Debt Limit Nightmare Looms…

tomfernandez28's Blog

Screen Shot 2017-03-24 at 6.13.22 PM

By Steve Goldstein

The annual wrangling around the debt limit was set to disappear,pundits thought, since Republican control of both the executive and legislative branch would effectively make any showdown over such a silly exercise an own goal.

That’s the current view in the Trump White House at least.

“We’ve spent the money. The concept of the debt limit is somewhat of a ridiculous concept,” said Treasury Secretary Steven Mnuchin on Friday. “I am hopeful that this something Congress addresses before the [summer] break. I think everybody understands we need to raise the debt limit, and that’s something we’re going to do.”

Quietly when everyone’s focus was on the health bill, Sen. Rob Portman dropped a bill that would force a dollar-for-dollar reduction in spending — over 10 years — for every dollar that the debt limit was raised.

That sort of legislation isn’t unique, but the fact…

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Author: Lisa the Infidel

I am an #Infidel - born and bred North Carolina.

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