Thursday, July 18, 2019

Add 40 billion to our interest charges

Senate Republicans say they want a sign directly from President Trumpthat he will support any spending and debt ceiling deal.
The push for the president to publicly say he would sign an agreement comes as House Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin are on the cusp of a two-year budget deal that would also increase the debt ceiling into 2021.

"I think we need the president to indicate he'll support it," said Sen. John Cornyn (R-Texas), an advisor to Majority Leader Mitch McConnell (R-Ky.), asked if assurances from Mnuchin would be enough.

Senate Appropriations Committee Chairman Richard Shelby (R-Ala.) added that he and McConnell would also like to see Trump say he supports the budget deal before it comes up for a vote.

"Oh absolutely," Shelby said, asked if he needs a public assurance from Trump. "I think the leader would want that too."

The clamor for Trump to publicly weigh in comes after they were caught flat-footed in December when the president rejected a Senate-passed continuing resolution (CR) to avoid a partial government shutdown.

The plan is to add about 2 trillion to the debt over two years. The new interest charges will be 40 billion, and the super wealthy will get about have that, for market making duties.   If we shut down for a month, then Dems go berzerko hysterical.  I would shut it down for a month, just for the entertainment of the progressives demanding we pay off the super wealthy.

Out interest charges have been growing about 10% per year since the corporate tax cut.

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