The Democrats in Washington have been addicted to spending for the last two years. It’s time to end their addiction.
May 22, 2023 · 3:03 PM UTC
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Until 1917, the Treasury Department had to get congressional permission each time it wanted to borrow money. That year, Congress passed the Second Liberty Bond Act, which streamlined the process and set a limit on how much could be borrowed.
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1939, Congress set a single debt limit ($45b, over $1 trillion in today's dollars) for the Treasury Department and gave it wider discretion on how to borrow the funds. The law has mutated, but the general concept has remained the same: Congress has to approve increasing the amount, or the government can't borrow more money to pay debts.
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Facts: Since 1960, Congress has raised, extended, or revised the debt limit 78 separate times, of which 49 were under Republican presidents and 29 were under Democratic presidents, according to the Department of Treasury. In each of those instances, Congress took action on the debt limit before the nation defaulted.
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Hmmm. Not sure who wrote this one, but let's not commingle the very serious US epidemic of addiction with government spending. This is provocative, needlessly so. As the debt ceiling deadline approaches, I would sincerely appreciate knowing which GOP pet projects you are prepared to sacrifice funding for as you ask Dems to do the same. I have not been able to find anything on this. I continue to be hopeful that when I open my feed I see a message from you that reads,"GOP is prepared to cease/cut (by __%) funding to_____, _____, _____ etc) if democrats will agree to funding cuts to ______ (literally whatever they will agree to.)