Framework also imposes new work requirements for welfare recipients and prohibits any new taxes.
The debt limit deal struck late Saturday between House Speaker Kevin McCarthy and President Joe Biden rolls back some of Washington’s massive spending while delivering other conservative priorities like blocking new taxes and requiring some welfare recipients to work, according to a summary obtained by Just the News.
McCarthy described the deal as an “agreement in principle,” and it rolls back domestic spending to fiscal year 2022 levels while limiting “top line federal spending to 1% growth for the next 6 years.”
The debt limit would be raised by about $1.5 trillion until after the next presidential election as part of the agreement.
The outline of the deal includes clawing back tens of billions of dollars in unspent COVID-19 stimulus funds and streamlining the regulatory permitting process for energy projects with the first major reform to the National Environmental Policy Act (NEPA) since 1982, according to the House GOP document.
One can reasonably see a point in time where we are 50 trillion dollars in debt.
HOLY SH**.
It ain’t that far into the future, either.
But now, the most recent democrat approach is to have eminent economists begin to tell us, “the debt doesn’t really matter that much.”. All of those so-called “experts” are also progressive, liberal, and democrats.
We are in deep trouble.
Forgot to IMPEACH BIDEN & HARRIS !!!! ADD that to the DEAL !!!
A MUST !!!! Non- Negoitable !!!! They have to GO
Foghorn! Mid-day Tues, 1 day after an abysmal memorial day weekend here on the island. Yesterday was like a ghost town – mid offseason.
CLEAR signs things remain awful – yet listening to City Fail – all is well. No servers, lack of hospitality staff to clean rooms, will we see more restaurants close extra days in season or continue to close by 10pm?
Whats the plan City Hall? More tax on the rooms that are empty? Raising sales tax for food that is not consumed?
I sure hope bringing gaming to the island isn’t a future consideration. Just have to look to Atlantic City to see that DIDN’T work. Again, that DIDN’T work. Going alcohol free like Wildwood, NJ WON’T work here since you rely on that huge revenue stream.
Still sucks to be you!