The massive federal government spending under Joe Biden over the last few years has pushed the nation’s debt to its legal ceiling, and the process usually is for Congress raise that limit.
Which the House GOP already has done.
But Biden, insisting that he dictate the exact terms of that legislation, says he won’t allow any spending reductions to be attached.
And that has been setting up warnings from a multitude of officials about a possible default by the federal government.
That deadline, in recent weeks, has been said to be early June.
But now that’s being changed.
CNBC reported, “The U.S. can avoid a default through July if the Treasury Department can pull in enough revenue in June.”
The CBO said Friday tax revenues and other procedures during June “will probably allow the government to continue financing operations through at least the end of July.”
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A report at PJMedia said the CBO explained, “It’s just a guessing game in the end. The CBO has no idea how much revenue the government is going to take in between now and the beginning of June.”
The report said, “Biden has finally — reluctantly — agreed to sit down with Republicans and negotiate a deal to cut spending in return for raising the debt limit. This is something he said he would never, ever do, and his rabid radical base is already screaming that they’ve been betrayed.”
Biden and McCarthy already have met once on the dispute, and were scheduled to meet again only it was delayed until next week.
PJMedia said, “McCarthy told reporters at the Capitol that the delay was not a sign of trouble in the talks but that he believed the staff negotiators who had been meeting this week needed to continue to talk before the principals met again.”
The report continued, “White House officials acknowledge that they must accept some spending cuts or strict caps on future spending if they are to strike a deal, two sources said, while insisting they must preserve Biden’s signature climate legislation that passed along party lines last year.”
It was last month that the House GOP took action to address the developing problem – and solve it by raising the ceiling.
They also capped future spending.
The report explained, “Republicans will probably settle for some caps on future spending over 2-10 years and reduced incentives for renewables. If that doesn’t sound like much, it isn’t. But it’s all Republicans are going to get from a president who spent more than $5 trillion in unnecessary spending and can’t face the consequences of his policies.”
IMPORTANT NOTE: Although millions of American parents send their precious children off to public school every day, imagining their kids’ days will be filled with reading, writing, arithmetic, science, history, sports and music, they’re not only in for a shock – but for total BETRAYAL. Today’s “public” (government) schools have become far-left ideological, political and religious indoctrination centers aimed at reprogramming and transforming America’s children.
Kids are being taught to HATE their own country and to see themselves and their parents as racists – or victims of racists. They are sexualized and corrupted, and many are groomed into the dark LGBT world, with almost 6,000 schools prohibiting parents from even hearing about their child’s transgender “transition.” In between all the far-left indoctrination and sexual corruption, teachers take time to scare children to death about the near-term end of life on earth due to “catastrophic climate change.” Another lie. But it’s all classic Marxism/communism, with even the “3 R’s” – reading, writing and arithmetic – now being corrupted with “woke,” “1984”-style madness.
Perhaps never has the true threat of today’s U.S. public school system been exposed as in the sensational April issue of WND’s critically acclaimed monthly Whistleblower magazine, titled “THE GREATEST BETRAYAL: How Marxism and madness have taken over America’s public school system.” Whistleblower is available in both the popular print edition and a state-of-the-art digital version, either single issues or discounted annual subscriptions.
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This article was originally published by the WND News Center.
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