thegreatdivide wrote on Dec 20
th, 2024 at 9:45am:
Bobby. wrote on Dec 20
th, 2024 at 9:36am:
No crash in the US, then....
Meanwhile Trump wants to increase the debt ceiling while Musk wants to slash government spending (see the latest MMT post #1037).
Who is more.... likeable?
I don't understand it.
It looks like they are delaying the inevitable.
thegreatdivide wrote on Dec 20
th, 2024 at 8:54am:
The conflict between Trump, who wants to increase the debt ceiling (and wants Biden to do it now....), compared with Musk who wants to slash government spending despite hurting the people who rely on it (....what does this say about the morality of th world's richest man?)
Raw Story)
Trump lashes out at 'nasty trap' laid by Democrats in lengthy screed
President-elect Donald Trump took to his Truth Social platform on Wednesday to complain about the state of the omnibus spending deal — and demand that no deal pass without raising the debt ceiling for next year.
The debt ceiling, which can force the United States to default on payment obligations it already made, was extended to 2025 after a month of furious negotiation last year by then-House Speaker Kevin McCarthy (R-CA), who tried to squeeze draconian cuts to social spending out of the deal, and the Biden administration. At the time, some Republicans were opposed to raising the debt ceiling at all.
Now on the hook if the nation defaults and blows up the world economy, Trump is complaining that the debt ceiling was timed by Democrats to be a "trap" against him.
"Sounds like the ridiculous and extraordinarily expensive Continuing Resolution, PLUS, is dying fast, but can anyone imagine passing it without either terminating, or extending, the Debt Ceiling guillotine coming up in June?" asked Trump.
"Unless the Democrats terminate or substantially extend Debt Ceiling now, I will fight ‘till the end," he continued. "This is a nasty TRAP set in place by the Radical Left Democrats! They are looking to embarrass us in June when it comes up for a Vote. The people that extended it, from September 28th to June 1st, should be ashamed of themselves. It was political malpractice!"
Trump added: "Also, the Communist Global Engagement Center, a project of Crooked Hillary Clinton, should not in any way, shape, or form be extended and, the shielding of the very corrupt J6 Unselect Committee of Political Losers and Thugs would be suicidal for any Republican approving it. Likewise, this is not a good time for Congress to be asking for pay increases. Hopefully, you’ll be entitled to such an increase in the near future when we, 'MAKE AMERICA GREAT AGAIN!'"
All of this comes as one of Trump's closest allies and strategist, tech billionaire Elon Musk, blew up GOP support for the resolution and threatened primary challenges against any Republican who votes for it — a development that upended the whole process.
.....
A right royal mess, all because Musk is beholden to the balanced budget/debt and deficit myth.