Granted the sources for this are WaPo, Mnuchin, Schumer, and Piglosi ... but WTF ???
Treasury Secretary Steven Mnuchin has suggested scrapping the existing debt-limit process and replacing it with one that automatically lifts the borrowing limit every time Congress appropriates future spending.
Scoot over, Venezuela - looks like our junta is bound and determined to add us to your living hell.
NO LINK BEING PROViDED - F'em and their pig owner, Bezos
On Sept. 7, a day after striking a debt ceiling and Harvey aid deal with President Trump, House Minority Leader Nancy Pelosi (D-Calif.) lauded Senate Minority Leader Charles E. Schumer (D-N.Y.) for his role in the discussion. (Reuters)
Treasury Secretary Steven Mnuchin has suggested scrapping the existing debt-limit process and replacing it with one that automatically lifts the borrowing limit every time Congress appropriates future spending.
The discussion between Trump and Schumer came during an Oval Office meeting that included other congressional leaders. At the meeting, they agreed to suspend the debt limit until Dec. 8. If Congress approves that suspension in the coming days, then they will have to revisit the matter again soon, potentially setting up another difficult vote for lawmakers.
The Treasury Department can use emergency powers to avoid defaulting on its debt, such as delaying certain payments. This means Mnuchin won't run out of cash on Dec. 9, and probably will have several more months of flexibility before the issue will have to be revisited. But Senate Democrats are hoping to coalesce around a new process for authorizing spending that takes out these frequent debt-ceiling votes by December. They would have to receive support from congressional Republicans before any idea could be authorized.
Many conservatives view regular debt-ceiling votes as an opportunity to drive their message that the country continues to rack up debt, which they consider a dangerous trend that could eventually damage the U.S. economy. The issue is also one of a handful of must-pass bills that Congress has at times used to win concessions on fiscal policy issues. Sen. Rand Paul (R-Ky.) was one of several Senate conservatives who said abandoning that power would be misguided.
"I think the debt limit should be used to try to bring to reform in Congress," Paul said Thursday. "I think the debt limit is a good vote to have."
-- Kelsey Snell contributed to this report
Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good ...
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