05.08.2023 0

Biden playing with FIRE on DEFAULT! LIES about DEBT CEILING and SPENDING CUTS!

Biden on debt ceiling and spending cuts: ‘No one’s ever tied them together before.’ Except in 2011 and 1996, Mr. President.

President Joe Biden on MSNBC on May 6 claimed that Congress has never increased the debt ceiling in exchange for budget, spending and regulatory changes: “You just can’t. No one’s ever tied them together before.”. There’s only one problem. It’s completely false. Just in recent history, both the Budget Control Act of 2011 and the Contract With America Advancement Act of 1996 resolved disagreements between Congress and the president over raising the national debt ceiling. Both bills made changes to law to restrain the growth of spending or to pass other regulatory reforms. Particularly, the Budget Control Act of 2011 set discretionary budget limits into law, saving almost $1 trillion, increased the debt limit and even provided for the consideration of a balanced budget amendment. As for the 1996 Contract With America Advancement Act, that also increased the debt ceiling and included the Congressional Review Act, the Line Item Veto Act, the Senior Citizens’ Right to Work Act and the Small Business Growth and Fairness Act of 1996. H.R. 2811, the Limit, Save, Grow Act of 2023 — which has already passed the House — would increase the national debt ceiling and cut $4.8 trillion in deficits through 2033. Historically, these situations have arisen from a Republican takeover of the House and/or Senate following a Democratic president’s first Congressional midterm election. Biden might prefer an alternative to this process but so far he hasn’t really articulated one.

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