The recurring obligation to raise the federal debt ceiling was scheduled to coincide with the end of the current fiscal year on September 30 to give GOP hostage takers some leverage with passing next year’s budget.
It does not appear remotely possible that a budget will be ready by the end of this fiscal year, so once again Congress will wind up approving another short-term continuing resolution (CR) when it returns from its August recess.
GOP leaders also may have lost any leverage they hoped to gain from holding the federal debt ceiling hostage for their budget. Congress may have to act before the August recess. The Washington Post reports, Trump administration warns tax receipts are coming in slowly, government could run out of cash sooner than expected:
White House Office of Management and Budget Director Mick Mulvaney on Wednesday said that tax receipts were coming in “slower than expected” and that the federal government could run out of cash sooner than it had thought.
Mulvaney’s comments, which came during a House Budget Committee hearing, resurrected an issue that Congress has mostly ignored in recent months but that will soon force some tough political decisions.
A few hours later, Treasury Secretary Steven Mnuchin echoed these concerns, telling another House committee, “I urge you raise the debt limit before you leave for the summer.”
“We can all discuss how we cut spending and how we deal with the budget going forward, but it is absolutely critical that where we’ve spent money, that we keep the credit of the United States as the most critical issue,” Mnuchin told the House Ways and Means Committee. “It is the reserve currency of the world.”
Posted in AZBlueMeanie, Budgets, Congress, Constitution, Corruption, Economics, GOP War On..., Legislation, Party Politics, President, Scandals, Taxes
Tagged Default, federal debt ceiling, government shutdown
Some good opinion pieces at the New York Times today on the Tea-Publican efforts to sabotage “Obamacare” and replace it with their own dystopian vision of “Trumpcare.”
David Leonhardt writes, C.B.O. Report Reveals Trumpcare’s Fatal Flaws:
The Congressional Budget Office’s analysis of the House health care bill is a devastating indictment.
The new report shows that millions of Americans would lose health insurance and the quality of insurance for millions more would deteriorate. The savings from that carnage — to borrow a favorite word of President Trump’s — would pay for tax cuts for the wealthy.
And yet the immediate reaction to the C.B.O. report also shows why you should be worried that the Senate will nonetheless decide to pass a version of the House bill.
* * *
Distraction is a tactic of the politicians who are trying to take away health insurance from people. These politicians can’t sell their proposals on the merits. That’s why both the House and, thus far, the Senate have refused to hold any hearings. They know that virtually every expert across the ideological spectrum — including groups representing doctors, nurses, hospitals, patients and senior citizens — opposes the bill.
Unable to win a debate on its merits, Republican leaders need to change the subject. They can’t let their proposals be judged on whether they improve the American health care system, because they don’t. They need to create a lower standard by which the plan will be judged.
Posted in AZBlueMeanie, Budgets, Congress, Corruption, Courts, Economics, Ethics, GOP War On..., Healthcare, Legislation, Media, Party Politics, President, Scandals, Taxes
Tagged health insurance, Obamacare