Wednesday, December 7, 2016

According to my hometown newspaper

Congress is brewing up a budget mess that could turn President-elect Donald Trump’s first 100 days into a fiscal donnybrook.First, it likely will vote this week to extend the current federal budget just long enough that it expires in the early spring. Second, it’s put off until the same time the political monster called the debt limit and the need to authorize more borrowing. And all of it will aggravate fault lines and threaten hopes of cooperation or comity just as Trump pushes for dramatic changes in taxes, health care and infrastructure.The most potentially controversial is the debt limit.

It was the debt limit that ignited a tense showdown between Republicans and President Barack Obama in 2011 and briefly shut down much of the government two years later.Last year, lawmakers pushed any deliberations on the debt limit into 2017. The debt limit is currently suspended until March 15, though it’s expected Treasury has enough accounting measures available to keep the government paying its bills through summer.That still means Congress and Trump are going to have to figure out a way to pay those bills and somehow deal with a debt that’s about to top $20 trillion, or double what it was when President Barack Obama took office eight years ago.
Some one noticed. 

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