4th June 2023, 12:12 PM
It's not what I'd call a good deal, mind you. We still lost things, but the cuts were minor enough the more extreme republicans are absolutely furious. The big question is this. Will they vote for it? It would be political suicide not to, and it would also throw us into a nightmare of a recession as confidence in the US to pay off it's debts utterly evaporates.
I think the veil is slipping a bit. It's becoming more and more obvious that the republicans alone are responsible for "holding up" the debt ceiling talk. That said, we absolutely should get rid of the debt ceiling entirely. The only two countries on the entire planet of Earth that have a "debt ceiling limit" are us and Denmark. It's pointless. All it does is threaten to undermine our debts, which by the 14th amendment shall not be questioned. Incidentally, even if it was a good idea not to invoke that amendment, it was a TERRIBLE idea to actually state it wouldn't be invoked. NEVER tell the other side what you won't do in advance. That's basic rules of negotiation.
I think the veil is slipping a bit. It's becoming more and more obvious that the republicans alone are responsible for "holding up" the debt ceiling talk. That said, we absolutely should get rid of the debt ceiling entirely. The only two countries on the entire planet of Earth that have a "debt ceiling limit" are us and Denmark. It's pointless. All it does is threaten to undermine our debts, which by the 14th amendment shall not be questioned. Incidentally, even if it was a good idea not to invoke that amendment, it was a TERRIBLE idea to actually state it wouldn't be invoked. NEVER tell the other side what you won't do in advance. That's basic rules of negotiation.
"On two occasions, I have been asked [by members of Parliament], 'Pray, Mr. Babbage, if you put into the machine wrong figures, will the right answers come out?' I am not able to rightly apprehend the kind of confusion of ideas that could provoke such a question." ~ Charles Babbage (1791-1871)