{"id":503107,"date":"2022-10-23T13:00:00","date_gmt":"2022-10-23T10:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/debt-ceiling-showdowns-are-ready-for-comeback-with-gop-majority\/"},"modified":"2022-10-23T13:00:00","modified_gmt":"2022-10-23T10:00:00","slug":"debt-ceiling-showdowns-are-ready-for-comeback-with-gop-majority","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/debt-ceiling-showdowns-are-ready-for-comeback-with-gop-majority\/","title":{"rendered":"#Debt ceiling showdowns are ready for comeback with GOP majority"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2eaa1f59102\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2eaa1f59102\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/debt-ceiling-showdowns-are-ready-for-comeback-with-gop-majority\/#Debt_ceiling_showdowns_are_ready_for_comeback_with_GOP_majority\" >Debt ceiling showdowns are ready for comeback with GOP majority<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Debt_ceiling_showdowns_are_ready_for_comeback_with_GOP_majority\"><\/span>Debt ceiling showdowns are ready for comeback with GOP majority<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2022\/10\/mccarthykevin_092922gn10_w-1.jpg?w=900\" \/><\/p>\n<div>\n<p>House Republicans are looking to use a vote on raising the debt ceiling, a must-pass measure to avoid stark economic consequences and damaging credit of the United States, to get concessions on spending cuts if they win control of the chamber in the midterm elections.\u00a0<\/p>\n<p>The federal government is expected to reach the $31.4 trillion debt limit, last increased in 2021, sometime in 2023. House Minority Leader Kevin McCarthy (R-Calif.), who is likely to become Speaker should the GOP take the lower chamber in November, is preparing for a battle with the Biden administration over curbing spending as a condition for\u00a0a debt ceiling increase.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\">\n<\/aside>\n<p>\u201cWe\u2019ll provide you more money, but you got to change your current behavior. We\u2019re not just going to keep lifting your credit card limit, right?\u201d McCarthy told Punchbowl <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> in an interview last week.\u00a0<\/p>\n<p>Republicans have long sought spending concessions in exchange for voting to raise the debt limit or tried to force Democrats to raise the limit without help from the GOP. But Democrats have criticized the GOP for these efforts, noting that they voted to raise the debt ceiling under former President Trump.\u00a0<\/p>\n<p>While the U.S. has never defaulted on its obligations, it is a scenario that economists say could result in economic turmoil. But the standoffs alone have triggered nervousness on Wall Street and in the business community. During\u00a0a debt ceiling standoff in 2011, credit rating agency S&amp;P downgraded its rating for the U.S. for the first time.\u00a0<\/p>\n<p>\u201cI\u2019m pretty sure Republican voters don\u2019t want their new majority to be shy about using leverage against Democrats,\u201d said Rep. Dan Bishop (R-N.C.), a member of the hard-line conservative House Freedom Caucus.\u00a0<\/p>\n<p>That sentiment extends across the House GOP conference.\u00a0<\/p>\n<p>\u201cWe will make sure the federal government pays its debts, but we will use the debt ceiling as it was intended \u2014 a lever to address our deficit and debt,\u201d said Rep. Adrian Smith (R-Neb.).\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr2_ab\">\n<\/aside>\n<p>Rep. Jason Smith (R-Mo.), ranking member on the House Budget Committee, noted figures from the Congressional Budget Office showing spending growing by $10 trillion during Biden\u2019s presidency. An increase to the debt limit has been tied to demands to cut spending in Washington in the past, he said.\u00a0<\/p>\n<p>\u201cThe American people expect Congress to use every tool at its disposal to combat rising prices, to strengthen our economy, to secure our border, to bring down the cost of energy, to fix our supply chains, and to right size the federal government, and the debt ceiling absolutely is one of those tools,\u201d Smith said in a statement.\u00a0\u00a0<\/p>\n<p>Both Adrian and Jason Smith are vying to lead Republicans on the powerful Ways and Means Committee next year.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr3_ab\">\n<\/aside>\n<p>Exactly what spending Republicans would put on the chopping block in a future debt ceiling fight is not set in stone, but likely targets include spending\u00a0key to President Biden\u2019s domestic agenda passed in the last year.\u00a0<\/p>\n<p>Bishop pointed to reversing Biden\u2019s cancellation of student debt, cutting a boost to IRS enforcement funding, and a $20,600 State Department grant to a cultural center in Ecuador that would\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.foxnews.com\/politics\/state-department-funding-drag-theater-performances-ecuador-promote-diversity-inclusion\">reporte<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.foxnews.com\/politics\/state-department-funding-drag-theater-performances-ecuador-promote-diversity-inclusion\">dly\u00a0fund a drag show performance<\/a>.\u00a0<\/p>\n<p>Democrats in midterm campaign messaging have warned that Republicans would use a debt ceiling fight\u00a0to cut <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security and Medicare. They <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/about.bgov.com\/news\/entitlement-spending-cap-plans-linked-by-gop-to-debt-limit-deal\/\">point to\u00a0comments\u00a0from some members<\/a> of the GOP and proposals <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/banks.house.gov\/uploadedfiles\/rsc_2023_budget_final_version.pdf\">in a\u00a0model federal budget\u00a0from the Republican Study Committee<\/a>, the largest conservative caucus in the House, that included gradually raising the Social Security eligibility age.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr4_ab\">\n<\/aside>\n<p>Biden repeated those warnings on Friday.\u00a0\u00a0<\/p>\n<p>\u201cI will not yield,\u201d Biden said, on a future debt limit fight. \u201cI will not cut Social Security. I will not cut Medicare.\u201d\u00a0<\/p>\n<p>When asked whether entitlement programs would be part of debt ceiling negotiations, McCarthy told Punchbowl News that he would not \u201cpredetermine\u201d anything. But the next day on MSNBC, McCarthy <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to walk back his comments linking entitlements to entitlement reform.\u00a0\u00a0<\/p>\n<p>\u201cThe only people talking about cutting Social Security and Medicare right now are the Democrats using it as a scare tactic because they can\u2019t defend their failed economic policies,\u201d said Rep. Adrian Smith.\u00a0<\/p>\n<p>Rep. Jim Banks (R-Ind.), chairman of the Republican Study Committee and a contender for House GOP whip if Republicans win, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cbsnews.com\/video\/cbs-news-election-briefing-full-event-what-to-expect-from-the-midterms\/#x\">said at a\u00a0CB<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cbsnews.com\/video\/cbs-news-election-briefing-full-event-what-to-expect-from-the-midterms\/#x\">S News event<\/a>\u00a0on Wednesday that the debt ceiling could be used to call for spending caps, balanced budgets, or to cut discretionary spending \u2014 actions that would not include Social Security and Medicare.\u00a0<\/p>\n<p>In the midst of a dispute over raising the debt ceiling last year, Treasury Secretary Janet Yellen suggested abolishing the federal debt limit, calling it\u00a0\u201cvery destructive\u201d\u00a0to the credit of the U.S.\u00a0<\/p>\n<p>Rep. Brendan Boyle (D-Pa.) led a letter to House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Charles Schumer (D-N.Y.) asking for action on legislation to do just that, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/punchbowl.news\/debt-limit-letter\/?utm_source=Sailthru&amp;utm_medium=email&amp;utm_campaign=10\/21\/22%20%20Punchbowl%20News%20AM&amp;utm_term=Punchbowl%20AM%20and%20Active%20Subscribers%20from%20Memberful%20Combined\">Punchbowl News\u00a0reported\u00a0on Friday<\/a>.\u00a0<\/p>\n<p>But Biden on Friday said it would be \u201cirresponsible\u201d to eliminate the debt ceiling.\u00a0<\/p>\n<p>Democrats could avoid a debt limit standoff by increasing the limit after the midterms and before the end of the year. With a looming government funding deadline in mid-December, however, Democratic leaders may decide there isn\u2019t enough time on the schedule for an early debt ceiling fight.\u00a0\n<\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thehill.com\/blogs\/blog-briefing-room\/news\/3699082-debt-ceiling-showdowns-are-ready-for-comeback-with-gop-majority\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Debt ceiling showdowns are ready for comeback with GOP majority House Republicans are looking to use a vote on raising the debt ceiling, a must-pass measure to avoid stark economic consequences and damaging credit of the United States, to get concessions on spending cuts if they win control of the chamber in the midterm elections.\u00a0&#8230;<\/p>\n","protected":false},"author":1,"featured_media":503108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2022\/10\/mccarthykevin_092922gn10_w-1.jpg?w=1280","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[134468,134344,134469,30889,134417,134418,134470,116734,134471,134472,134473,134447,76816,48577,70865,134474,134475,73434,134476,35813,115,70289,4965,134477],"class_list":["post-503107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-2022-midterm-elections","tag-administration","tag-adrian-smith","tag-biden","tag-blog-briefing-room","tag-congress-blog","tag-dan-bishop","tag-debt-ceiling","tag-debt-ceiling-showdown","tag-default","tag-democratsspending","tag-energy-and-environment","tag-federal-budget","tag-gop","tag-government-spending","tag-inflation-reduction-act","tag-ira","tag-irs","tag-jason-smith","tag-kevin-mccarthy","tag-news","tag-senate","tag-technology","tag-us-credit"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/503107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=503107"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/503107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/503108"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=503107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=503107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=503107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}