House Republicans to vote on plan to raise debt ceiling

House Republicans are set to hold a key vote on the debt ceiling that could have wide-ranging implications for the national and global economy. NBC News’ Julie Tsirkin explains what to expect from the vote on the House floor and what President Biden is saying about House Speaker Kevin McCarthy’s plan. 

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[cypressbutane]

What happens in the real world if you don't pay your bills and your actions threaten the livelihood of others.

[chrispswann]

What's the point of having a debt ceiling if anytime you reach it you just vote to increase it?

[Sisyphean]

Us government keeps raising debt ceiling like a teenager with a credit card! Eventually you’ll have to pay up or file bankruptcy

[rainbow]

Good for the eight who are against this outcry.

[aarone]

Here's an idea you (G)reatly (O)ver (P)aid;

PAY DOWN THE DEBT! Like President Clinton was doing!

Of course he had to have a stand-off with the GOP who fought him solely on that they didn't want the record to show a Democrat reconciled the books and put the country on the financially responsible path!

[seventhcompactor]

It will fail

We must cut spending, and cut taxes

[jewels]

The protest that will follow even bigger than what happened in France.

[bulkierwriter]

If we default or this bill passes McCarthy will be my first one.

[ElSantoLuchador]

If we reduced the federal budget 10% across the board it wouldn't be political, and then if we also did a flat tax of 20% with absolutely no exceptions or loopholes we'd be just fine. The problem is everything is political now, and billionaires and corporations, who have a lot of, uh, "influence" in D.C. would lose it if they actually had to start paying taxes. My plan is far to simple for reality.

[gai_ninja]

Duh! No matter the party will raise the ceilings 😂

[Billy-bhtr]

I don't put much stock in what they pass. Bills they passed didn't even get out of the house. Just my Opinion Thanks.

[diligentmindz]

…..with Maria Bartiromo!? It’s hard to know which one of them has the worse taste in partners!

[zuzauramek]

The poor will be poorer and the rich will be richer....

[curtisleeyork]

Biden could have done this when Pelosi was in charge. The fact that he waited till McCarthy shows he either WANTED this debate OR he was too dumb. Either is a bad answer. Perhaps his age is getting to him.

[agwraith]

Shut it all down maybe it will wake Sleepy Joe up

[cypressbutane]

Would McCarthy support American citizens refusing to pay credit card bills and student loans until Wall Street and Major Banks agreed to conditions and terms set by the people? I'll take my answer off the air.

[timshumaker]

Let it default ...they was alot of 1st time things done in this administration... if dem don't sit down and talks....joe bidin is a joke

[emal]

We need to change focus from a consumer to manufacturer Nation. The vacations over. China/Brazil/Russia Are going to do their own thing at our expense, while everything about the American economy say's that they are smart in doing so. So We need to do the same. We need to focus on manual labor becoming middle class instead of entry level. We need to replace Walmart's and Targets with Factories. Make America Great Again, just like the 50's. Everybody works. We focus on funding Healthcare for all, Retirement for all and more than 50% of trade within our border. Do whatever it takes to increase the cash flow between citizens.

[marroquinjona]

Says safety and health still does not ban ARs

[silver]

Instead of raising the debt ceiling,
A better strategy would be;
Take a honest look at how waseful spending had gotten the Nation into a 32 trillion dollars deficit.

Hindsight is 2020

Suggestions for ways to raise revenue:
1. A billionaires tax increase, based upon the gross income.
2. Eliminate foundations tax credits. If these foundations are charitable, why give charitable tax credit?

Fair Taxes:
In the 1970s personal income above $32, 000. that was not invested in real estate property, stocks investment were penalized in the form of higher taxes.
Certainly today $32, 00 in below the property line . However that is an old model.

Monopoly Taxes or Forced Divestment:
What the Congress should due is implement huge tax penalty for businesses such as Amazon, Walmart, Facebook, Coke Cola, Wells Fargo Bank and other large behemoths for monopolizing the consumer sector.

This would encourage small businesses investments.
And give the government an increase tax bases.
These monopolies are destructive to capitalism.
Example:
Coke Cola brought Geyser/ Vitamins Water for four hundred million dollars, because the Coke brand was losing revenue, due to the excellence product of Geyser/Vitamins Water; Coke then brought the brand and diluted the quality and ran the Geyser/Vitamins Water brand into the ground.

Geyser was a small startup and was unable to repel Coke. The consumers lost.

These monopolies are the prime reason for the erosion of the brick and mortar stores.
In the last twenty to forty years our once stable brick and mortar stores were lost as the backbone of Main Street in every town and city, also the bricj and mortar businesses gave stabilty the towns and cities.
And provided prosperity to the Nation and gave the governments both local; Region and Federal a healthy tax base
.
The Congress would be wise first look at how the riches government has gotten the people's government into a 32 trillion dollars deficit, before raising the debt ceiling.

When the government does not look back to see if the government is following its manifesto, and correct itself back to prosperity as in The Preamble, it is not following the recipe.

Not a scientist nor economist, it just common sense:

Hindsight is 2010
Godspeed.