Memorial Day Debt Delirium.
“Speaker Kevin McCarthy (R-Calif.) reported some progress Thursday as debt negotiations with President Biden’s team dragged on and lawmakers who departed the Capitol for Memorial Day weekend said they were unsure what will happen by next week (The Hill).
Leaked threads of a potential compromise package rattled House conservatives, who are balking at any significant concessions. The reports also worried Democrats, who complained to CNN that Republicans have been outpacing them in messaging and bravado. In the default-or-else duel, the House minority frets that Biden, whose poll numbers have fallen this month, might simply cave to avert default.”
The Debt limit crisis strikes again and once again America looks foolish on the World state with the possibility of a default right around the corner and some politicians determined to come to the precipice of disaster and look into the abyss. That being said there will come a time when the debt can’t go much higher if no one will buy it and continue lending to America. A degree of fiscal responsibility has to come within both parties. President Trump was given full reign to spend like there was no tomorrow with no repercussions from his own party. Fiscal responsibility actions must come more frequently and not just when a Democrat occupies the White House.
