US Government Headed to Shutdown

[SpittaJetLife]

ninjahood lets make a bet. Trump is re-elected in 2020 I give you what your Cuban is worth. Trump isn’t re-elected you give me your Cuban.

 

[alchemist iq]

ninjahood lets make a bet. Trump is re-elected in 2020 I give you what your Cuban is worth. Trump isn’t re-elected you give me your Cuban.

Yo fam FOH. I already got this on the table.

 

[boris]

I wanna see the outcome of this bet.

 

[Beruseruku Desu]

Senate Republicans block bill to suspend debt limit and avert shutdown in key vote

Senate Republicans blocked a House-passed bill to suspend the debt limit and avert a government shutdown from advancing in the Senate on Monday.

www.google.com

 

[jking0821]

here we go again

 

[uncalled4boy]

 

[tr1ll]

The US Government has completely lost its way and purpose. Can we just fire ALL these mofos and have an impromptu election right after. Sometimes you gotta make examples out of people. Let other people know it could happen.

 

[gry60]

The US Government has completely lost its way and purpose. Can we just fire ALL these mofos and have an impromptu election right after. Sometimes you gotta make examples out of people. Let other people know it could happen.

I wish we could, but the Constitution won't allow it.

The biggest flaw of that document was the assumption that elected officials would always act in good faith AND for the benefit of all Americans.

Then again, "American" had a different definition back then

 

[blastercombo]

Lock them in the capital and let a riot take place again. Those people are worthless and STILL GET PAID. They’re not afraid of money so give them something real to fear

 

[blastercombo]

The US Government has completely lost its way and purpose. Can we just fire ALL these mofos and have an impromptu election right after. Sometimes you gotta make examples out of people. Let other people know it could happen.

It wasn’t put together with the intentions of people purposefully acting in bad faith. When you have a gun club be a major contributor what do people expect?

 

[Beruseruku Desu]

 

[fluid hips]

This happens like every 1-2 years I've noticed

 

[Stakeholder]

 

[gry60]

This happens like every 1-2 years I've noticed

Happens every time Republicans are not in control of the legislative branch. During Trump's term, Democrats agreed to raise the debt ceiling three times even though it would make Trump look good because they understand that it's not just politics.

On the other hand, Republicans are all in on the idea of burning it all down to make the opposition look bad and governing over the ashes.

 

[solewoman]

Who are we in debt to?

 

[noskey]

Happens every time Republicans are not in control of the legislative branch. During Trump's term, Democrats agreed to raise the debt ceiling three times even though it would make Trump look good because they understand that it's not just politics.

On the other hand, Republicans are all in on the idea of burning it all down to make the opposition look bad and governing over the ashes.

On the flipside of that, the govt did shut down when Trump had a supermajority cause they couldn't pass any spending bills Longest shutdown in US history.

 

[gry60]

Who are we in debt to?

National Debt: Definition, Impact, and Key Drivers

The national debt is the total that a country owes to its creditors. This includes debt held by the public and intragovernmental debt in the United States.

www.investopedia.com

Forms of Government Borrowing
Government borrowing, which adds to the national debt shortfall, can take other forms. Governments can issue financial securities or borrow from international organizations such as the World Bank or private financial institutions. Since it is borrowing at a governmental or national level, it is termed national debt. To keep things interesting, other terms for this obligation include government debt, federal debt, and public debt.


The total amount of money that can be borrowed by the government without further authorization by Congress is known as the "total public debt subject to limit," typically shortened to the "debt limit." Any amount to be borrowed above this level has to receive additional approval from the legislative branch.


The public debt is calculated daily. After receiving end-of-day reports from about 50 different sources, such as Federal Reserve Bank branches, regarding the number of securities sold and redeemed that day, the U.S. Treasury calculates the total public debt outstanding, which is released the following morning.6 It represents the total marketable and non-marketable principal amount of securities outstanding (i.e., not including interest).


The national debt can only be reduced through five mechanisms: increased taxation, reduced spending, debt restructuring, monetization of the debt, or outright default. The federal budget process directly deals with taxation and spending levels and can create recommendations for restructuring or possible default.

Democrats Delay Infrastructure Vote as Divisions Persist

Congress is also facing the challenge of raising or suspending the nation's debt ceiling in time to avert the first federal default in U.S. history.

www.barrons.com

The government’s budget was set to expire at midnight Thursday. The stopgap funding bill, which would sustain the government’s current spending levels through Dec. 3, passed the Senate filibuster in a 65-35 vote on Thursday. The House passed the bill in a 254-175.

Funding the government is one of many deadlines lawmakers face this week.
Treasury Secretary Janet Yellen told Congress earlier this week that the U.S. would default on its loans unless lawmakers suspended or raised the country’s borrowing limit by Oct. 18. In a report issued Wednesday, the non-partisan Congressional Budget Office estimated the Treasury would run out of money by late October or early November.

“It’s necessary to avert a catastrophic event for our economy,” Yellen reiterated at a House committee hearing Thursday.


The House voted 219-212 on Wednesday to suspend the nation’s debt limit until Dec. 16, 2022, with support from all but two Democrats. The measure will likely be killed in the 50-50 split Senate.
Republican leadership won’t raise the debt ceiling so long as Democrats pursue passage of a $3.5 trillion social spending bill, the second part of a sweeping economic package that Biden wants to define his presidency. McConnell has said Democrats should raise the debt ceiling by including it in the reconciliation package, a process that allows Democrats to pass legislation with a simple majority. Democrats plan to pass the social spending bill this way.

 

[itshlittt]

making way for crypto.

lfg.

 

[mplsdunk]

1,200 a few times should fix it.