Debt limit talks seem to make little headway as Biden, world leaders watch from afar for progress

Negotiations had came to an abrupt standstill Friday morning when McCarthy said it was time to “pause” talks. Then the teams convened again in the evening, only to quickly call it quits for the night.

Pure political theater...Kevin having to show he's "strong" when in fact he is the weakest Speaker ever, beholden to the extremist far-right "crazies" in his party...who will throw him out at the first opportunity...

Regarding this impasse, one of our MAGA posters admitted the truth yesterday;

*But gained the House in 2022, the purse, starving the Dems out of spending is a good thing.*

There it is - an admission that the Repubs own "the purse" and control whether we default on our debt or not...

If they decide to go over the cliff, the public will clearly hold them accountable, and add financial catastrophe to abortion and gun control as the key issues routing Repubs from office nation-wide in 2024...

Not a wave, but "The Great Red Rout"...

Rep. Patrick McHenry, R-N.C. was asked if he was confident an agreement over budget issues could be reached with the White House. He replied, “No.”

Another pithy quote from this specimen of bowtie wearing corporate well-paid shill peddling fiscal responsibility and morality while collecting his paycheck from his predatory financial masters.

"OpenSecrets' Capital Eye found evidence that McHenry had been taking money from Countrywide Financial, a company involved in the subprime mortgage crisis.[21] McHenry took $5,500 from Countrywide's PAC, and served in an investigation into CEO payout fraud, of which one of the target companies was Countrywide Financial itself."

And this is the one preaching stricter means testing for the poor and austerity to block raising the debt limit.

Because this isn’t a negotiation. It’s a hostage taking. The full faith and credit of the United States is not up for negotiation so that THE GQP can realize policies they cannot get through the legislative process.

Lincoln, that same one will not answer a question “is it acceptable for a private business to Welch on a debt it has incurred and is able to pay?”

Let's see how Republicans not agreeing to tax increases on the wealthy yet slashing domestic programs and maintaining almost a trillion dollar budget for the Pentagon goes over in November.

quote: impose work requirements on government aid recipients.

Workfare is a bad idea. Forced labour is low quality labour. One function of the welfare system is to keep the unemployable alive whilst keeping them well away from employment. Just as conscripts make bad soldiers, the unemployable will wreck any work you put them to. You wouldn't want to eat any food prepared by forced labour, and you wouldn't want the safety of your transport system to depend on it either. It is worth giving free public money to some folk, to do their own thing, just to keep them from ruining any job they attempt. Good political solutions are practical ones, not ideological ones.

Although these regular budget shenanighans are partly political theatre, partly a flaw in government, they (combined with recent banking collapses) suggest an Achille's heel where America may be unexpectedly vulnerable. If the US is concentrating on Ukraine, BitCoin and TikTok, it may be blindsiding itself to a more serious weakness - the elephantine debt in the room. America's credit card is quite full. Simply extending the credit limit is not really a solution for that. If America was a company, its governments would all have been tossed out by the shareholders for incurring such a debt. I guess the electorate are more forgiving, more gullible or more willing to be bribed by their kids' cash, which is what public spending usually is.

Because this isn’t a negotiation. It’s a hostage taking.

Yup.

The full faith and credit of the United States is not up for negotiation so that THE GQP can realize policies they cannot get through the legislative process.

Now all of a sudden the left cares about National Debt? Yeah, you just can’t make these things up.

Now all of a sudden the left cares about National Debt? Yeah, you just can’t make these things up.

To simplify it into your terms, the "left", Bill Clinton balanced the budget and left a surplus.

The "right", Reagan, Bush 1 and 2, Trump all ballooned the debt.

Now tell me, when has the "right" ever cared about the debt?

You can't make things up.

Now all of a sudden the left cares about National Debt?

ROFL...an UNFUNDED $1.9 TRILLION tax cut for their Top 1% fat cat donors and ADDING $7.8 TRILLION to the national debt in four years from 2016-20...

Hypocrites - they name is Republican...

Yeah, you just can’t make these things up.

Make things up? That would be Fox News...

https://www.yahoo.com/entertainment/turns-york-post-story-vets-022951665.html

—Because this isn’t a negotiation. It’s a hostage taking.

Yup.

There you have it. The MAGA idea of responsible, ethical, democratic, and constructive legislating.

The debt is not negotiable. It must be paid. The GOP is going to own the mess if it isn’t.

Now all of a sudden the left cares about National Debt? Yeah, you just can’t make these things up.

Fiscal conservatives shouldn’t see this in partisan terms.

You and your non-partisan historians agree that Bush 2 was a successful president despite being a RINO, swamp member, Neocon etc and blowing a massive hole in the finances.

—The full faith and credit of the United States is not up for negotiation so that THE GQP can realize policies they cannot get through the legislative process.

Now all of a sudden the left cares about National Debt? 

You mean you can’t refute the point?

These morons have issued a ransom without a hostage.

And our moron is fine with that.

Now all of a sudden the left cares about National Debt? Yeah, you just can’t make these things up.

Here’s another thing that you can’t make up (or lie about): 70% of all outstanding debt was incurred under GQP administrations including 25% under the groper-in-chief.

What these Maga fools and and the rest of the idiot republicans fail to even comprehend is that if the USA economy crashes their whole country crashes too. Millions of jobs will go, thousands of businesses will go, mortgage rates and interest rates will rise, shops will be empty. The 70+ millions of r/w republicans who want this to happen millions will lose every thing. Yet one thing will not change, all their big talking leaders in congress will keep getting their $180,000 a yr. all their fringe benefits etc.....

Or maybe they just don’t care because they are stupid enough to think that they will not be blamed?

Republicans had no problem increasing the debt limit under Trump multiple times. That's all you really need to know.

One wonders if every member of the GQP has decided to be a lemming and follow L. Marge over the cliff?

Republicans had no problem increasing the debt limit under Trump multiple times. That's all you really need to know.

Another capitalist that thinks China and Russia should have a bigger and more advanced military than the U.S., why?

Or maybe they just don’t care because they are stupid enough to think that they will not be blamed?

If the voters were stupid they would have kept Pelosi in power, that didn’t happen so….

https://thehill.com/opinion/finance/563116-democrats-reckless-spending-causing-rampant-inflation-falling-real-wages-and/

Yup, nothing new, nothing, just the usual, typical

https://thehill.com/opinion/finance/563116-democrats-reckless-spending-causing-rampant-inflation-falling-real-wages-and/

Brought to you by Fox News contributor Liz Peek.

https://www.foxnews.com/person/p/liz-peek

Could not be more caricature of the alt-right MAGA-verse view if they tried.

Could not be more caricature of the alt-right MAGA-verse view if they tried.

Ouch!

Read further….

entrenched, and likely to endure.

Former Obama administration economist Larry Summers has been one of the more vocal criticsof Democrats’ spending spree, warning for months that it could spur higher prices. In response to the new data, Summers is adamant, saying recent reports raise “my degree of concern about an economic overheating scenario. There are huge uncertainties in the outlook, but I do believe the focus of concern right now should be on overheating.”

The latest consumer price report, which like the PPI came in substantially higher than expected, shows prices paid for everyday goods rose 0.9 percent month-to-month in June; economists were expecting 0.5 percent. That’s a big miss, showing the so-called experts remain behind the curve, including the Federal Reserve. Year-over-year, prices were up 5.4 percent, the most since 2008. Core inflation, excluding energy and food prices, rose 4.5 percent from June 2020, the biggest jump since November 1991.

Former Obama administration economist Larry Summers has been one of the more vocal criticsof Democrats’ spending spree,

Larry Summers, one of the architects of the 2008 Wall Street bailout of banks, who had no problem breaking the budget to give trillions to Wall Street?

This is your reference for criticism of Democrat spending?

Typical MAGA, doesn't do research or reading too good.

Budget deficits under Republican Presidents have been $4 trillion more than under Democratic Presidents.

Democratic Presidents Manage the Economy Better Than Republicans

http://presidentialdata.org/

Typical MAGA, doesn't do research or reading too good.

They never do.

Their opinions aren't based on critical thought. If Trump isn't going to read anything to find truths, why would they? The economy, as in 2008, always endangers America, if not the world, and this fight by a really dumb McCarthy is possibly forcing a similar world economic crash if the obstinate GOP doesn't quit their wrong take.

If based on critical thought. the MAGA would be looking for informational facts and truths before making an opinion. Instead they just float whatever subjective idea and lies suits them to give a false narrative.

It's why neutrality can be so wrong in the case of listening to a Trump/MAGA and why the town hall was so off putting.

It’s like the maga loons complaining Biden plays golf more than 45. Truth doesn’t matter to them. They just want to believe something it right and put fingers in ears when told realities. Or just say “you can choose to believe that but millions don’t”

Can’t reason with someone like that.

Because this isn’t a negotiation. It’s a hostage taking.

Yup.

you idolize people who see putting the running back in a Kenworth as a legit means of scoring a touchdown. That’s his fault. He normalized this. Don’t forget this quip. You said more than you think you did.

One wonders if Bass’ creditors are aware of its “loose morals” regarding debt obligations?

I sure wouldn’t lend money to someone who thinks it’s ok to Welch on a debt when they are capable of paying.

But then again, look who he idolizes: a man so famous for stiffing people who owe him money that he needs to go to the Russians for funding.

”Who he owes money”

Oops sorry.

doesn’t change the fact that Trump is a credit risk approaching junk and he is Bass’ idol.