Read the Debt Ceiling Bill Here

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Speaker McCarthy, who initially tried to sell the deal by saying Republicans made no concessions, released the bill late Sunday on Memorial Day weekend. You can read it below. The Fiscal Responsibility Act of 2023 will suspend the debt ceiling for roughly two years in exchange for bigger government and a decrease in the increase in spending. Unfortunately, without a debt ceiling, Democrats can substitute borrowed money for lost revenue.

Rand Paul tweeted. “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!”

We are keeping all the wild trillions spent under COVID. Democrats and the media are mostly pleased and surprised at how well they did.

They have included no enforcement mechanism to enforce any of it.

Maybe it’s the best they can do? [wpdiscuz-feedback id=”7m05tvtaq3″ question=”Please leave a feedback on this” opened=”0″][/wpdiscuz-feedback]They don’t have a lot of leverage. It bothers me when they tout it as something it’s not.

We mustn’t forget that Biden holds all the cards and has turned his back on America. He’s the America Last president. He is to blame.

The GOP Statement

The bill, dubbed the Fiscal Responsibility Act of 2023, will suspend the debt ceiling for roughly two years in exchange for a slew of spending clawbacks and other reforms. Treasury Secretary Janet Yellen most recently projected that the government has until June 5 before it could start running dry on cash to meet its obligations if no debt limit hike occurs.

“The American people elected House Republicans to stop the out-of-control inflationary spending that has broken family budgets. Today, we secured a historic series of wins worthy of the American people,” McCarthy, Majority Leader Steve Scalise (R-LA), Majority Whip Tom Emmer (R-MN), and Chairwoman Elise Stefanik (R-NY) said in a joint statement. “We cut spending year-over-year for the first time in over a decade while fully funding national defense and veterans’ health benefits, include the largest rescission in history by clawing back billions in unspent COVID funds, and achieve consequential work requirements to welfare programs to lift Americans out of poverty and grow the economy. We enact for the first time into law ‘Pay-Go’ rules for the Executive Branch, which forces the Executive Branch to find dollar-for-dollar savings in the government for costly rules and regulations, so that executive overreach is reined in and held accountable. And in order to help grow our economy and lower costs for the American people, we streamline the process for permitting in America and begin to prune an overgrown federal bureaucracy that has expanded during the Biden administration.

“The Fiscal Responsibility Act does what is responsible for our children, what is possible in divided government, and what is required by our principles and promises. Only because of Republicans’ resolve did we achieve this transformative change to how Washington operates.

“We are just 140 days into this Republican majority. And we’re just getting started.”

The debt ceiling bill can be read here or below.

BILLS 118hrPIH Fiscalrespon… by Maura


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6 COMMENTS

  1. McCarthy is showing his true colors – He’s a Coward! His balls are still in Hillary’s Testicle Lock-box. Replace Him! All the Republicans have to do is nothing. Not raising the Debt Ceiling forces the Federal Government to operate with a Balanced Budget. The Government takes in plenty of Money. The Government can prioritize and spend the money that the IRS takes in.

    Not raising the Debt Ceiling will destroy the Democrat Party and the Deep State in one Knockout Blow. Democrats can’t cut Social Security or Medicare. That will destroy the Federal Government since those are “Paid For” Programs. Democrats won’t have any money for Ukraine or Housing Illegal Aliens. The Illegal Alien problem will blow up in the Democrat’s face. The Military may be needed to control that problem. If Democrats cut the Military, they will be crucified, If they Cut Safety Net Programs they will be crucified. The only real option for the Democrat Biden Regime is a massive Government shutdown, a real shutdown, and massive Government Employee Layoffs. Every Pork Contract will have to be suspended and eventually cut. Any mistakes in Priorities will hurt the Democrats severely!

    Not Increasing the Debt Ceiling is basically a forced Balance Budget Amendment. That will set the stage for a formal Balanced Budget in October where the Congress can totally defund and resend Wasteful Federal Government Offices on a whole sale basis. Not Increasing the Debt Ceiling will quickly show us what Programs aren’t needed and which Programs are bloated. The Bureaucrats will be forced into a Death Match for survival. They will have to cut to the bone and prove they are a critical program. The Federal Bureaucracy is over 75% Bloat!

    People are hurting Financially. All the Republicans have to say is this was needed to halt the Collapse of the US Dollar and the failure of Government since the Biden Administration Policies created Uncontrollable Stagflation. If the Dollar fails now, it’s because the Democrat Biden Administration Mishandled Priorities. They continued their War on Fossil Fuel and continued to Cripple American Business with Over Regulation. They refused to put The People and America First!

  2. McCarthy has 5 months in failed as speaker. The GOP is now useless and it is sabotaging its chances to win in 2024.

    • Trump is not the one who supported McCarthy. Trump cast no vote for speaker. Trump has nothing to do with this bill. He was not in the negotiations and has no knowledge of its content. That is a cheap attack.

      • Trump wants no Debt Ceiling Deal. He wants the Federal Government to live within their means like every functional household in America has to.

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