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

[BumRushDaShow]

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

[BoRaGard]

1. flip-floppery is a republicon speciality

[CaliforniaPeggy]

2. So. They want to have their cake and eat it too. Good luck with that. nt

[mpcamb]

29. How soon will you and I have to begin paying that off? Or do we leave it for the grand kids?

[Scrivener7]

3. It's like clockwork with these people.

[groundloop]

7. Yep, they fuck things up so bad that Democrats can't fix them in 4 short years.....

Then blame Democrats for all the problems they caused.

[keep_left]

11. The "Two Santa Claus" problem...

...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. Of course they do. They know they can't cut enough of the budget and keep Trump's stupid tax cuts without borrowing mon.

Money.

[SWBTATTReg]

5. Why in the hell they just simply do away w/ the debt limit? All this limit is, is something that both political parties

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]

23. Democrats are the only ones who have ever left a surplus for the next administration: Bill Clinton

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]

6. The simple answer

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]

8. I don't care what the statement reads

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]

15. And that is what Jefferies has said....that it won't pass without dem help. I believe him

[RainCaster]

9. the Party Of Fiscal Responsibility

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.

[yankee87]

10. Rescind tax cuts for over 1million

Go and rescind the tax cuts of the last ten tax cuts

[slightlv]

12. Oh wow! Im bowled over by all

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.

[Nasruddin]

13. No

Time for Republicans to learn about tit-for-tat prisoner's dilemma

[Trueblue1968]

16. No no. No no n no do not spend our money!!!!!!

[erodriguez]

14. Increasing the deficit, raising the bond yield, increasing mortgage rates.

[Irish_Dem]

19. Who benefits and how.

[Quanto Magnus]

17. of course

It's their guy...........

[DallasNE]

18. There They Go Again

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]

20. Of course they do. A republican is about to become president so deficits don't matter anymore.

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]

21. At the same time they are demanding - TAX CUTS!

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

[Martin68]

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.

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

[travelingthrulife]

24. And the MAGA Morons won't know the difference.

[Yo_Mama_Been_Loggin]

25. For the billionaire tax cuts

[Midnight Writer]

26. Question. If they insist on "dollar for dollar" spending cuts, why do they need to increase the debt ceiling?

[C_U_L8R]

30. Fiscal conservativism, what a joke

These clowns only know how to run up the bills, stuff their pockets, and bankrupt things.

[keithbvadu2]

31. An instant $4 trillion debt hike with mythical spending cuts is fiscal conservatism?

Yeah! Right!

[Blue_Tires]

32. Right on fucking cue

Now that Trumpers are back in power, all of a sudden nobody gives a shit about the budget or deficits anymore 😒