Monday, October 2, 2023
HomeThis Just InDeal struck to raise debt ceiling

Deal struck to raise debt ceiling

House Speaker Kevin McCarthy has released the text of the bill to raise the debt ceiling limit until 2025, a result of his negotiations with President Joe Biden this weekend.

The bill, the Fiscal Responsibility Act, increases defense spending and claws back unspent Covid relief funds. Lawmakers will be voting on the bill, which was released in advance of the X-date, when the federal government runs out of money and cannot pay its bills. Last week, Treasury Secretary Janet Yellen said that date is June 5.

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Critics say the bill, which allows government borrowing of another $4 trillion that would be added to the existing $31.4 trillion debt, does not rein in the $80 billion appropriation that weaponizes the Internal Revenue Service against Americans.

House Republicans released a 10-point outline of the plan on Saturday:

The entire bill, released Sunday, is below:

Suzanne Downing
Suzanne Downing
Suzanne Downing had careers in business and journalism before serving as the Director of Faith and Community-based Initiatives for Florida Gov. Jeb Bush and returning to Alaska to serve as speechwriter for Gov. Sean Parnell. Born on the Oregon coast, she moved to Alaska in 1969.


  1. Given that there is very little chance that the USA could or ever would ever pay this debt off, I am not sure that it makes any difference what the government or even the voters think the ‘debt ceiling’ should be. At this point the only opinion that really matters is that of the potential lenders. And yes, I did mean to rule out the voters as someone whose opinion matters.

  2. Relieved for social security recipients and Medicare insured. Let’s stop making Americans pay for wars and corruption in other lands though.

  3. Yawn. Sound and fury signifying nothing. As if anyone thought fiscal responsibility would happen.

    • Indeed, KB.

      And as I predicted, the Republicans rolled over onto their backs to the Democrats AGAIN —- just maybe only 90% of the way this time, as opposed to the complete submission that they have shown in the past.

  4. I am surprised that Joe Biden and his regime have agreed to this legislation. One of the central tenets of Clintonism, as perfected by Comrade Obama, is to never, ever, concede anything, let along actually compromise a dispute. It is simply not in the DNA of the Left. I look for something to happen which will prevent this from being enacted.

  5. Just to remind people, the constitution of the United States laid out that money is either Gold or Silver and that the federal government is the only entity allowed to issue money. The money in your great grandparents pocket used to be Gold and Silver.
    Silver hasn’t been constitutional money since 1873, and Gold hasn’t been legal tender since 1934.

    We’ve been robbed blind since Gold and Silver were demonitized by the federal government for over 100 years. Some ADN fan of Fiat money is going to comment about the Nixon shock in 1971 and completely ignore inflation and terrible government policies that took place after Gold and Silver were demonitized. They like to talk around the fundamental problem and never address it. How much was a gallon of milk in Alaska in 1959, 1979, 2019, and today? What was the price of an ounce of Gold in those years and today?

  6. “the Fiscal Responsibility Act” ”the patriot act” ” the inflation reduction act”
    lol they always name these things the complete opposite of what they actually are
    the political class thinks everyone in this country is a 75 IQ dullard

  7. Suzanne,
    Am I missing something?
    “…. does not rein in the $80 billion appropriation that weaponizes the Internal Revenue Service against Americans.”, and bullet point six of the outline above seem to be at odds. Help please.

    Have a reflective Memorial Day.

  8. Suzanne, so those are the GOP positives. What did Biden get?
    Conflicting statements as to the IRS, “does not rein in the $80 billion appropriation that weaponizes the Internal Revenue Service against Americans” vs point 6.

    • From OAN: “It would also cut $10 billion of funding for Biden’s 87,000 I.R.S. agents.”

  9. Any suffering for not raising the debt ceiling would have been born by those least deserving of it, to make them cry out in pain, with their cries amplified by the corrupt media, in an effort to shift sentiment.

    This mess cannot be fixed without some serious demolition FIRST. On the whole it is not for me to do, and there is at least one righteous judge left. It is there where our reliable guidance will come from.

  10. Well at some time the roof will cave in and when it does everybody needs to have a list of culprits and political gang members who did this. The general public has no idea to what’s coming because of a few power hungry people.

  11. Seems like we might’ve missed a great opportunity to “ELIMINATE” more than a few of these worthless Federal Agencies, further reducing wasteful spending and significantly trimming Federal Payrolls.

  12. But we will still be sending tens of billions of dollars to the the Biden family’s money laundering operations in Ukraine!

  13. In our private correspondence, my good friend noted as follows: “I’m not impressed with what McCarthy accomplished given the strong hand he went into the “negotiations” with, after the Biden administration had already set themselves up for being to blame if their tactic of refusing to negotiate were to fail. The House Republicans even passed a bill that would have provided the ceiling relief and Biden refused to even look at it. These claims of “accomplishments” now just look like bullshit words over very little substance to me.”

  14. It’s a really sad thing it’s hailed as an accomplishment.

    All that was accomplished was the GOP capitulated (as expected) and we’ll become insolvent just a bit slower.

    The patient is bleeding to death from a massive chest wound and these guys are taking a victory lap for putting a band aid on the patient’s forearm.

  15. “The Inflation Reduction Act increased the IRS budget by roughly $80 billion over 10 years.”
    “Of the unobligated balances of amounts appropriated or otherwise made available for activities of the Internal Revenue Service by the ‘‘Inflation Reduction Act of 2022’’ as of the date of the enactment of this Act, $1,389,525,000 are hereby rescinded.”
    One law gives the IRS another $80 billion and this “Big Win” takes back $1.4 billion. Woo-hoo!
    Reading through the “Fiscal Responsibility Act of 2023” makes me wonder if anyone actually understands this monstrosity. Probably why they just issue their dishonest bullet points list claiming huge wins when it’s actually a huge loss for conservatives.
    And all the clawbacks? Read them…basically “We take it back…well, except for a few billion here and a few billion there.”
    And to answer the standing question…yes, if this is winning then I’m definitely tired of it.

  16. I love it: “weaponizing” of the IRS. What a ridiculous and whiny statement. The IRS is woefully understaffed and that’s one of the reasons so many tax cheats get away with not paying their fair share. The funding would include additions in ALL IRS staff, not just those that do audits. How about some accurate reporting please.

    • Wow.
      Stretch much?
      Tell us cman, is there anything that the leftists do that you are not in full, complete support of?

      • How is it a stretch? Its silly to say that hiring more customer service people for the IRS, for instance, is “weaponizing” the agency. You know as well as I do that that is simply hyperbole and political theatre. Would it be better for tax cheats to get away with it Surely you don’t support that, do you? Do really think that the term “weaponize” isn’t stretching it?

  17. “Honey! We owe too much, and cannot afford to pay the bills.”
    “Call the credit card company, and have them raise our limit, again.”
    Makes zero sense for a family’s household finances, but for some reason, this is a valid approach for the Federal Government?

    • Agreed. Its a ridiculous way of doing business. The democrats love to spend money like a drunken Kennedy and Republicans throw endless amounts of money at the DoD regardless of the waste. These debt limit negotiations should also include a requirement to actually balance the budget, just like I have to do at the end of every month. It’s insanity.

  18. I freely admit that I rarely fully understand these spending bill fights. It seems that every time I start to feel good about an upcoming bill, some rider surfaces that was previously unmentioned, and I find out that the ‘spending cuts’ end up costing me more in taxes. The cuts in this proposal sound good, but when a## clowns (better, Suzanne?) like mconnel, mccarthy, chucky schumer, and hakeem jefferies, ALL support this bill, red flags are waving and klaxons are blaring in my mind. If this bill passes, I just know that the proverbial green weenie will come flying in from some unpredicted sector. And when it does it will be totally devoid of anything slippery.

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