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Congress Is Already Violating the Debt Deal Budget Caps

We wish we could blame this on Biden and Bernie Sanders, but Republicans are in on this scam. Remember: under the Debt Limit Deal Between Biden and House Speaker Kevin McCarthy we were supposed to cap spending at 2022 levels. But a new Heritage Foundation fiscal report finds that just a few months after the deal was signed, both parties are finding stealth ways around the limits:

      1. The Fiscal Responsibility Act (FRA) features potential “budgetary adjustments” that could raise FY 2024 spending limits $42 billion above the FY 2023 level.
      2. The FRA could classify billions of dollars of non-defense discretionary spending as “emergency” spending that is not subject to caps.
      3. After accounting for adjustments, discretionary spending in the FRA would never fall below FY 2023 levels.

We recommend this video, which explains the budget hocus pocus.

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