Debt Ceiling
The House passed a Budget deal on October 28, 2015 that, among other things, will extends the government’s borrowing authority through mid-March 2017. In 2013, the Republican-controlled House and the Democrat-controlled Senate negotiated with the White House on three fiscal matters with looming deadlines: raising the debt ceiling now approaching the limit $16.5T, massive federal spending cuts known as sequester and a budget resolution. On February 4th, the President signed a bill into law extending the debt limit debate until 5/18/13. This date may also get extended as far as August due to financial manipulations similar to those used in 2011. The "No Budget, No Pay Act of 2013" also mandates that pay for lawmakers be held in escrow starting April 16 until their chamber has passed a 2014 budget resolution. Congress must pass a spending bill, called a continuing resolution or “CR,” which would continue spending after Sept. 30, 2013, the end of the 2013 fiscal year. As it stands now, the government’s legal authority to borrow more money runs out in mid-October, 2013. According to the Bipartisan Policy Center, if that date arrived on October 18, the Treasury “would be about $106 billion short of paying all bills owed between October 18 and November 15. The congressionally mandated limit on federal borrowing is currently set at $16.7 trillion. The debt limit has been raised 13 times since 2001 and has grown from about 55 percent of Gross Domestic Product in 2001 to 102 percent of GDP last year. The hoped for legislation will raise the debt ceiling through Dec. 31, 2014.

Comparison of provisions in the Build Back Better $3.5T budget. Is this the last grain of sand?

from The Gray Area:
Does the country need $3.5T worth of non-essential spending right now? Is this the last grain of sand? The 'Build Back Better' legislation has yet to be finalized, and each side is spinning the provisions of the bill to their advantage. Here's what we know could be in the package from the Democrat & left leaning media perspective:
  • Establishing universal Pre-K
  • Expanding the child tax credit
  • Making child care more affordable
  • Creating paid family and medical leave program
  • Boosting child nutrition programs
  • Expanding Medicare benefits
  • Extending beefed-up Affordable Care Act subsidies
  • Creating a federal Medicaid expansion program
  • Allowing Medicare to negotiate drug prices
  • Investing in home health care
  • Bolstering health equity
  • Combating climate change
  • Investing more in infrastructure and jobs
  • Dealing with the state and local tax deduction
  • Hiking taxes on the rich and corporations
  • Free community college is out
  • Democrats quietly scramble to include immigration provision in social spending bill .
The following are just 10 of the ridiculous things buried in the bill, from the Republican and right leaning media perspective: 1) $25 Million for “Anti-discrimination and Bias Training” at HHS 2) $200 Million for Presidio Trust, aka “Pelosi’s Park” 3) Welfare for Journalists 4) $1.25 Billion for Activists, Bureaucrats to Go After Landlords 5) $4.5 Billion for Federal Housing Plan Takeover 6) $26.5 Billion for Left-Wing Transportation Programs 7) Extra Funding for Bureaucrats, Ad Campaigns 8) $197 Million to Subsidize Hiring Local Teachers 9) $7.5 Billion “Community” Slush Fund 10) 2 Decades of Funding for Obscure Tech Accounts, plus: 11) In addition, the bill would sink Real Estate. It would be a catastrophe for homeowners, casual investors, professional investors and home prices. Does the country need $3.5T worth of non-essential spending right now? After two rounds of Trillion dollar spending for COVID, some $2T. When we need more people working. When we need to power our economic engine. Why would we want to retard either. Answer is, NO, we don’t. This is political, period. It values no one in the country other than the political class, their financial base and the globalists around the world. This will be the last grain of sand! More From CNN:

More From The Washington Post:

Democrats quietly scramble to include immigration provision in social spending bill

More From Heritage Foundation: More From The Wall Street Journal: More From The Gray Area: More From The Gray Area:  

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