By now we are all aware that a debt ceiling deal has been agreed to, in principle, between the Republican hostage takers and the leaders of the sane party. Full details will come later today. The House and Senate will vote on it on later this week.
Here are some reactions to the announcement — Democrats are by and large happy with the outcome; many of the small concessions would have been in play during budget negotiations later this year anyways. OTOH, the usual bomb-throwers of the republican party are throwing hissy fits and sharpening their knives against McCarthy.
President Biden:
Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle.
It is an important step forward that reduces spending while protecting critical programs for working people and growing the economy for everyone. And, the agreement protects my and Congressional Democrats’ key priorities and legislative accomplishments.
The agreement represents a compromise, which means not everyone gets what they want. That’s the responsibility of governing.
And, this agreement is good news for the American people, because it prevents what could have been a catastrophic default and would have led to an economic recession, retirement accounts devastated, and millions of jobs lost.
Over the next day, our negotiating teams will finalize legislative text and the agreement will go to the United States House and Senate. I strongly urge both chambers to pass the agreement right away.
What’s in the deal?
- The debt ceiling is raised for 2 years.
- Non-defense spending is essentially capped for 2024 and 2025.
- The age threshold for SNAP work requirements will increase from 49 to 54 years of age for adults who don’t have children.
- Work requirements are removed for homeless people and for veterans.
- Unspent COVID-19 relief money will be rescinded.
- Republicans get what they generally wanted with new work requirements in TANF for cash assistance recipients.
- Veterans’s medical care is protected.
- Cuts are made to the IRS funding in 2023.
- Payments must begin again for those with student loans, who had their loan payments paused due to COVID.
- Student loan borrowers will still be eligible to receive up to $20K in debt relief if they qualify (pending the current SCOTUS ruling).
Also, no changes to work requirements for Medicaid recipients. The deal protects tens of billions of dollars for clean energy, rebates and pollution clean-up efforts.
Here is McCarthy claiming victory in his tired and feeble voice, which will do little to convince the MAGA members of his party.
The MAGA caucus making noises — filled with their usual lies and deceptions. It is probably good for squeezing a few more dollars out of their gullible supporters.
Rand Paul is mad.
McCarthy on Fox this morning — setting support for the bill at 95%.
Damn the facts, it is full speed ahead for MAGA republicans -
Lindsey must have gotten the fax from trump this morning.
Rep. Dusty Johnson (R-SD) trying to sell the deal on CNN -
Dusty Johnson:
When you're saying conservatives have concerns, it is really the most colorful conservatives.
Those votes were never in play.
Overwhelmingly, republicans in the conference will support the deal. How can they not? It is a fantastic deal.
We agree!
Are the republicans going to win any new voters with their cruel policies? No, it just keeps the rabid base frothing at their mouths, nothing more.
President Biden and his administration can walk and chew gum gum at the same time. In the middle of these nerve-racking negotiations, conducted by veteran members of the administration, Biden and Harris were busy as usual with doing the People’s work and spreading the message of joy, perseverance and Democracy around the nation.
VP Kamala Harris becomes the first woman to deliver a commencement address at West Point.
We now need to spread this message to the electorate — that republicans threatened to wreck the global economy so that could take a few billion dollars away from the poorest among us while they gave away trillions to their donor class in tax cuts and who now want to give them even more. Republicans do not work for the American public, not even for their gullible and misguided supporters, who are being bled dry by the grifters at the top echelons of the party. Republican leaders are slave to their billionaire donors working for their benefit; in return they get a few crumbs, the power to divide the country and to inflict cruelty on millions of our most vulnerable.
GOTV!