Last modification by Nathan- 54 years ago, there is

The debt ceiling uncapped… we're going to be smothered!

InsolentiaeThe debt ceiling uncapped… we're going to be smothered!

Insolentiae – May 31, 2023

Charles SANNAT's editorial

   

The worst will not happen, and objectively, the Republicans, finally the Republican "Speaker" Kevin McCarthy rather crashed and the agreement they theoretically reached between McCarthy and Biden leans without question for a victory almost by White House knockout.

Indeed, the debt ceiling is not raised by a few tens of billions, or even a few hundred.

No.

It is simply deleted.

What am I saying, it is suspended.

It is a "no limit" mode which is now possible for the White House... until 2025.

All this remains a provisional agreement insofar as it must be validated by the representatives in the House, but something happened in the United States.

When we look in detail at the planned agreement, overall nothing is happening. Social spending is not being cut, nor is environmental spending, let's just say they agreed to build more wind turbines and also more oil wells! But again, that's not important. Nor is ceasing to spend “Covid” funds economically meaningful.

So let's go to the essentials that this agreement does not say.

Don't tell you.

And that no one noticed.

But why switch to "no limit" mode and no more ceiling until 2025?

Why?

Why not add a limit of 2000 billion, come on, let's be crazy, the current debt is more than 31 billion dollars, we could even have added 000 billion dollars to give ourselves some slack.

Here, it's limitless.

The cap no longer exists for the next two years?

Why?

read the article