Tag Archives: Debt ceiling

Work requirements make the poor poorer

Republicans are holding the economy hostage by refusing to raise the debt ceiling for one reason and one reason only: their determination to slash federal spending and make the poor poorer. President Biden and House Speaker McCarthy are still negotiating a deal to raise the debt ceiling before June 1, as Treasury Secretary Janet Yellen warned Congress yesterday that it is highly likely that the federal government will run … Continue reading Work requirements make the poor poorer »

Biden must not blink on the debt ceiling

As President Biden and Speaker McCarthy wrap up a meaningless, unproductive meeting about the debt ceiling, the Patriotic Millionaires would like to offer our perspective on the absurdity masquerading as serious discussion among lawmakers and members of the media. Biden and the Democrats can’t rely on Republicans to come to their senses and do the right thing anymore. If Republicans are willing to let the … Continue reading Biden must not blink on the debt ceiling »

Get Ready for a Debt Ceiling Showdown

Last week, after a historic five-day battle involving no fewer than 15 rounds of voting, Representative Kevin McCarthy (R-CA) was elected Speaker of the House of Representatives for the 118th Congress. In order to win the gavel, McCarthy had to make concessions to a group of 20 far-right Republicans, the majority of whom belong to the House Freedom Caucus. We don’t know the details of many of these back-room … Continue reading Get Ready for a Debt Ceiling Showdown »

Eliminate the debt ceiling

Last week, we told you about many important issues that Democrats have on their plate in the lame duck session. For this week’s Closer Look, we’re going to dive a little deeper into one of the most important things Democrats should be prioritizing in the three weeks before they officially lose control of the House: fixing (AKA eliminating) the debt ceiling. Established by Congress in 1939, … Continue reading Eliminate the debt ceiling »

Republicans are Politicizing the Debt Ceiling–Yet Again

Republicans are making the disastrous decision to politicize raising the debt ceiling— YET AGAIN. The debt ceiling, which is the legal limit on the amount of debt the U.S. treasury sustains, or the actual amount the U.S government is permitted to borrow, is vital to the stability of our economy. Since Congress spends more than it collects in revenue, it must allow the Treasury Department … Continue reading Republicans are Politicizing the Debt Ceiling–Yet Again »