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Deal reached on federal budget. Ceiling lifted, no shutdown through 2021

Discussion in 'American Politics' started by essentialsaltes, Jul 22, 2019.

  1. essentialsaltes

    essentialsaltes Stranger in a Strange Land

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    President Donald Trump and congressional leaders announced late Monday they had struck a critical debt and budget agreement. The deal amounts to an against-the-odds victory for Washington pragmatists seeking to avoid politically dangerous tumult over the possibility of a government shutdown or first-ever federal default.

    The deal, announced by Trump on Twitter and in a statement by Democratic House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer, will restore the government’s ability to borrow to pay its bills past next year’s elections and build upon recent large budget gains for both the Pentagon and domestic agencies.

    “I am pleased to announce that a deal has been struck,” Trump tweeted

    Nobody can claim a big win — though they did — but both sides view it as better than a protracted battle this fall that probably wouldn’t end up much differently.

    However, it also comes as budget deficits are rising to $1 trillion levels
     
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  2. cow451

    cow451 Individual-2 Supporter

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    It’s not done until it passes both Houses and the ink is dry. Also, from your link:
    At issue are two separate but pressing items on Washington’s must-do agenda: increasing the debt limit to avert a first-ever default on U.S. payments and acting to set overall spending limits and prevent automatic spending cuts from hitting the Pentagon and domestic agencies in January.
     
    Last edited: Jul 23, 2019
  3. mark46

    mark46 Well-Known Member Supporter

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    Celebration should wait until the bill is signed.
     
  4. rambot

    rambot Senior Member

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    Why should you need that? The party of fiscal responsibility is in charge.....weird.
     
  5. mark46

    mark46 Well-Known Member Supporter

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    ???

    Both parties and the president need to approve the deal.

     
  6. essentialsaltes

    essentialsaltes Stranger in a Strange Land

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    National Review puts it in perspective, now that the King of Debt is in charge.

    New Budget Deal Puts Final Nail in the Tea-Party Coffin

    The conventional wisdom among Washington Republicans is that populist conservative voters no longer care about spending or deficits.

    President Trump and congressional leaders are nearing a deal that would raise the discretionary-spending caps by $320 billion over two years and offset less than one-quarter of those costs (and even those offsets would take a decade to materialize). The budget deal would essentially repeal the final two years of the 2011 Budget Control Act and raise the baseline for future discretionary spending by nearly $2 trillion over the decade.

    This represents a fitting conclusion of the Budget Control Act — the crown jewel of the 2011 “tea-party Congress.” The decade-long shredding of these hard-fought budget constraints mirrors the shredding of Republican credibility on fiscal responsibility.
     
  7. essentialsaltes

    essentialsaltes Stranger in a Strange Land

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    Passed the House. Despite Trump's support, a fair number of Republicans opposed it. The Squad was also divided 2/2 on it. Goes to the Senate next week.

    After the House voted to pass the budget and debt limit deal, Republican Rep. Thomas Massie of Kentucky took to the floor in protest, offering an amendment to change the title of the bill to "A bill to kick the can down the road and for other purposes."

    The announcement was met with a mixture of boos and applause inside the gallery.

    Conservatives have voiced objections to the bill for failing to rein in spending, but Massie's suggestion was voted down with 47 yeas and a resounding 384 nays. It did win some bipartisan support, however: 5 Democrats voted in favor.
     
  8. essentialsaltes

    essentialsaltes Stranger in a Strange Land

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    Passed the Senate.

    The bipartisan legislation, which was approved in a 67-28 vote, raises the debt ceiling past the 2020 elections and allows $1.3 trillion for defense and domestic programs over the next two years.

    "This is the agreement the administration has negotiated. This is the deal the House has passed. This is the deal President Trump is waiting and eager to sign into law," McConnell said on the Senate floor.

    Sen. Rand Paul, R-Ky., said the deal marked the death of the fiscally conservative Tea Party movement. Paul called the move part of a spending problem in Washington, D.C., and said it binds future generations to massive levels of debt.
     
  9. cow451

    cow451 Individual-2 Supporter

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    :ebil: Republicans and Democrats finally agree on Deficits for all!
     
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  10. Nithavela

    Nithavela lologist

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    Doesn't matter how clogged the toilet is when you can keep raising the ceiling.
     
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