McCarthy Praises the Debt Ceiling Bill Despite Unlimited Spending


“Speaker Kevin McCarthy (R-CA) and his negotiators praised the debt ceiling deal as “transformational.” He thinks it will alter the country’s trajectory.

His two negotiators, Reps. Garret Graves (R-LA) and Patrick McHenry (R-NC) said it would pass. The House Freedom Caucus is very displeased, but the bill will likely pass.

The Deal’s Great?

“We did a conference call with our conference, and over 95% were overwhelmingly excited about what they see,” McCarthy told reporters Sunday morning.

You can read the reaction of the Freedom Caucus on this link.

Two other Freedom Caucus members, Rep. Chip Roy (R-TX) and Rep. Ralph Norman (R-SC) said they don’t like the deal with Norman, calling it “insanity.”

Speaker McCarthy said he’s not worried about having to vacate the speakership. He says that while the bill isn’t something everyone wanted, this is the best result, given the divided nature of the government.

Maybe any deal is a win?

“I think (the bill) is good for the American public,” McCarthy said. “We’re going to have Republicans and Democrats be able to move this to the president. The president agrees with this bill as well.”

According to The Washington Examiner’s report, the deal includes significant Republican wins, including the clawing back of nearly $29 billion in unspent COVID relief funds, adding work requirements to the Temporary Assistance for Needy Families program and the Supplemental Nutrition Assistance Program up to age 54, clawing back the $1.9 billion appropriated to the Internal Revenue Service for the 87,000 new agents, implement a temporary 99% continuing resolution cap until all 12 appropriations bills are passed, and would restart student loan payments in 60-days.

McCarthy says we were able to cut spending “All the way lower than ’22 levels” Why not pre-COVID levels – 2022 was extraordinarily high?

The Swamp Deal’s a Disaster

This is what the House Freedom Caucus thinks is in the bill. It’s different from what Speaker McCarthy reported.

According to Rep. Matt Rosendale (R-MT), the new agreement has no full elimination of 87,000 IRS agents, no elimination of the IRA green energy subsidies, No elimination of the student loan redistribution program, no spending freeze at FY2022 levels.

The media likes it – uh, oh:

Pedro Gonzalez claims Kevin McCarthy, Biden, and Democrats secured $80 billion in new funding for years to help the IRS go after more Americans with more IRS agents.

He blames Donald Trump for supporting McCarthy, but the alternative was to let the Republicans pick another speaker, and it would have been a RINO worse than he is. Unfortunately, we have a lot of Republicans who agree with much of what Democrats want. All is not as easy as it seems.

Rep. Ken Buck tweeted. “I listened to Speaker McCarthy earlier tonight outline the deal with President Biden and I am appalled by the debt ceiling surrender. The bottom line is that the U.S. will have $35 trillion of debt in January, 2025. That is completely unacceptable.”

Gunther Eagleman writes that “the debt ceiling will remain uncapped until Jan 1, 2025.” If true, that is unlimited spending for a year and a half.

The truth is in the details, and we can’t see them. It’s the 11th hour of a holiday weekend.

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The Prisoner
The Prisoner
4 months ago

This is what we expect with a long known leftist spender like McCarthy. This deal seems to have been carefully designed to get enough people from both parties to support it. There will be politicking involved to see which members vote for it, but they will make sure there are enough votes. A disaster for McCarthy would be if he cannot get half his members to support it. Democrats will do lots of complaining though they know they got a big win.

Let’s Print Some More Inflationary Monopoly Money
Let’s Print Some More Inflationary Monopoly Money
4 months ago
Reply to  The Prisoner

Presidents always win the debt ceiling negotiations. They know a majority of congress will not allow the USA to default on their watch, as they fear the economic collapse that would follow. Every time this issue comes down to a last-minute deal, Congressional leadership puts lipstick on the pig and declares victory. They achieve a token win in order to save face. I’ve never put any faith in the debt ceiling negotiations because the congress has very little actual leverage.