C_Clayton_Jones
Diamond Member
The Republican plan is to continue their campaign of domestic terrorism.This is true. When the Democrats took over we knew their plan: Get Trump, get Trump, get Trump.
āHouse Republicans are preparing a plan telling the Treasury Department what to do if Congress and the White House donāt agree to lift the nationās debt limit later this year, underscoring the brinkmanship newly empowered conservatives will bring to the high-stakes negotiations over averting a U.S. default, according to six people aware of the internal discussions.
The plan, which was previously unreported, was part of the private deal reached this month to resolve the standoff between House conservatives and Rep. Kevin McCarthy (R-Calif.) over the election of a House speaker. Rep. Chip Roy (R-Tex.), a leading conservative who helped broker the deal, told The Washington Post that McCarthy agreed to pass a payment prioritization plan by the end of the first quarter of the year.
The emerging contingency plan shows how Republicans are preparing to threaten to not lift the nationās debt ceiling without major spending cuts from the Biden administration. Congress must pass a law raising the current limit of $31.4 trillion or the Treasury Department canāt borrow anymore, even to pay for spending lawmakers have already authorized. Economists warn that not raising the debt limit could cause the United States to default, sparking a major panic on Wall Street and leading to millions of job losses.
Treasury Secretary Janet L. Yellen said Friday said that the Treasury Department will begin āextraordinary measuresā next week to ensure the federal government is able to meet its payment obligations but that it cannot guarantee the United States will make it beyond early June without defaulting. White House press secretary Karine Jean-Pierre reiterated Friday that the administration will not negotiate over the debt ceiling.ā