Pelosi reportedly rejects latest White House debt limit offer over spending cuts
S E E D E D C O N T E N T
House Speaker Nancy Pelosi is rejecting the White House ’s latest debt limit proposal, which demanded $150 billion in spending cuts, Bloomberg News reported on Friday.
Late Thursday, the Trump administration sent Democrats a budget agreement, requesting they choose an area to cut $150 billion in spending, out of an option of $574 million in saving options, to offset the costs of a two-year budget cap agreement, according to Bloomberg.
Officials told Bloomberg that the proposal is a starting point.
Negotiations between Trump administration officials and congressional leaders are expected to continue on Friday, as they hope to pen a deal in order to set up a House vote on it next week -- ahead of Congress’ impending August recess.
Treasury Secretary Steven Mnuchin said on Thursday during a CNBC interview that lawmakers were close to an agreement, and that he was confident the U.S. government is not at risk of defaulting on its debt.
“I think that everyone is in agreement that we won’t do anything that puts the U.S. government at risk in terms of our issue of defaulting,” he said during the interview. “I think that nobody wants a shutdown in any scenario.”
In the “most conservative” scenario, Mnuchin said it’s possible the federal government has an issue at the beginning of September before lawmakers are scheduled to return from their summer recess on Sept. 9. He previously warned House Speaker Nancy Pelosi that the government could run out of cash by early September if Congress didn’t raise the debt ceiling ahead of its August recess.
“That’s why I’ve encouraged them to raise the debt ceiling before they leave,” he said.
The debt ceiling -- which is currently set at $20.46 trillion -- is the legal limit on the total amount of debt that the federal government can accrue; according to the Committee for a Responsible Federal Budget, it applies to both the $16.2 trillion held by the public, and the $5.9 trillion owed by the government.
Article is LOCKED by author/seeder
Tags
Who is online
130 visitors
"Pelosi has sought to pair a deal on government spending levels with an agreement to raise the debt ceiling.
Will Republicans give up on all they achieved in 2011?
Will Pelosi allow spending cuts?
Is there a government shutdown coming?
"$16.2 trillion held by the public , and the $5.9 trillion owed by the government."
Somebodies got to do ....."Something"
.....to get those numbers Flipped. I know I didn't borrow anywhere near that $16.2 Trillion in my lifetime to date. NOT EVEN CLOSE ! 
My hunch is that legislators think all they will ever be able to do is pay the interest on the current debt. Both parties want to be able to fund various programs. Democrats are talking "the Green New Deal", medicare for all, free tuition and health benefits for illegal aliens!
Folks tout how when one might say they reduce the Debt/deficit, it's great, but in reality, the one doing the claiming, still raised the Debt/deficit.
My fav. part was how they broke it down to show "Government" doesn't owe as much as the public. Only the "Government" can cause that much debt/deficit. Everything was their idea in the first place. But the Burden is STILL on US !
Time for EVERYONE to REALY have 2 jobs. At least we'd still get a cat nap now and again.
The current debt is unsustainable. There is no end in sight!
Trump just confused the hell outa government staff (A Good Thing), when he told them in his second term, they were to look to anywhere they could cut spending. He shored up what he knew was needed to be shored up in his first term, and now it's time for "Congress" to dig deep into what isn't needed anymore, as Rand Paul has been advocating for years !
Are you looking at polls again ?
3 TRILLION + added since Jan. 20, 2019.
Are you claiming that $3 TRILLION has been added in less than 6 months?
Really?
As 74% of our budget is devoted to healthcare (28%), pensions & SS (25%) and the military (21 % on the books), that really only leaves 26% that may or may not be open to cuts. That is unless someone has the gumption to take on the Holy Trinity.
What we need is another sequestration act only this time much larger than the last. We need to force them into the cuts or they will never happen.
You would seem to be correct Dean, treat them as the children they are since they cannot control themselves.
The Sequester Act is still in force. Trump removed the military from the sequester. Trump has already signed a Sequester authorization FY 2020.
Yet it doesn't seem to be enough does it?
Not when the government can pass emergency spending bills, omnibus bills, etc whenever they feel like it; with absolutely no way to pay for them, like the renewal of the 9/11 victims compensation fund and the border emergency fund.
As for the military. NATO needs to get off their collective ass and become an effective military force w/o the US. Until we stop being the police for the free world we will need to remain the #1 military force on the planet- able to fight all other countries (at the same time even) if needed.
Trump hasn't submitted anything close to a balanced budget, in fact his budgets are off the charts.
We could remain the #1 military force on the planet for a third of what we spend.
Trump is not a fiscal conservative. I don't ever remember claiming he was. Also, Trump submits a budget; but like all Presidents his budget doesn't mean anything. It is Congress that holds the power of the purse; and they are the ones that decide the budget.
No, no we couldn't. You fail to read what I stated.
Name another country that could fight wars on multiple fronts. Hell name two countries whose combined militaries could do it. The US was able to fight Afghanistan, Iraq, and still found time to pound Libya, and Syria to a pulp. We have to be able to fight anyone, anywhere, at anytime; even if we are already engaged in multiple conflicts. That costs money. Now if NATO becomes a reliable fighting force w/o the US; then we can scale back military expenditure.
Either that or no budget and just do continuing resolutions at prior years spending levels for several years running. If they don’t agree to prior year levels shut it down and except for the military and social security/Medicare be at prior year spending when a deal is reached minus time of the shutdown which including congressional salaries is forever unspent.