House Republicans are moving forward with plans to raise the nation’s debt ceiling by $4 trillion as part of a larger plan to advance President Trump’s tax agenda.
House Republicans are moving forward with plans to raise the nation’s debt ceiling by $4 trillion as part of a larger plan to advance President Trump’s tax agenda.
Well yes, it is a very bad idea, since it’s redundant. When a funding bill is passed, the government is committing to funding that bill. If new revenue doesn’t cover it, they’ve incurred debt. The analysis is available before they vote. Having a separate vote on the debt is just another way that legislative rules enable inaction. It gives legislators a way to say they’ve voted for something even when they didn’t vote to raise the debt ceiling to pay for it. It’s irrational. Private-sector budgeting doesn’t operate this way, neither does public-sector funding in other developed countries.
How is it redundant?
Great, the government is committed to funding the bill, then they should increase taxes to fund the bill.
We should only be incurring debt in specific situations where there is a long run value add. I’m not saying we should be cutting spending at all, but we should be funding our spending by increasing taxes on corporations.
I don’t see the issue with having a separate vote in these situations which should be uncommon, where you are not able to fund the spending because it’s for one of the specific costs that add values to our society.
I agree that private sector budgeting doesn’t operate in the same way as public budgeting, but at a certain point in future it will start chipping at the value of the dollar if our nation is not able to pay off its interest on the debt. My point is that we should be taxing corporations more to fund the spending.
Edit: I don’t see what’s controversial about this take, what’s wrong with just funding the bill?