It appears that House Speaker Kevin McCarthy and President Joe Biden, according to this pundit and many others, have made a deal that shows their parties’ weaknesses and a deal that will do the US no good. Republican Representative Chip Roy of Texas has called the deal a “TURD Sandwich!” This absurd arrangement has a good chance of not passing, with a disastrous default looming on June 5th.
The Freedom Caucus, which has about 50 Republican members of the House, already opposes the 99-page arrangement, and several Democrat members of the Progressive Caucus also oppose the potential bill. Apparently, the hardliners are terribly concerned that the situation requires more spending cuts than just “two years of caps on non-defense, discretionary spending in exchange for taking the debt ceiling off the negotiating table for two years.” On the other hand, liberal House Democrats feel that Biden has given too much away to the Republicans.
Folks, this deal may not pass if McCarthy puts this up for a vote on Thursday in the House, especially if the entire Democrat members do not support it. If it does pass the House, it faces another bunch of challenges in the Senate. Furthermore, it could put McCarthy’s speakership in jeopardy, according to Chip Roy’s stated prior agreements in the election of McCarthy as Speaker.
What happens if the US defaults? For people and organizations expecting payments from the federal government on or after June 5, a delay could affect their ability to pay their own bills. That could squeeze the economy and create uncertainty for Americans, such as Medicaid recipients, IRS funding, and military spending. The full impact would depend on the duration of the delay. Some say it could even affect Social Security payments. It could put America into a major depression.
Folks, Biden’s overspending has created America’s disastrous inflation and put our nation’s economy at risk. Frankly, the agreement between Biden and McCarthy is not enough and is nothing more than a pathetic Band-Aid. Indeed, we are between “the rock and the hard place,” as my father used to say.
God only knows what is going to happen, and the Debt Ceiling problem is another major Biden example of incompetence, seemingly boosted by McCarthy’s willingness to compromise way too much.
What do you think? As always, your comments are welcome and appreciated.
JUDSON Bennett-Coastal Network