Monday, May 29, 2023

WTF Happened? 

gave everything away, this is leadership?

The deal scraps $131 billion in cuts to return bureaucracy to pre-COVID levels in favor of keeping spending at the 2023 Omnibus spending bill. 

Work requirements are abandoned for Medicaid. Biden’s “Inflation Reduction Act,” which Goldman Sachs says costs $1.2 trillion, is retained. 

The REINS Act is abandoned. 

Biden’s unlawful student loan bailout is punted back to the courts. 

The IRS keeps its 87,000 new agents. You’ll hear about the $2 billion cut from the IRS this year, but that is from their proposed budget increase. It doesn’t cut that agency. 

The only bright light is that the deal claws back $29 billion in unspent COVID-19 baksheesh. 

Also, note that the two-year deal takes the debt ceiling off the table during an election year.

The debt ceiling has been eliminated for the next 19 months! During that time, the lame duck Biden is going to spend it all. Be it welfare, military, bank bailouts, whatever.  The Republicans got played again, by selecting a leader that could become compromised.  

The effect of lifting the debt ceiling is going to be inflationary (on steroids). If you are on a fixed income or a pension, it's about to be diluted as the dollar will soon be worthless.


1 comment:

  1. Anonymous5/29/2023

    So why are the republicans claiming this is a big win,,,its more of a big wiener