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View Full Version : Debt Ceiling To Be Suspended - Spending To Increase




r3volution 3.0
07-22-2019, 06:31 PM
https://www.wsj.com/articles/white-house-and-congress-near-agreement-on-spending-debt-ceiling-11563799484


WASHINGTON—Congressional and White House negotiators reached a deal to increase federal spending and raise the government’s borrowing limit, securing a bipartisan compromise to avoid a looming fiscal crisis and pushing the next budget debate after the 2020 election.

The deal for more than $2.7 trillion in spending over two years, which must still pass both chambers of Congress and needs President Trump’s signature, would suspend the debt ceiling until the end of July 2021. It also raises spending by nearly $50 billion next fiscal year above current levels.

The agreement forgoes the steep spending cuts initially sought by the administration, providing for about $320 billion in spending over two years above limits set in a 2011 budget law that established automatic spending cuts, known as the sequester.

Mr. Trump, a Republican, announced the deal on Twitter late Monday, citing all four congressional leaders. He added: “This was a real compromise in order to give another big victory to our Great Military and Vets!”

I guess Donald's waiting till his second term to pay off the national debt..

EBounding
07-23-2019, 11:38 AM
First comment? Let's get the excuses out of the way:

Hillary

Gorsuch

Didn't start new war over dead robot

Any other whatabouts?