What did you do for Friday night?
Mine was exciting! (Sarcasm intended)
Friday night our president made his very first public speech that was not a campaign promise and lie…..the speech was all about the debt deal…..
President Biden gave his first speech to the public from the Oval Office on Friday evening, and it centered on the debt ceiling deal approved by the House and Senate this week that will keep the United States out of default. “Crisis averted,” Biden declared of the agreement he’d reached with House Speaker Kevin McCarthy, which he plans on signing into law on Saturday, per Reuters. The president added that he and the GOP leader “were able to get along and get things done. … Both sides operated in good faith.” He conceded that “no one got everything they wanted” in the deal on the government’s $31.4 trillion debt limit, “but the American people got what they needed.” PBS notes that the president’s remarks were the most detailed yet on the agreement, as he’s remained mostly reticent while the major players hashed things out.
It’s a move the news outlet says “frustrated some members of his party but was intended to give space for both sides to reach a deal.” Biden also extrapolated the compromise he was able to reach with McCarthy to America at large, asking Americans to “stop shouting, lower the temperature, and work together to pursue progress,” per Reuters. “No matter how tough our politics gets, we need to see each other not as adversaries but as fellow Americans.” Per PBS, Biden acknowledged that “bipartisanship is hard,” then added, “Unity is hard. But we can never stop trying.” Reuters notes that presidents typically reserve speeches from the Oval Office “for the most significant and dramatic of events.” In this case, the White House says Biden wanted to make clear how serious things would’ve been had the debt limit not been raised.
His speech in full here.
Cutting future spending for poor people, sick people and children in order to pay the debts rung up by tax cuts for the rich and astronomical spending by the Pentagon. This is the gist of the deal Biden brokered with Kevin McCarthy, a deal that needed the support of Democrats to push through the Republican-controlled House of Representatives. In the end 165 Democrats voted for the bill and only 149 Republicans.
The deal is bad and probably only a harbinger of the coming bi-partisan austerity. According to the Center on Budget and Policy Priorities the agreement will “increase hunger and poverty” among poor older Americans, a reference to new SNAP work requirements. What a thing to brag about when you go back to your state or district.
Biden claims he “compromised on the budget, not the debt ceiling.” Of course, that’s the point. The debt ceiling only exists to provide neoliberal politicians like Biden an excuse for imposing austerity on social and environmental programs while funding an ever-expanding defense budget…
Even for Republicans, it’s never been about the debt. As Dark Lord Cheney said, “Reagan taught us that the debt doesn’t matter.” It’s about re-allocating the federal budget to the people who put you in office: arms makers, banks, drug companies, oil companies, slumlords, tech giants, hedge funds. If you don’t have a lobbyist, a PAC or a dark money conduit, you don’t count for a damn thing in this town.
(thoughts from Jeffrey St. Clair
But all this drama about the debt….the GOP just helped add to the total…..
Case in point: the morning after the “Debt” deal passed the House and was sent to the Senate, Susan Collins, the top Republican on the Senate Appropriations committee, announced her intention to introduce an emergency supplemental to raise Pentagon spending beyond debt limit deal. “That is what we need to do,” Collins said. “That is what I would ask the administration and my colleagues on the other side of the aisle to commit to.”
Does anyone else see how pathetic all this crap has become?
In the next couple of years we will hear and see all this absurdity again.
Why?
The debt ceiling legislation that is now headed to President Joe Biden’s desk after the Senate passed it late Thursday includes $1.4 billion in cuts to IRS funding that was aimed at providing the agency with the resources to pursue rich tax evaders, who cost the federal government tens of billions of dollars in revenue each year.
By itself, the $1.4 billion IRS cut would add $900 million to the deficit over a 10-year period, according to a separate CBO analysis released earlier this week.
This stupidity never ends….kinda like the wars we bankroll.
I Read, I Write, You Know
“lego ergo scribo”
Thank you my friend. chuq
I didn’t see his speech on the news here. They seemed more interested in showing footage of him falling over on a stage.
Best wishes, Pete.
That was far more entertaining than this boring speech chuq
In all fairness, The assertion that the recent debt ceiling legislation, which includes $1.4 billion in cuts to IRS funding, is a sign of stupidity and perpetuates ongoing problems is an oversimplification of a complex issue. While it’s understandable to have concerns about the effectiveness of government spending and the allocation of resources, it is important to examine the broader context and consider the potential implications of such decisions.
Firstly, it is essential to acknowledge that the IRS plays a crucial role in ensuring tax compliance and collecting revenue that is vital for funding various government programs and services. The $1.4 billion cut in IRS funding may limit their ability to adequately address tax evasion and enforce tax laws. By reducing the IRS’s resources, it becomes more challenging to pursue wealthy tax evaders who cost the government billions of dollars annually. This, in turn, can lead to a loss of potential revenue that could have been used to invest in public infrastructure, education, healthcare, and other essential services.
Moreover, the claim that the $1.4 billion cut to IRS funding would add $900 million to the deficit over a 10-year period, according to a CBO analysis, highlights the potential long-term negative consequences of such a decision. While deficit reduction is a valid concern, it is essential to consider the trade-offs involved. By compromising the IRS’s ability to enforce tax laws and collect revenue, the government may miss out on much larger sums of money owed by tax evaders. The lost revenue could far outweigh the short-term savings achieved through funding cuts.
It’s also worth noting that the complexities of tax systems and the strategies employed by sophisticated tax evaders require a well-equipped and adequately funded IRS. Without the necessary resources, the agency may struggle to keep up with evolving tactics and adequately investigate cases of tax evasion. This undermines the integrity of the tax system and creates an unfair burden on honest taxpayers who fulfill their obligations.
While it is valid to express concern about the allocation of resources and government spending, it is crucial to evaluate the potential long-term consequences of cutting funding to essential agencies like the IRS. By providing the IRS with adequate resources, we can better address tax evasion, promote tax fairness, and ensure that all individuals and corporations contribute their fair share to the country’s well-being.
I do not think it is oversimplification….while you tried to make good points it just clouded the issue…. basically all that you wrote is what I said only with more pizazz….chuq
I guess I am getting better at my skills of comprehension or something… I never thought that would ever happen… but I am glad that it has. LOL