{"id":1943509,"date":"2023-06-03T12:26:07","date_gmt":"2023-06-03T16:26:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-eye-moves-to-scrap-debt-ceiling-as-leverage-in-spending-talks\/"},"modified":"2023-06-03T12:29:00","modified_gmt":"2023-06-03T16:29:00","slug":"democrats-eye-moves-to-scrap-debt-ceiling-as-leverage-in-spending-talks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-eye-moves-to-scrap-debt-ceiling-as-leverage-in-spending-talks\/","title":{"rendered":"Democrats consider eliminating debt ceiling as leverage in spending negotiations."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocrats-eye-moves-to-scrap-debt-ceiling-as-leverage-in-spending-talks%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1943509&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Congress Passes Fiscal Responsibility Act to Raise Debt Ceiling<\/h2>\n<blockquote><p>Now, Democrats are considering ways to eliminate the debt limit entirely from <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sen-manchin-1-5t-is-top-line-in-democrat-spending-talks\/\" title=\"Sen. Manchin: .5T is top line in Democrat spending talks\">spending talks<\/a>.<\/p><\/blockquote>\n<p>Lawmakers approved the bipartisan deal earlier this week that allows Democrats to raise the debt ceiling while approving a number of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-eye-moves-to-scrap-debt-ceiling-as-leverage-in-spending-talks\/\" title=\"Democrats consider eliminating debt ceiling as leverage in spending negotiations.\">government spending cuts proposed<\/a> by Republicans. The deal meant that neither side got all that it wanted \u2014 a result of a divided government, party leaders said.<\/p>\n<h3>Eliminating the Debt Limit<\/h3>\n<p>The legislation is prompting Democrats in both chambers to consider ways to allow the president to raise the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/get-out-of-the-way-schumer-announces-third-debt-limit-vote\/\" title=\"\u2018Get Out Of The Way\u2019: Schumer Announces Third Debt Limit Vote\">debt ceiling unilaterally<\/a> if needed in order to remove one of Republicans\u2019 largest pieces of leverage from future negotiations. <\/p>\n<p>The debt ceiling was created by Congress in 1917 as a way to eliminate the need for daily financial management. In doing so, the debt limit gives the Treasury the authority to borrow up to a set amount determined by lawmakers. But because the United States regularly reports budget deficits, that amount must be continually raised in order to issue new debt and pay off the country&#8217;s bills.<\/p>\n<h3>Protect our CREDIT Act<\/h3>\n<p>Senate Democrats introduced legislation earlier this year that would do just that. Under the Protect our CREDIT Act, the president would be required to determine the amount of debt necessary for the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-orders-l-a-to-offer-housing-to-homeless-population-on-skid-row-says-city-and-county-created-a-legacy-of-entrenched-structural-racism\/\" title=\"Judge Orders L.A. To Offer Housing To Homeless Population On Skid Row, Says City And County \u2018Created A Legacy Of Entrenched Structural Racism\u2019\">upcoming <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-cancer-charity-gave-zero-for-research-millions-spent-on-salaries-travel\/\" title=\"Biden Cancer Charity Gave \u2018Zero\u2019 For Research; Millions Spent On Salaries, Travel\">fiscal year<\/a><\/a> and propose a new debt limit based on the spending amount authorized by Congress.<\/p>\n<ul>\n<li>The legislation would raise the debt ceiling to whatever number the president proposes, unless Congress passes a joint resolution of disapproval that would require a new debt limit amount.<\/li>\n<li>If the federal debt comes within $250 billion of the proposed limit, the president would then be required to submit an explanation of what caused the additional debt and propose a new ceiling for the remainder of the fiscal year.<\/li>\n<\/ul>\n<p>A similar idea was once proposed by Senate Minority Leader Mitch McConnell (R-KY) in 2011, which was later included in the Budget Control Act of 2011. Under that system, Congress could override the president\u2019s debt ceiling increases with a resolution of disapproval \u2014 although those never garnered enough support in Congress, and the proposed increases were allowed to go into effect.<\/p>\n<h3>Reintroducing the Bill<\/h3>\n<p>Rep. Brendan Boyle (D-PA), ranking member on the House Budget Committee, said he plans to reintroduce a similar bill in the House sometime next week, according to the Wall Street Journal, citing support from several other House Democrats.<\/p>\n<p>\u201cBecause we have been fixated on this issue for months and months, we are dramatically behind on all the rest of the legislative work that Congress has to get done,\u201d he told the outlet.<\/p>\n<p>It\u2019s unclear whether such a proposal would pass through the Republican-led House, as several GOP members were adamant about keeping the debt ceiling a focal point of McCarthy and Biden\u2019s negotiations. Additionally, some Democrats have expressed support for maintaining the current debt ceiling system, arguing it helps keep the government in check.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>measures to ensure fiscal responsibility. Democrats are now exploring options to remove the debt limit from future spending negotiations.<\/p>\n","protected":false},"author":1,"featured_media":1943510,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[10142,5487,3685,11793,24112,11860,3834],"class_list":["post-1943509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-ceiling","tag-debt","tag-democrats","tag-eliminating","tag-leverage","tag-negotiations","tag-spending"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1943509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1943509"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1943509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1943510"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1943509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1943509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1943509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}