This resolves as Yes if, before March 17, 2025, Eastern Time, the United States enacts a law that increases the statutory debt limit, suspends it for any period of time, or abolishes it.
1,000
3.00https://x.com/RepThomasMassie/status/1895457562637795516
The GOP Budget Resolution that passed the House this week increases the debt limit from $36 trillion to $40 trillion, and spends enough $ to increase in the debt from $36 trillion to $56 trillion over the next 10 years. But yay for tax cuts! I’m the only Republican who voted no.
https://www.brownwoodnews.com/2025/02/28/the-truth-will-set-you-free-u-s-senate-to-receive-gop-house-budget-resolution/
Earlier this week, the House of Representatives passed a federal budget resolution constructed by GOP representatives on a 217-215 majority. All Democrats and one Republican voted in opposition. Representatives strictly crafted an outlined resolution, they did NOT vote on budget legislation. The House resolution merely suggests what the majority of representatives believe ought to be considered for the federal budget. The Senate will soon take the resolution and deliberate what sort of detailed plan ought to be voted upon to become the established federal budget for the next fiscal year (FY). A new spending bill is needed before March 14th to avoid a government shutdown.
Spending bill will pass as soon as they can legislate it, margins in the house are to thin to wait. Also,
"By using the partisan budget reconciliation process, the GOP would deprive Democrats of any ability to use the debt ceiling deadline to extract concessions. Bills passed with this process cannot be filibustered in the Senate, effectively allowing passage by a simple majority rather than the usual 60 votes needed to end debate." https://www.investmentnews.com/tax/house-gop-takes-first-step-toward-tax-cuts-debt-limit-increase/259305
It looks like the date when the government runs out of money is not until June. So this seems unlikely to me. They like to wait until the last minute.
@SemioticRivalry this is an administration that just doesn’t care about the status quo and what has been. They do as they please, for no other reason than they can, and the dems just don’t want the country to collapse so of course they will support an extension.
@traders this market just spiked to 80%+, I would love to know the rationale from any Yes buyers, or was there some news?
@ismellpillows no, it just happens that the debt ceiling always gets raised. The scenario in which it doesn’t would probably mean the USA has already collapsed.