Home » budget

Tag Archive: budget

Chuck Schumer shows he’s not up to the Senate Minority Leader job

U.S. Senate Minority Leader Chuck Schumer

As many people know, last Friday, 10 U.S. Senate Democrats, led by Minority Leader Chuck Schumer, voted with Republicans to end their filibuster of the temporary Republican spending bill (“Continuing Resolution” or “CR”) to fund the federal government for the remainder of Fiscal Year 2025. This action advanced the bill to a Senate vote. Once that happened, the result was preordained: Republicans, with 53 Senators, had more than enough votes to pass the CR by simple majority vote.

As background, Republicans hold the majority in both the U.S. Senate and U.S. House, and have been in the House majority since January 2023. It is their responsibility to come up with the votes to pass spending bills to keep the federal government open. They have repeatedly failed at their job. For example, last fall, the House failed to pass a government spending bill. Typically, the Republicans then come begging to the Democrats to provide the votes to pass such bills, or at least temporary CRs, to avoid a government shutdown. In return for their votes, it is natural for Democrats to ask for and get something in return, such as provisions to maintain certain programs or funding levels that Democrats favor, or the non-inclusion of certain objectionable Republican provisions.

This time, however, Schumer and nine other Democratic Senators caved to the Republicans, getting nothing. In voting to end the filibuster, then voting for the CR itself, they went against every Democratic U.S. House member except one, and against more than two-thirds of their fellow Democratic Senators. According to Common Dreams:

The bill proposes $13 billion in cuts to non-military spending and imposes no constraints on the Trump administration or unelected billionaire Elon Musk as they eviscerate federal agencies and unlawfully withhold spending authorized by Congress.

President Biden handles the debt ceiling brilliantly

President Biden may have just saved the country

With the U.S. House of Representatives having passed a bill on Wednesday night to suspend the nation’s debt ceiling, and the U.S. Senate passing the bill late last night, it is now all but certain that a historic Republican-caused default on the U.S. debt has been averted. President Joe Biden is expected to sign the bill at any time, and to address the nation this evening. While there is plenty of credit to go around, President Biden deserves the most praise for the extreme competence, professionalism and political savvy with which he has handled the issue.

Here is Biden’s statement after Wednesday’sj House vote, with emphasis added:

Tonight, the House took a critical step forward to prevent a first-ever default and protect our country’s hard-earned and historic economic recovery. This budget agreement is a bipartisan compromise. Neither side got everything it wanted. That’s the responsibility of governing. I want to thank Speaker McCarthy and his team for negotiating in good faith, as well as Leader Jeffries for his leadership.
This agreement is good news for the American people and the American economy. It protects key priorities and accomplishments from the past two years, including historic investments that are creating good jobs across the country. And, it honors my commitment to safeguard Americans’ health care and protect Social Security, Medicare, and Medicaid. It protects critical programs that millions of hardworking families, students, and veterans count on.

President Biden vs. Republicans: debt ceiling PR battle forming

Debt ceiling D-Day is June 1

We’ve been following the looming debt ceiling crisis since January. At that time, the U.S. federal debt ceiling, limited by law, was reached, and the government began to take so-called “extraordinary measures” to keep things running as is without going into default. However, the problem has not been solved, and it is rapidly coming to a head. U.S. Treasury Secretary Janet Yellen says that if Congress doesn’t pass a law extending the debt limit by June 1, the “extraordinary measures” will run out and we will begin to go into default. That could cause catastrophic economic results, including a deep recession, a stock market crash, a spike in interest rates, and the government’s inability to send out Social Security checks, or make interest payments on Treasury bonds.

Some people say the Republicans want to blow up the U.S. economy this way. The theory is that the Republicans, who number in the minority, can only take back the White House and full control of Congress via this big gamble of (1) crashing the economy and (2) blaming President Joe Biden and the Democrats for the crash. To that end, Republicans are holding the debt ceiling, which is the bill that must be paid for past spending, hostage to budget demands for massive cuts in future spending for veterans, the environment, renewable energy, student loan forgiveness and other crucial items, even though these are two completely separate legislative processes. Republicans may think they can get away with such hostage-taking in part because the mainstream media notoriously play the “both sides at fault” game, or even worse, may be more inclined falsely to blame President Biden for the current crisis and its possible consequences.

Conservatives and liberals finally agree: they hate CRomnibus

CRomnibus opponent Sen. Elizabeth Warren (D-MA)

CRomnibus opponent Sen. Elizabeth Warren

Conservatives and Liberals finally agree on one thing: they hate the $1.1 trillion continuing resolution of the omnibus federal spending bill (nicknamed “CRomnibus”) designed to fund the U.S. federal government through September 2015. However, conservatives and liberals oppose the bill for different reasons. Strolling through the Twitter hashtag #CRominbus, as well as reading and hearing statements from various quarters, is quite revealing.