Trump Sides with Dems on Raising the Debt Ceiling
By: Stacy Omosa
In a shocking turn of events, President Donald Trump supported Democrat’s proposal for disaster relief and debt ceiling raise. In case you missed our piece on the debt ceiling, here are some essential things to know:
a legal cap on how much the U.S. government is allowed to borrow
According to the Washington Post, “the Treasury Department will soon run out of money to pay its bills, triggering a first-in-modern-U.S.-history default that threatens to turn the world economy on its head. A default would crack the world’s faith in the United States’ ability to pay its bills and repay its loans, and that faith serves as the underpinning of the entire global financial system.”
The floating estimate is that the Congress has until October 2nd to figure out how to fund the government, before the government ends up #broke, and won’t have sufficient funds to pay all bills due that day.
If there is no solution to fund the government, a total and complete government shutdown must occur.
Republicans in Congress did not agree on disaster relief and wanted to raise the debt ceiling for the next 18 months. The Republican decision was backed by Trump’s own Treasury Secretary Steven Mnunchin, but Democrats were not having any it.
The decision shocked Majority Leader Mitch McConnell and Speaker of the House Paul Ryan, as they control the House, Senate and the White House, yet their president chose the opposing party’s side. Reportedly, McConnell and Ryan “were blindsided, “according to CNN.
On Air Force One, President Trump had only good things to say about Schumer and Pelosi, despite previous attacks the President has said about them. He said,” We discussed that also today, and Chuck and Nancy would like to see something happen, and so do I. And I said if we can get something to happen, we're going to sign it and we're going to make a lot of happy people."
Why did the President not side with his party? A reason could be that the Democrat’s plan killed two birds with one stone to make way for tax reform to be on the legislative agenda faster. Another reason would be that President Trump sided with Democrats to spite Mitch McConnell and Paul Ryan. Still, the GOP and the White House do not have the best of relationships. With repeal and replace an utter failure and no border wall, a lot of blame has been placed on the GOP from the White House; which the GOP is not happy about.
Either way, Hurricane victims in Texas and Florida will receive government assistance and government will continue to function for the next three months solely from the hard work of the Democrats.