Republicans Threaten to Tank the US and World Economies

Thursday, January 19, 2023

Treasury Secretary Janet Yellen has warned that the debt limit is looming, with the US projected to officially reach the statutory limit for borrowing on January 19.

Posted by jpw at 08:31 PM | 29 COMMENTS | permalink | Comment on This Entry |

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Republicans Threaten to Tank the US and World Economies

Has been tried before - it's become a less and less powerful "nuclear weapon" negotiating tactic for GOP.

First, the Treasury and the Fed come up with "extraordinary measures," then Executive starts shutting down GOP-favored programs and departments / agencies, then we get to breathless media reminding us all about "11th hour"... and then "compromise" is reached and debt limit is raised or CR is agreed to for some period of time... rinse and repeat.

Yawn...
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#1 | Posted by CutiePie at 2023-01-19 10:18 PM | Reply | Funny: 1 | Newsworthy 1

Making voters afraid with horrific media narratives is Job One for Republicans.

People who are afraid don't vote, or they vote for the authoritarian figure who promises to "protect" them from boogeymen like immigrants, women, gays, and blacks.

Oh, and libs. "Owning" libs is their only strategery.

#2 | Posted by Corky at 2023-01-20 02:02 AM | Reply | Funny: 1 | Newsworthy 1

Biden and the democrats have already tanked the economy.Spending like crazy is our causes inflation.

#3 | Posted by NewOrleans at 2023-01-20 02:45 AM | Reply | Funny: 6 | Newsworthy 1

Pretty sure the newly elected Trumpublicans haven't a clue why this matters.

#4 | Posted by ClownShack at 2023-01-20 03:35 AM | Reply | Newsworthy 5

Kevin and the GOP Klutzes in Congress all appear to have read "The Art of The Deal" and having absorbed its drivel think they can 'negotiate' with Diamond Joe and the Dems. Of course, they are trying to re-negotiate terms which they agreed to just a few months ago in the most recent omnibus spending bill. Were they alive today many old-style Repubs would thrash the pack of hyenas now found on the House floor for declaring a willingness to cut defense (pronounced: jobs bill) spending, make cuts to Social Security and Medicare (also known as a good way to get shot by Grampy) and put the US economy into a recession akin to the worst we have seen since 1929-32.

I'll wager that a discharge petition will appear on Kevin's desk soon enough, signed by al the Dems and enough GOPers to move the matter along to the Senate, where much cooler heads will prevail...

#6 | Posted by catdog at 2023-01-20 09:17 AM | Reply

Biden and the democrats have already tanked the economy.Spending like crazy is our causes inflation.

#3 | POSTED BY NEWORLEANS

And Trump's more prolific spending didn't effect anything?

#7 | Posted by jpw at 2023-01-20 09:23 AM | Reply

And Trump's more prolific spending didn't effect anything?

#7 | POSTED BY JPW AT 2023-01-20 09:23 AM | REPLY

And how much of that spending was to cover plandemic costs of handing out free money to every Tom, Dick and Harry? And how many Democrats opposed it?

Create a boogieman, rattle the herd and offer a solution. Same as it ever was.

#8 | Posted by lfthndthrds at 2023-01-20 10:05 AM | Reply | Funny: 1

get ready for 5,000 more articles like this.

#9 | Posted by eberly at 2023-01-20 10:17 AM | Reply

"And how much of that spending was ... "

It was a global pandemic -----.

How much was given to the wealthy in the form of a tax cut nobody needed with no way to pay for it ?

#10 | Posted by donnerboy at 2023-01-20 10:34 AM | Reply

An economic crash won't bother rich people and will make everyone else more subservient. So of course Rs want to cause a crash.

hartmannreport.com

#11 | Posted by SomebodyElse at 2023-01-20 11:38 AM | Reply

#11

Crashes are Features, not Bugs, in Trickle Down (Not!) economics.

#12 | Posted by Corky at 2023-01-20 12:24 PM | Reply

"Republicans Threaten to Tank the US and World Economies"

The Solomon Pena Party.

#13 | Posted by Danforth at 2023-01-20 12:31 PM | Reply

#8 do you have any idea or bottom of the barrel stupid you are to use "Plandemic"?

#14 | Posted by jpw at 2023-01-20 01:33 PM | Reply | Newsworthy 1

#14 Stupidity is a virtue with people like LftHndThrds.

I doubt he can solve a quadratic equation.

#15 | Posted by snoofy at 2023-01-20 01:36 PM | Reply

"Plandemic"

Spotting the idiots is always easier when they out themselves.

See also Benghazi, Vince Foster, Stolen Election...

#16 | Posted by Danforth at 2023-01-20 01:46 PM | Reply | Newsworthy 1

how much of that spending was to cover plandemic costs of handing out free money to every Tom, Dick and Harry?
#8 | POSTED BY LFTHNDTURDS

Oh man. Remember the shht eating grin on Trump's face when he was holding the Trump signed stimulus check.

The TrumpVirus is Trump's greatest gift to America and will cement his lasting legacy in American history.

All he had to do was defund the CDC and tell his supporters how wonderful the TrumpVirus was for their health.

"Grateful, thankful and blessed!"

#17 | Posted by ClownShack at 2023-01-20 02:41 PM | Reply

Biden and the democrats have already tanked the economy.Spending like crazy is our causes inflation.

#3 | Posted by NewOrleans

You should google this thing called covid.

Biden and the democrats are the reason inflation in the USA is so much better than the rest of the world. You should thank them.

#18 | Posted by SpeakSoftly at 2023-01-20 03:02 PM | Reply

And how much of that spending was to cover plandemic costs of handing out free money to every Tom, Dick and Harry? And how many Democrats opposed it?

#8 | Posted by lfthndthrds

Handing out money to the rich is just fine. But it's when the non rich get some too that it becomes unacceptable.

#19 | Posted by SpeakSoftly at 2023-01-20 03:03 PM | Reply

"Let's start calling the debt ceiling exactly what it is: paying Donald Trump's bills. It's not allowing for new spending, it's paying for much of what Trump and Speaker McCarthy recently spent."

Rep. Eric Swalwell

#20 | Posted by Gal_Tuesday at 2023-01-20 04:07 PM | Reply

Republicans Threaten to Tank the US and World Economies -MSN

^
Republicans: "Hold it! Next man makes a move, the economy gets it!"
Other Republicans: "Hold it, men. He's not bluffing."
Other Republicans: "Listen to him, men. He's just crazy enough to do it!"

#24 | Posted by snoofy at 2023-01-20 04:46 PM | Reply

"Let's start calling the debt ceiling exactly what it is: paying Donald Trump's bills. It's not allowing for new spending, it's paying for much of what Trump and Speaker McCarthy recently spent."

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It'll Weigh
Down the Economy for Years

The "King of Debt" promised to reduce the national debt--then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president.
Jan. 14, 2021

President Donald Trump promised to reduce the national debt but instead increased it. It is now at its highest level relative to the U.S. economy since the end of World War II.

www.propublica.org

#25 | Posted by Gal_Tuesday at 2023-01-20 07:52 PM | Reply | Newsworthy 1

Trump f***** up the economy like nobody since Herbert Hoover.

#26 | Posted by Tor at 2023-01-20 08:43 PM | Reply

No matter what you hear, this is nothing but political theater. In the end they will approve the budget. So gather your popcorn and sit down to watch the show.

#27 | Posted by BBQ at 2023-01-21 12:10 AM | Reply

Were control of the GOP not increasingly shifting towards extreme fringe members I would agree.

It's not a sound approach to lean on past conditions that don't exist anymore as a rationale to ignore this.

#28 | Posted by jpw at 2023-01-21 10:16 AM | Reply

There you go comrades. There you go! You're again at the mercy of the USA bourgeoisie and Plutocrat capitalists. I've lived for decades in this USA hell hole, and have put up with endless ""Trickle-down!" and "One up on you!". $31 trillion translates to $31,000 billions. Why? Because your capitalist rich refuse to pay their fair share of taxes while financing all manner of foreign wars. And if you complain? Well you get the Holocaust thrown in your face which is now every week on Yahoo, PBS, and other places. Get set for interruptions and even higher inflation as millions of immigrants come across your borders. Why you are not special. You are as low on the financial totem pole as these immigrants. Think about it. Think!

#29 | Posted by wolfdog at 2023-01-21 01:26 PM | Reply