Sunday, June 04, 2023

GOP blows it on the debt ceiling deal

FOXBusiness this morning on the debt deal:

*Increases spending for Defense and veterans' benefits

*Work requirements for SNAP & TANF, exempts MEDICAID

*Able-bodied SNAP recipients must work (Caps at 54 Y.O.)

*Claws back 29B in unspent COVID-19 funds

*Repeals $1.9B for IRS THIS YEAR (Does not mean it can't be added back for follow-on years)

*Student loan repayment to begin in 60 days

*Streamlines energy and infrastructure projects (which could mean absolutely anything)

*No new taxes (not the same thing as saying "no new taxes AND no tax increases")

I get the anger on both sides. Leftists want to print as much money as fast as possible, because they refuse to acknowledge their part in the horrific, crippling inflation that resulted from Biden and the left's boiling desire to bankrupt us.

On the right, as I feared, McCarthy has caved on a deal that has the singular design to make him look good, but which accomplishes nothing substantive on debt reduction or decreasing the deficit. Under this deal, once again, the GOP will be complicit in adding hundreds of billions to the National Debt, which already equates to $250,000 per taxpayer.

In short, as I feared, this was a great deal of kabuki theater that would have no meaningful outcome, and like the horrific failure to act on the fentanyl issue in Olympia in the past special session that will directly result in more dead stacking up like cordwood in this state, BOTH parties are complicit.

Despicable.

Because...

IF we don't act to get spending under control NOW... then when?

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