House GOP's Budget Hawks Now Want A $4 Trillion Debt Limit Hike
Source: Huff Post
Jan 16, 2025, 11:41 AM EST
The House Freedom Caucus, a group of hard-right conservative and libertarian Republicans, wants a $4 trillion hike in the nation’s debt limit as part of the GOP’s big but still-developing tax and spending cut plans.
A hike in the debt limit would allow the government to continue borrowing to repay past debts and keep it from defaulting on the current $36 trillion-plus in outstanding debt. A default by the U.S. on its debt would trigger catastrophic economic consequences, economists say.
In a social media post early Thursday, the Freedom Caucus proposed the $4 trillion hike as part of a package of spending increases for increased border security and boosting the Pentagon’s budget. They said the boost would allow borrowing for another two years. The group, which has long been a thorn in the side of House GOP leaders with its demands for more hard-line policies, said the hike would have to be accompanied by “dollar-for-dollar” spending cuts over 10 years.
“Our proposal is a Republican plan that can reach 218 votes, that would allow us to keep the ball on the Republican side of the field for defense and non-defense appropriations ― while delivering wins and uniting the conference,” the group said in its post.
Read more: https://www.huffpost.com/entry/house-gop-hardliners-want-4-trillion-debt-limit-hike_n_67891ba7e4b0ebaad44f0d20

BoRaGard
(4,716 posts)
CaliforniaPeggy
(153,341 posts)mpcamb
(3,045 posts)Scrivener7
(54,989 posts)groundloop
(12,725 posts)Then blame Democrats for all the problems they caused.
keep_left
(2,812 posts)...as popularized by Thom Hartmann. ( Actually, Hartmann calls the dilemma "shooting Santa Claus" ). Chomsky refers to it as an intentional "fiscal trainwreck".
https://en.wikipedia.org/wiki/Jude_Wanniski#The_Two_Santa_Claus_Theory
Ray Bruns
(5,097 posts)Money.
SWBTATTReg
(25,067 posts)use to stick into each other's faces when the debt limit is reaching its limit.
I'd say let the markets decide when the debt limit has been reached, and react accordingly, as the money markets usually do, when a company or such defaults on their obligations.
But Nooooo, they won't do this, they want to volleyball this issue back and forth. It's getting a little tiresome and old.
BComplex
(9,337 posts)Republicans always binge on a credit card, make the economy falsely appear like everyone's doing great, and then wait for the dems to clean up after them. The media has always ALWAYS credited them with the party they create, and never with the hole the republicans dig the country into.
neohippie
(1,221 posts)Extending Trumps tax cuts for the most wealthy costs the same amount $4 Trillion why didn't they notice that simple solution
Don't extend the tax cuts and you would have the money without expanding the debt
Pototan
(2,502 posts)they can't get every Repuke vote for $4T.
And the Dems won't give them that much, especially once the cuts are incorporated.
PortTack
(35,451 posts)RainCaster
(12,485 posts)How else will they pay for those tax breaks the rich need so desperately? Push that debt off to another generation of MAGA spawn who will have to pay for it.
yankee87
(2,499 posts)Go and rescind the tax cuts of the last ten tax cuts
slightlv
(5,238 posts)This fiscal responsibility! /snark
4 trillion dollars for 19th and 20th century theories on border security, and money for all the wars they're planning. Hope the magas are happy, because it will be at the expense of Ss and Medicare... which is not part of the debt... and spending on food vouchers for the least among us.
How so utterly Christian of them. They do so have the moral high ground, eh? /snark.
Nasruddin
(987 posts)Time for Republicans to learn about tit-for-tat prisoner's dilemma
Trueblue1968
(18,433 posts)erodriguez
(855 posts)Irish_Dem
(67,145 posts)Quanto Magnus
(1,103 posts)It's their guy...........
DallasNE
(7,736 posts)Setting a target amount without first putting together the proposed spending budget would be a mistake. I think the actual number based on a proposed budget would need to be larger—perhaps $5.5T. It would take 60 votes in the Senate, but I think the better option would be to cancel the Wilson-era law that established the debt limit in the first place. That may force Congress to use the Committees to write the Appropriation measures to fund the government and how to pay for it.
Ray Bruns
(5,097 posts)Even stinky knows he can’t cut enough out of the budget and keep his tax cuts without borrowing money to pay for it.
Grins
(8,174 posts)Because to Republicans - Tax cuts are "Magic Beans™!"
Martin68
(25,269 posts)After all their BS about fiscal responsibility. Every time a Republican becomes president we go farther in debt.These people are traitorous criminals.
travelingthrulife
(1,945 posts)Yo_Mama_Been_Loggin
(120,902 posts)
Midnight Writer
(23,611 posts)Response to BumRushDaShow (Original post)
Wifes husband This message was self-deleted by its author.
Response to Wifes husband (Reply #27)
Wifes husband This message was self-deleted by its author.
C_U_L8R
(46,882 posts)These clowns only know how to run up the bills, stuff their pockets, and bankrupt things.
keithbvadu2
(40,915 posts)Yeah! Right!
Blue_Tires
(57,596 posts)Now that Trumpers are back in power, all of a sudden nobody gives a shit about the budget or deficits anymore 😒