Thursday, August 24, 2017

Mitch reassures us on debt ceiling without specifics, but Washington Post mentions it in an editorial on what Trump ought to be saying

Senate Majority Leader Mitch McConnell said recently that there was “zero chance” that Congress would fail to raise the debt ceiling in time (Sept. 29). Mnuchin (who has been urged to quit by his Yale colleagues and is a valuable voice for stability) has urged a clean vote.  But it is still not clear where all the votes are and that there won’t be strings attached. The story by Damian Paletta Aug. 21 is here.

The Post mentions the debt ceiling in a well-conceived editorial this morning, Aug. 24, here
Today CNN points out that the federal government authorization to spend runs out Sept. 30.  The president has threatened a veto of future spending bills unless Congress gets started with “Build that Wall”.  Let’s hope that the politics of the Wall doesn’t lead the US to default on obligations. 

CNN says that the government will run out of money to pay its previously ratcheted up bills in early October (slightly after the original Sept. 29 date, when the fiscal year ends.) 

Quick update:

The "realDonaldTrump" tweets on the debt ceiling early this morning:

"I requested that Mitch M & Paul R tie the Debt Ceiling legislation into the popular V.A. Bill (which just passed) for easy approval. They.........didn't do it so now we have a big deal with Dems holding them up (as usual) on Debt Ceiling approval. Could have been so easy-now a mess!".

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