Will Republicans be able to raise the debt ceiling this year?

Discussion in 'Business & Economics' started by joepistole, Jul 17, 2017.

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Will Republicans raise the debt ceiling this year?

  1. Yes

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  2. No

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  3. Maybe

    2 vote(s)
    100.0%
  1. joepistole Deacon Blues Valued Senior Member

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    According to the Treasury the Congress will need to raise the debt ceiling in September else the nation will for the first time in its history default on its debt. Given the inability of this Congress to pass even their signature piece of legislation, one must question their ability to do so. The congressman who led the last attempt to run the nation into default is now in charge of the budget. We are getting mixed messages from both Congress and the administration on the debt ceiling. Some want to attach poison pills to it as they did a few years ago and a few want a clean debt ceiling bill.

    If the Freedom Caucus wants to resist, and it appears they do, Republicans will need the assistance of Democrats to increase the debt ceiling. Will Democrats go along or will they make demands of their own? Trump's weak leadership will be tested. Does Trump have the ability to pull this off? The irony is Trump has marketed himself as the "great deal maker". Trump has yet to demonstrate his deal making abilities, but then again, maybe he has.

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    We may be in for another roller coaster ride. Will Republicans raise the debt ceiling or will they cause the nation to default on its debt?
     
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  3. origin Trump is the best argument against a democracy. Valued Senior Member

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    Sure they can, because most democrates will vote to raise it. It is only the crazier republicans that think it is ok to default on loans that will vote against it.
     
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  5. joepistole Deacon Blues Valued Senior Member

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    One hopes that to be the case, but in order to get Democratic support they would need a clean debt ceiling bill and Republicans are split on the issue. One of the congressional leaders who led the 2 previous attempts to cause a debt default is now serving in the White House as Director of Management and Budget. The Freedom Caucus, the right-wing fiscal hawks, don't want a clean debt ceiling bill and Trump is on both sides of the fence. If this was easy for them they would have done it before now.

    The chaos within the Republican Party could render Republicans unable to pass a clean debt ceiling bill. Republican ineptitude could result in a debt default. Republicans want want to do this on their own. They don't want Democratic assistance. McConnell, Republican senate leader, has recently threatened Senate Republicans with bipartisanship. There was a time when bipartisanship wasn't a bad word in Republican circles, but that time was before the rise of right-wing echo chambers like Fox News.

    And then there is Trumpcare or Republicancare; if it passes Democrats might not be so amenable to increasing the debt ceiling. If it passes Democrats might insist on a few conditions of their own. If it doesn't pass Republicans need to come up with some money to fund their tax cuts. Republicans have counted on the trillion dollars gutting Obamacare would give give them and allow them to fund their tax cuts for America's wealthiest residents.

    http://money.cnn.com/2017/05/02/news/economy/trump-shutdown-debt-ceiling/index.html
     
    Last edited: Jul 25, 2017
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