Debt Deal Dunzy…Almost.
“The House on Wednesday overwhelmingly passed legislation negotiated by President Biden and Speaker Kevin McCarthy to suspend the debt ceiling and set federal spending limits, as a broad bipartisan coalition lined up to cast a critical vote to pull the nation back from the brink of economic catastrophe.
The bill would defer the federal debt limit for two years — allowing the government to borrow unlimited sums as necessary to pay its obligations — while imposing two years of spending caps and a string of policy changes that Republicans demanded in exchange for allowing the country to avoid a disastrous default. The 314-to-117 vote came days before the nation was set to exhaust its borrowing limit, and days after a marathon set of talks between White House negotiators and top House Republicans yielded a breakthrough agreement.”
The debt deal was again all encompassing, sucking the air out of the room in most of DC for several weeks. This latest deal will get the nation past the next presidential election thus removing it from an election year fiasco in 2024. The deal left many on both sides of the isle angry and upset which some say is the hallmark of a good compromise. That anger will dissipate in the months ahead as never ending politicking lumbers with everyone and everything on social media blast.
