack

(34,990 posts)
15. And that is what Jefferies has said....that it won't pass without dem help. I believe him
Thu Jan 16, 2025, 09:14 PM
23 hrs ago

RainCaster

(11,766 posts)
9. the Party Of Fiscal Responsibility
Thu Jan 16, 2025, 06:13 PM
Yesterday

How else will they pay for those tax breaks the rich need so desperately? Push that debt off to another generation of MAGA spawn who will have to pay for it.

slightlv

(4,645 posts)
12. Oh wow! Im bowled over by all
Thu Jan 16, 2025, 08:17 PM
Yesterday

This fiscal responsibility! /snark

4 trillion dollars for 19th and 20th century theories on border security, and money for all the wars they're planning. Hope the magas are happy, because it will be at the expense of Ss and Medicare... which is not part of the debt... and spending on food vouchers for the least among us.

How so utterly Christian of them. They do so have the moral high ground, eh? /snark.

DallasNE

(7,620 posts)
18. There They Go Again
Fri Jan 17, 2025, 01:41 AM
18 hrs ago

Setting a target amount without first putting together the proposed spending budget would be a mistake. I think the actual number based on a proposed budget would need to be larger—perhaps $5.5T. It would take 60 votes in the Senate, but I think the better option would be to cancel the Wilson-era law that established the debt limit in the first place. That may force Congress to use the Committees to write the Appropriation measures to fund the government and how to pay for it.

Ray Bruns

(4,809 posts)
20. Of course they do. A republican is about to become president so deficits don't matter anymore.
Fri Jan 17, 2025, 07:43 AM
12 hrs ago

Even stinky knows he can’t cut enough out of the budget and keep his tax cuts without borrowing money to pay for it.

Grins

(7,976 posts)
21. At the same time they are demanding - TAX CUTS!
Fri Jan 17, 2025, 10:16 AM
10 hrs ago

Because to Republicans - Tax cuts are "Magic Beans™!"

Martin68

(24,822 posts)
22. So they will just give citizen's money to the wealthy regardless of how far in debt the country needs to go to do so.
Fri Jan 17, 2025, 01:41 PM
6 hrs ago

After all their BS about fiscal responsibility. Every time a Republican becomes president we go farther in debt.These people are traitorous criminals.

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