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BumRushDaShow

(149,965 posts)
Thu Jan 16, 2025, 03:45 PM Jan 16

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

32 replies = new reply since forum marked as read
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House GOP's Budget Hawks Now Want A $4 Trillion Debt Limit Hike (Original Post) BumRushDaShow Jan 16 OP
flip-floppery is a republicon speciality BoRaGard Jan 16 #1
So. They want to have their cake and eat it too. Good luck with that. nt CaliforniaPeggy Jan 16 #2
How soon will you and I have to begin paying that off? Or do we leave it for the grand kids? mpcamb Jan 18 #29
It's like clockwork with these people. Scrivener7 Jan 16 #3
Yep, they fuck things up so bad that Democrats can't fix them in 4 short years..... groundloop Jan 16 #7
The "Two Santa Claus" problem... keep_left Jan 16 #11
Of course they do. They know they can't cut enough of the budget and keep Trump's stupid tax cuts without borrowing mon. Ray Bruns Jan 16 #4
Why in the hell they just simply do away w/ the debt limit? All this limit is, is something that both political parties SWBTATTReg Jan 16 #5
Democrats are the only ones who have ever left a surplus for the next administration: Bill Clinton BComplex Jan 17 #23
The simple answer neohippie Jan 16 #6
I don't care what the statement reads Pototan Jan 16 #8
And that is what Jefferies has said....that it won't pass without dem help. I believe him PortTack Jan 16 #15
the Party Of Fiscal Responsibility RainCaster Jan 16 #9
Rescind tax cuts for over 1million yankee87 Jan 16 #10
Oh wow! Im bowled over by all slightlv Jan 16 #12
No Nasruddin Jan 16 #13
No no. No no n no do not spend our money!!!!!! Trueblue1968 Jan 16 #16
Increasing the deficit, raising the bond yield, increasing mortgage rates. erodriguez Jan 16 #14
Who benefits and how. Irish_Dem Jan 17 #19
of course Quanto Magnus Jan 17 #17
There They Go Again DallasNE Jan 17 #18
Of course they do. A republican is about to become president so deficits don't matter anymore. Ray Bruns Jan 17 #20
At the same time they are demanding - TAX CUTS! Grins Jan 17 #21
So they will just give citizen's money to the wealthy regardless of how far in debt the country needs to go to do so. Martin68 Jan 17 #22
And the MAGA Morons won't know the difference. travelingthrulife Jan 17 #24
For the billionaire tax cuts Yo_Mama_Been_Loggin Jan 18 #25
Question. If they insist on "dollar for dollar" spending cuts, why do they need to increase the debt ceiling? Midnight Writer Jan 18 #26
This message was self-deleted by its author Wifes husband Jan 18 #27
This message was self-deleted by its author Wifes husband Jan 18 #28
Fiscal conservativism, what a joke C_U_L8R Jan 18 #30
An instant $4 trillion debt hike with mythical spending cuts is fiscal conservatism? keithbvadu2 Jan 18 #31
Right on fucking cue Blue_Tires Jan 19 #32

mpcamb

(3,045 posts)
29. How soon will you and I have to begin paying that off? Or do we leave it for the grand kids?
Sat Jan 18, 2025, 08:20 PM
Jan 18

groundloop

(12,725 posts)
7. Yep, they fuck things up so bad that Democrats can't fix them in 4 short years.....
Thu Jan 16, 2025, 05:14 PM
Jan 16

Then blame Democrats for all the problems they caused.

keep_left

(2,812 posts)
11. The "Two Santa Claus" problem...
Thu Jan 16, 2025, 09:13 PM
Jan 16

...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)
4. Of course they do. They know they can't cut enough of the budget and keep Trump's stupid tax cuts without borrowing mon.
Thu Jan 16, 2025, 04:13 PM
Jan 16

Money.

SWBTATTReg

(25,067 posts)
5. Why in the hell they just simply do away w/ the debt limit? All this limit is, is something that both political parties
Thu Jan 16, 2025, 04:47 PM
Jan 16

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)
23. Democrats are the only ones who have ever left a surplus for the next administration: Bill Clinton
Fri Jan 17, 2025, 04:44 PM
Jan 17

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)
6. The simple answer
Thu Jan 16, 2025, 05:01 PM
Jan 16

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)
8. I don't care what the statement reads
Thu Jan 16, 2025, 06:56 PM
Jan 16

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)
15. And that is what Jefferies has said....that it won't pass without dem help. I believe him
Thu Jan 16, 2025, 10:14 PM
Jan 16

RainCaster

(12,485 posts)
9. the Party Of Fiscal Responsibility
Thu Jan 16, 2025, 07:13 PM
Jan 16

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.

slightlv

(5,238 posts)
12. Oh wow! Im bowled over by all
Thu Jan 16, 2025, 09:17 PM
Jan 16

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.

DallasNE

(7,736 posts)
18. There They Go Again
Fri Jan 17, 2025, 02:41 AM
Jan 17

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)
20. Of course they do. A republican is about to become president so deficits don't matter anymore.
Fri Jan 17, 2025, 08:43 AM
Jan 17

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)
21. At the same time they are demanding - TAX CUTS!
Fri Jan 17, 2025, 11:16 AM
Jan 17

Because to Republicans - Tax cuts are "Magic Beans™!"

Martin68

(25,269 posts)
22. So they will just give citizen's money to the wealthy regardless of how far in debt the country needs to go to do so.
Fri Jan 17, 2025, 02:41 PM
Jan 17

After all their BS about fiscal responsibility. Every time a Republican becomes president we go farther in debt.These people are traitorous criminals.

Midnight Writer

(23,611 posts)
26. Question. If they insist on "dollar for dollar" spending cuts, why do they need to increase the debt ceiling?
Sat Jan 18, 2025, 07:52 PM
Jan 18

Response to BumRushDaShow (Original post)

Response to Wifes husband (Reply #27)

C_U_L8R

(46,882 posts)
30. Fiscal conservativism, what a joke
Sat Jan 18, 2025, 08:52 PM
Jan 18

These clowns only know how to run up the bills, stuff their pockets, and bankrupt things.

keithbvadu2

(40,915 posts)
31. An instant $4 trillion debt hike with mythical spending cuts is fiscal conservatism?
Sat Jan 18, 2025, 10:31 PM
Jan 18

Yeah! Right!

 

Blue_Tires

(57,596 posts)
32. Right on fucking cue
Sun Jan 19, 2025, 04:25 AM
Jan 19

Now that Trumpers are back in power, all of a sudden nobody gives a shit about the budget or deficits anymore 😒

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