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Three Cheers for the McCarthy Budget/Debt Plan

Joe Biden had a teen-girl hissy fit yesterday over House Speaker Kevin McCarthy’s debt ceiling proposal. In his histrionics the president – who once promised to unite the country – again refused to negotiate on the debt ceiling, while accusing Republicans of wanting to cut taxes for the rich and cut gaping holes in the social safety net (with children going hungry, the elderly thrown out on the street, and kittens dying).

So you know McCarthy must be doing something right – and we’d say VERY right.

We haven’t always agreed with McCarthy – and we’re still angry that he allowed the GOP to bring back earmarks – but his plan is wise: it would suspend the debt ceiling for one year in exchange for common sense fiscal reforms we’ve been urging at CTUP since January.

They are:

  1.  One percent cap on domestic spending
  2.  No funding for 87,000 IRS agents
  3.  Cancel the hundreds of billions of unspent Covid money (the green new deal)
  4.  Repeal Biden student loan bailouts
  5.  Enact Reins Act requiring federal reg agencies to get congressional approval for new regulations

There’s much more to be done, but these are all popular reforms that are worth going to the mat over.

We view it as ESSENTIAL that all House Repubs – including our friends in the Freedom Caucus – unify behind this plan, pass it forthwith, and then let Chucky Schumer and Biden holler, pout, and squirm.  If they won’t agree to this debt ceiling extension – all the carnage they are falsely claiming about “defaulting on the debt” is on them.

Remember: Republicans aren’t fiscal angels by any means, but they aren’t the ones who ruinously voted to raise debt spending by $6 trillion over the last two years – they are.

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