Looks like we might just get to do this debt limit road show again for the holidays.
https://twitter.com/elwasson/status/1445848709170974722?s=20
I'm already preparing mentally for the Jan. 1 Paygo cliff, another short term debt cliff closer to the election, and so on and so forth.
If there is one thing Congress is really, really good at, it's punting right before a recess.
I still think you could solve the debt limit issue in reconciliation by including legislation requiring the minting of 5 trillion dollar coins to buy back the $5T in bonds already on the Fed's balance sheet.
Not that they *would*, but...
Not that they *would*, but...
Folks may forget, but it was a Pelosi/Schumer/Trump deal in 2017 that *ALSO* extended the debt limit to the holidays. Rs were unhappy it wasn't longer.
It got resolved, Dems didn't hold the debt hostage to tax reconciliation, Dems didn't force a Paygo sequester, life went on.
It got resolved, Dems didn't hold the debt hostage to tax reconciliation, Dems didn't force a Paygo sequester, life went on.
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