Breaking news: The Senate has passed a bipartisan bill to suspend the debt ceiling and curb federal spending, sending the legislation to President Biden to sign into law before Monday’s deadline to avert an unprecedented U.S. government default. https://t.co/UjfjMKELsT— The Washington Post (@washingtonpost) June 2, 2023
I need you to know, first and foremost, I hate this shit in theory. The debt ceiling thing should not exist. We should just pay our debts the way the Constitution says we must. If we are concerned about spending, the Congress should act on this with an actual budget that reduces spending and perhaps, and this the important part--considers raising revenues by going for the people who have money.
But I am very happy that the Democratic House Members under the leadership of Hakeem Jeffries agreed to a bitter debt ceiling deal that was not clean, and that the Democratic Senate also voted to avert a financial catastrophe. The next debt ceiling deadline is in 2025--when maybe a second Biden term will have an even better hand to work with.
We need to give Shalanda Young from OMB her flowers, because she was a crucial negotiator in this battle. She was determined not to let this default happen.
And let's really bask in the accomplishments of the Biden economy. Record low unemployment. And a significant lowering of inflation over last year.
I don't understand anyone wanting to fuck up a good deal for Americans. I don't understand rooting for failure. I think patriotism is when you want your countrymen and women to do well, right? And I think the side that doesn't do that is...problematic. Maybe they should even be unelectable. Because I don't think anyone should be rewarded for any attempt to screw up the economy upon which so many depend. It is too serious a thing for silly assholes to play games with.