Posted BY: Bill | NwoReport
Today is the day. It’s D-Day, and the 435 members of the House of Representatives will hit the beaches, hoping to avoid default. It will be a slog, and it wouldn’t shock me if House Speaker Kevin McCarthy falls short of his deal to increase the debt ceiling for the next two years. It’s a $4 trillion increase but comes with little to no guardrails; it could be unlimited.
There’s no cap, and the spending cuts, while touted as an accomplishment by Rep. Thomas Massie (R-KY) of all people, are trivial at best. Regardless, his support guaranteed that the bill would pass the House Rules Committee, which it did last night, and now we expect the vote sometime this evening. Speaker McCarthy faces internal divisions, with the usual suspects on our side of the aisle forming the opposition. It’s not unwarranted.