McCarthy OKs “Higher Debt Ceiling in Exchange for Increased Gov’t Spending”

Speaker McCarthy wants you to believe in the greatness of the Republican debt ceiling [surrender] bill. Its greatness is evidenced by the fact that the Democrats are complaining. However, they are complaining because they wanted an enormous increase in spending.

The Republican debt ceiling deal:

• Increase spending.
• Keep the green new deal.
• Keep the student loan bailout.
• Keep almost all the IRS funding. Most of the soon-to-be 87,000 IRS agents will be protected to hound gig economy workers and other low to middle-class workers.
• Not enforceable. They say it is enforceable, but there aren’t any legal mechanisms to enforce it.
• Increase the debt ceiling by about $4 trillion over two years to avoid a pre-2024 election fight. It’s unlimited in that it will remain uncapped until Jan. 1, 2025. By Jan 2025, we will have a $36 trillion debt.

Wall Street Silver says that during the recession, “if tax revenue declines and spending increases, they can borrow an unlimited amount of money for the spending spree to re-inflate the economy.”

This means that during the next recession in 2023-2024 if tax revenue declines and spending increases, they can borrow an unlimited amount of money for the spending spree to re-inflate the economy.

— Wall Street Silver (@WallStreetSilv) May 28, 2023

• There are NO meaningful caps on discretionary spending until 2025.
• Republicans were able to get some work requirements for welfare benefits.

The increase in spending is a one percent increase in discretionary spending, but the bill will increase military and veteran spending.

The only cuts are in future spending growth, not actually real cuts in any spending. The debt will still grow. The green new deal will continue. The IRS will haunt you. Democrats will find excuses to spend, and Republicans will cave.

.@SpeakerMcCarthy defends offering a higher debt ceiling in exchange for increased govt spending: “We let government grow, but at a slower rate” pic.twitter.com/ZErpivTNhY

— Tom Elliott (@tomselliott) May 28, 2023

According to the media, if you don’t love this bill, you’re a far right-wing arsonist.

Fake conservatives agree to fake spending cuts. Deal will increase mandatory spending ~5%, increase military spending ~3%, and maintain current non-military discretionary spending at post-COVID levels. No real cuts to see here.

Conservatives have been sold out once again!

— Rand Paul (@RandPaul) May 28, 2023

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