Trump says debt ceiling will never be a problem because Him,Nancy and Chuck
- Thread starter Tony Stark
- Start date
https://www.realclearpolitics.com/v...nservative_reforms_and_we_didnt_get_that.html
Meadows: We Wanted A Debt Ceiling Bill With Conservative Reforms And We Didn't Get That
Posted By Ian Schwartz
On Date September 7, 2017
House Freedom Caucus Chairman Rep. Mark Meadows (R-NC) comments on President Trump's debt ceiling deal with Democrats on Wednesday in an interview with Neil Cavuto on the FOX Business Network.
REP. MEADOWS: We want to see a longer term debt ceiling bill that has real conservative structural reforms and obviously we didn’t see that yesterday. I mean the emergency relief, I believe that should have been a standalone, but that’s a tactical question.
But really when we look at the debt ceiling, we got to get our spending really under control, Neil. You know it, I know it, the American people know it. So if we’re going to do that, we’ve got to address this debt ceiling vote with some type of structural reform and so in that, I just left a meeting where we’re talking with our leadership on how we do that to make sure that Chuck Schumer (D-NY) doesn’t have the power.
Meadows: We Wanted A Debt Ceiling Bill With Conservative Reforms And We Didn't Get That
Posted By Ian Schwartz
On Date September 7, 2017
House Freedom Caucus Chairman Rep. Mark Meadows (R-NC) comments on President Trump's debt ceiling deal with Democrats on Wednesday in an interview with Neil Cavuto on the FOX Business Network.
REP. MEADOWS: We want to see a longer term debt ceiling bill that has real conservative structural reforms and obviously we didn’t see that yesterday. I mean the emergency relief, I believe that should have been a standalone, but that’s a tactical question.
But really when we look at the debt ceiling, we got to get our spending really under control, Neil. You know it, I know it, the American people know it. So if we’re going to do that, we’ve got to address this debt ceiling vote with some type of structural reform and so in that, I just left a meeting where we’re talking with our leadership on how we do that to make sure that Chuck Schumer (D-NY) doesn’t have the power.
http://www.businessinsider.com/trump-debt-ceiling-schumer-pelosi-deal-2017-9
Trump has a 'gentleman's agreement' with Chuck Schumer to get rid of the debt ceiling permanently
President Donald Trump on Thursday suggested he is open to getting rid of the nation's debt ceiling altogether.
"It could be discussed," Trump told reporters Thursday. "There are a lot of good reasons to do that."
A day after Trump agreed with Democrat to suspend the debt ceiling for three months, a shorter time period than Republican leaders wanted, reports said Trump also told Democratic leaders Chuck Schumer and Nancy Pelosi that he was willing to work with them on legislation to eliminate the ceiling permanently.
According to Damian Paletta and Ashley Parker at The Washington Post, one person familiar with the meeting called said Schumer and Trump have a "gentleman's agreement" to work on a deal to get rid of the debt ceiling.
"The President encouraged Congressional leaders to find a more permanent solution to the debt ceiling so the vote is not so frequently politicized," White House press secretary Sarah Huckabee Sanders told Business Insider.
Schumer initially brought up the idea in the meeting on Wednesday, Politico reported. Trump replied, "Let's do it."
The idea drew immediate pushback from Republican leaders, who view the debt ceiling as an important tool to extract spending cuts and fight for fiscal reforms.
"There’s a legitimate rule for the power of the purse in Article 1 powers, and that's something we defend here in Congress," House Speaker Paul Ryan said Thursday.
The debt ceiling has been a source of frequent stress for investors and economists, since a breach of the debt ceiling could lead the federal government to default on some of its debt. A default would likely lead to a global economic crisis and a meltdown in markets.
Trump has a 'gentleman's agreement' with Chuck Schumer to get rid of the debt ceiling permanently
President Donald Trump on Thursday suggested he is open to getting rid of the nation's debt ceiling altogether.
"It could be discussed," Trump told reporters Thursday. "There are a lot of good reasons to do that."
A day after Trump agreed with Democrat to suspend the debt ceiling for three months, a shorter time period than Republican leaders wanted, reports said Trump also told Democratic leaders Chuck Schumer and Nancy Pelosi that he was willing to work with them on legislation to eliminate the ceiling permanently.
According to Damian Paletta and Ashley Parker at The Washington Post, one person familiar with the meeting called said Schumer and Trump have a "gentleman's agreement" to work on a deal to get rid of the debt ceiling.
"The President encouraged Congressional leaders to find a more permanent solution to the debt ceiling so the vote is not so frequently politicized," White House press secretary Sarah Huckabee Sanders told Business Insider.
Schumer initially brought up the idea in the meeting on Wednesday, Politico reported. Trump replied, "Let's do it."
The idea drew immediate pushback from Republican leaders, who view the debt ceiling as an important tool to extract spending cuts and fight for fiscal reforms.
"There’s a legitimate rule for the power of the purse in Article 1 powers, and that's something we defend here in Congress," House Speaker Paul Ryan said Thursday.
The debt ceiling has been a source of frequent stress for investors and economists, since a breach of the debt ceiling could lead the federal government to default on some of its debt. A default would likely lead to a global economic crisis and a meltdown in markets.
What's your take on this Tony? Are you for or against getting rid of the debt ceiling?
For.The US needs to pay the bills they agreed to and maintain its credit.I also think its unconstitutional violating the 14th Amendment.The SC has also ruled that Congress may not “alter or destroy” debts already incurred.
I suppose I'm with you on this. I mean, the fact is we raise it every time we hit it, so there isn't really much of a point of having a ceiling. Seems like it's something republicans and democrats argue about all the time, then they just raise it anyway.
Also, if you guys look up Randall Wray, one of Hyman Minsky's students, you can read Wray's books and papers and will be heartened to know that although no county can spend willy nilly without limit, a sovereign country's finances are very different from individual finances. I think Minsky, Keynes, Wray, and many, many others are correct. The others are wrong.
There is no such thing as 20 trillion dollars, so who cares. 20 trillion, 120 trillion, what, someone gonna' write a check at some point. Just another never ending issue to yak about while nothing gets fixed.
Trump is playing the dems. I hope chuck and pelosi aren't so stupid.
Trumps MO is well understood. He is using the dems to make the republicans jealous so they play nice with him.