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October 26, 2015

Here We Go: Congress Working On Hiking Spending And Lifting Debt Ceiling Before Ryan Takes Over

Never let a crisis go to waste.

Bipartisan budget talks to avert a potential fiscal calamity picked up steam Monday, as leaders in both parties sought to cut an accord to avoid a debt default by early November.

Several sources familiar with the discussions said that the House was looking at moving a debt limit increase through the 2016 elections, taking the issue off the table for this Congress. As part of the fiscal package, lawmakers would consider a budget deal that would raise budget caps and include corresponding cuts to offset the higher spending, sources said.

First of all, "calamity"? Reminder: for the year or so the sequester actually was in effect spending was cut and the economy was fine.

As for the urge to find a deal, we covered this on the podcast. How was this "unity" thing going to play out in practice under Ryan? I guess the idea is for Boehner to try and shove everything through (probably with Democrat votes) to clear the decks for Ryan.

Answer me this...how do you increase spending ("raise the budget caps") and cut spending simultaneously?

Oh right, the magic of out years. Remember when they played this game two years ago (The Ryan-Murray deal, yes *that* Ryan)? Sure they promised us cuts in 2014/15 but instead they are going to give us even more cuts....in 2023-2025. So this time there'll be more spending this year and next but damn watch out for the super big cuts in 2025-2030! It's going to be SPECTACULAR.

But there are elections to be bought with your money, so pony up!

And Republicans wonder why they are held in contempt.

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posted by DrewM. at 01:12 PM

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