90 Miles From Tyranny : A full breakdown of Biden and McCarthy's deal to raise the debt limit to $35 trillion: What the House speaker gave up in the final package conservatives are calling 'insanity' and a 'turd sandwich'

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Wednesday, May 31, 2023

A full breakdown of Biden and McCarthy's deal to raise the debt limit to $35 trillion: What the House speaker gave up in the final package conservatives are calling 'insanity' and a 'turd sandwich'

  • McCarthy unveiled the 99-page bill raising the debt ceiling to avoid defaulting on Sunday
  • Some Republicans aren't pleased with details of the bill, claiming it's like writing a 'blank check' to Democrats
  • DailyMail.com breaks down what made it into the deal and what didn't
House Speaker Kevin McCarthy is facing criticism from members of his own political party on a debt ceiling deal he struck over the weekend with President Biden that hard line conservatives say doesn't go far enough to curb federal spending.

The 99-page bill released Sunday would raise the debt ceiling by $4 trillion to a total of $35 trillion and suspend the nation's debt limit through 2025 to avoid a federal default.

Republicans, who only wanted to raise the limit by $1.5 trillion, are calling the deal a 'blank check' to Democrats because it does not fully rescind all $80 billion in IRS funding or the 87,000 new agents, fails to cap federal spending for 10 years and does not reclaim all $50 billion in unspent COVID funds.

Progressives are opposed to some of the proposed changes to work requirements in social programs including food stamps.

Now both the Democratic president and Republican speaker are trying to win over skeptical lawmakers in order to stave off default by June 5, the 'x-date' when Treasury Secretary Janet Yellen said the U.S. could default on its debt obligations.

'Conservatives have been sold out once again!' lamented Kentucky Sen. Rand Paul and Republican Rep. Chip Roy from Texas called the agreement a 'turd-sandwich.'

DailyMail.com breaks down what made it in and what got cut from the debt ceiling deal and how lawmakers are reacting now that the full text is available.


The cornerstone of the deal includes a two-year suspension of the debt limit until January 2025 after the next presidential election.

Republicans are taking issue with the $4 trillion ceiling increase, saying there could be virtually unlimited spending for the last two years of Biden's first term.

The GOP had backed a deal in which the debt ceiling was only raised by $1.5 trillion - which was not agreed to.

The agreement also limits spending by keeping all non-defense appropriations roughly flat in Fiscal Year 2024 and increasing it by only one percent the following year - a point that conservatives are taking issue with since they urged a freeze on all federal spending for 10 years.

Congress is also required under the new bill to approve 12 annual spending bills or face a snapback to spending limits from the previous year.

The White House predicts the plan would reduce government spending by $1 trillion, but Republicans are calling them 'fake' spending cuts.

'Fake conservatives agree to fake spending cuts,' Sen. Paul tweeted. 'Deal will increase mandatory spending ~5%, increase military spending ~3%, and maintain current non-military discretionary spending at post-COVID levels.'

'No real cuts to see here.'

Rep. Norman of South Carolina called the deal 'insanity' said he won't 'vote to bankrupt...

Read More HERE


Anonymous said...

McCarthy was installed as Speaker simply to maintain the status quo. Once you understand that, things make more sense.

oldvet1950 said...

The 'deal' isn't a done deal until the House votes and approves it. The only thing that was revealed is how much a swamp tool McCarthy really is.

Anonymous said...

There's no sense in expecting anything different from a World Economic Forum member. This is why they kept voting the upteen number of times for the speaker of the house instead of voting for someone else

tsquared said...

We need to go back to tar and feathers