Debt Ceiling is Glass prepared to shatter again
Written by Peter Boykin on January 11, 2023
Shared By Peter Boykin – American Political Commentator / Citizen Journalist
Debt Ceiling is Glass prepared to shatter again so
Former President Donald Trump posted
[IN ALL CAPS 😂] the following message:
“REPUBLICANS CAN GET ALMOST EVERYTHING BACK THAT “THE OLD BROKEN CROW,” MITCH McCONNELL, AND THE REAL “LEADER,” CHINA CENTRIC COCO CHOW, STUPIDLY GAVE UP TO THE DEMOCRATS OVER THE LAST TWO YEARS, BY SIMPLY PLAYING TOUGH IN THE UPCOMING DEBT CEILING NEGOTIATIONS. WITH THE “RIGHT” NEGOTIATORS, LIKE ALL OF THOSE INVOLVED THE OTHER NIGHT (ON BOTH SIDES!) FOR SPEAKER, IT WILL BE A BEAUTIFUL AND JOYOUS THING FOR THE PEOPLE OF OUR COUNTRY TO WATCH. MAKE AMERICA GREAT AGAIN!!!”
Tucked in between [justified] insults directed at Mitch “the old broken crow” McConnell and praise for the new GOP-led House is a topic we should all be brushing up on in the coming weeks: the debt ceiling.
As Trump correctly points out, if Republicans have the fortitude, they can use the debt ceiling to control a lot of the damage that Joe Biden and the Democrats are doing to our economy, the border, and more.
What is the debt ceiling?
It’s the legal limit on the amount of debt that the U.S. government can take on. This limit is set by Congress and can be raised or lowered as needed. When the government reaches the debt ceiling, it can no longer borrow money to finance its operations.
The current debt ceiling limit is $31.4 trillion.
We will reach that limit sometime within the next few months.
…and when we do reach that limit, Biden will look to Congress to authorize raising it.
This is when the ball rolls onto the GOP’s court.
Refusing to raise the limit will leave no choice but to cut spending in the next budget:
The result would force a $130 billion (8%) cut.
That’s when the GOP-led House can flex it’s muscle, and:
pull funding for Biden’s 87,000 new IRS agents
revoke funding for DOJ that targets American citizens
force border wall funding and eliminate funding for processing illegals into the country
pull back funding for Ukraine
…just to name a few
The left will revert to it’s usual fear-mongering on the issue, saying that if we don’t raise the debt ceiling we will default on our debts and risk “the full faith and credit” [pay attention to how many times you hear this phrase] of the United States.
It’s a lie.
But this is our leverage point. When the time comes, I hope Republicans have the courage to use it.
[Source: Heritage Foundation, Breitbart]
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