As details emerge about the debt ceiling deal reached between Speaker of the House Kevin McCarthy and the Biden-Harris regime, the hopes of sensible fiscal policy flies out the window. Most conservatives who have been paying attention knew we were going to get hosed, but this is even worse than expected.
Here’s a breakdown by Congressman Chip Roy with some of the main points of idiocy:
Turns out this chart is basically accurate. Will fill it in tomorrow more fully… but to best of our current understanding with NO text… 1) Debt ceiling set til 1/1/2025 – which means unknown debt increase – but $4 Trillion is a good estimate…
2) Debt Ceiling “Deal” totally scraps the $131BB in cuts to return bureaucracy to pre-COVID levels in favor of what appears to be effectively flat spending (down or up a little) – at the bloated 2023 Omnibus spending level, jammed through in a rush in December…
…2) Debt Ceiling “Deal” totally scraps the $131BB in cuts to return bureaucracy to pre-COVID levels in favor of what appears to be effectively flat spending (down or up a little) – at the bloated 2023 Omnibus spending level, jammed through in a rush in December… (2/10)
— Chip Roy (@chiproytx) May 28, 2023
3) Debt Ceiling “Deal” abandons work requirements for Medicaid
4) Deal abandons our repeal of the so-called Inflation Reduction Act tax-credit crony giveaways – which Goldman Sachs says costs $1.2 Trillion.
4) Deal abandons our repeal of the so-called Inflation Reduction Act tax-credit crony giveaways – which Goldman Sachs says costs $1.2 Trillion. (4/10)
— Chip Roy (@chiproytx) May 28, 2023
…The deal abandons inclusion of the very powerful anti-regulatory REINS Act (which we just passed through House Judiciary as well) in favor of a form of administrative pay-go which is relatively toothless and/or able to be waived…
…The deal abandons full repeal of Biden’s unlawful student loan bailouts – forcing only a re-start to a small number while leaving in place $400 billion+ in loan forgiveness and punting our constitutional duty to the Court…
…The deal abandons full repeal of Biden’s unlawful student loan bailouts – forcing only a re-start to a small number while leaving in place $400 billion+ in loan forgiveness and punting our constitutional duty to the Court… (6/10)
— Chip Roy (@chiproytx) May 28, 2023
…The deal keeps full $80BB expansion of the IRS and the 87,000 employees it funds to target poor/minority 3-5x more – except for $1.9BB for this year…
…The deal does claw back $29BB remaining of the COVID unobligated funding which is used as part of the budget games…
…The deal does claw back $29BB remaining of the COVID unobligated funding which is used as part of the budget games… (8/10)
— Chip Roy (@chiproytx) May 28, 2023
…Does nothing for the border. Does nothing regarding pistol braces. Does nothing regarding Presidential overreach. And in many ways kills our leverage to get them through the appropriations process…
…Finally, again… this deal raises our debt ceiling an unlimited amount that is likely close to or over $4 Trillion.
…Finally, again… this deal raises our debt ceiling an unlimited amount that is likely close to or over $4 Trillion. #DebtCeiling (10/10)
— Chip Roy (@chiproytx) May 28, 2023
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