IS DEBT EXTENSION CREATING OR AVERTING DISASTER?
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IS DEBT EXTENSION CREATING OR AVERTING DISASTER?
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The Senate has dodged a U.S. debt disaster, voting to extend the government’s borrowing authority into December and temporarily avert an unprecedented federal default…
The party-line Democratic vote of 50-48 in support of the bill to raise the government’s debt ceiling by nearly a half-trillion dollars brought…relief in Washington…However, it provides only a reprieve…Republican and Democratic lawmakers will still have to tackle their deep differences on the issue…before yearend.
That debate will take place as lawmakers also work to fund the federal government for the new fiscal year and as they keep up their bitter battling over…a bipartisan infrastructure plan with nearly $550 billion in new spending as well as a…$3.5 trillion effort focused on health, safety net programs and the environment…
“I can’t vote to raise this debt ceiling, not right now, especially given the plans at play to increase spending immediately by another $3.5 trillion,” Sen. Mike Lee of Utah said shortly before the vote.
Sen. Ted Cruz of Texas said the Democrats had been on “a path to surrender” on the process used to lift the debt cap, “and then unfortunately, yesterday, Republicans blinked.”…
Eleven Republicans voted to end debate, providing the threshold needed to move the bill to a final vote. However, no Republicans sided with Democrats in the final vote for the measure…
The House is likely to approve the measure next week…
Republican leaders worked through the day to find the 10 votes they needed from their party to advance the debt limit extension to a final vote, holding a private huddle late in the afternoon. It was a long and “spirited” discussion in the room, said Sen. Josh Hawley of Missouri…
The White House signaled Biden’s support, with principal deputy press secretary Karine Jean-Pierre saying the president would sign a bill to raise the debt limit when it passed Congress. Jabbing the Republicans, she also said, “It gives us some breathing room from the catastrophic default we were approaching because of Sen. McConnell’s decision to play politics with our economy.”…
The $480 billion increase in the debt ceiling is the level that the Treasury Department has said is needed to get safely to Dec. 3.
“I thank my Democratic colleagues for showing unity in solving this Republican-manufactured crisis,” said Senate Majority Leader Chuck Schumer of New York. “…[O]ur caucus held together and we have pulled our country back from the cliff’s edge that Republicans tried to push us over.”
McConnell saw it quite differently.
“The pathway our Democratic colleagues have accepted will spare the American people any near-term crisis, while definitively resolving the majority’s excuse that they lacked time to address the debt limit through (reconciliation),” McConnell said Thursday. “Now…They’ll have plenty of time…
On Wednesday, Biden had enlisted top business leaders to push for immediately suspending the debt limit, saying the approaching deadline created the risk of a historic default that would be like a “meteor” that could crush the U.S. economy and send waves of damage worldwide…
“It’s not right and it’s dangerous,” Biden said of the resistance by Senate Republicans…
Do you think our leaders made a wise decision? Share in the comments below! Share a prayer as well for our economy.
(Excerpt from Breitbart News. Article by Kevin Freking, Alan Fram, and Alexandra Jaffe of The Associated Press. Photo Credit: Sarah Silbiger/Getty Images).
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Dear Lord, I ask You to give our leaders wisdom and discernment regarding our economy and spending. Help us to remove the spending we do Not need. Help our leaders wake up and open their eyes to see the truth. In Jesus Precious and Holy Name, Amen.
These people continue to play with fire and don’t care about regular Americans. No matter what, they’ll have food on the table even if we default because that’s the way they have it set up. They simply don’t want to address the core problems because so many are cowards at heart. Mitch is famous for his “waffling” and needs to be replaced. We need a rabid pit bull type attitude to replace him – someone who actually will be afraid of a street fight. Lord God, raise up David’s with the wisdom of his son Solomon to take the establishment head on in D.C. We desperately need 24/7 fearless leaders Lord!! Amen.
Should have said who is NOT afraid to fight.
To answer your question, Mitch McConnell almost NEVER makes a wis decision! Thanks again to Mitch McConnell and these weak Republicans for stabbing us all in the back!! They just handed the Democrats another quick victory. Yes, it would have passed anyway, but do Republicans have to help them!??! Do these people not have a spine?? McConnell’s wifes’ parents own shipping companies as well as other interests in China! So, McConnell,and his buddies, are NEVER going to be hurt financially. They do NOT care about us or this country! It’s time we vote these people OUT!! Actually, if the voter fraud machines and people continue, they may do the job for us!!
Remember the Republicans who went along with McConnell when you vote! This IS some of THE SWAMP in Washington! The “elites” are truly running this country! However, there are still MORE of us than them! For our kids sake, it’s time we took our country back!
I wrote my two Senators a thank you for NOT voting with McConnell!!
Sorry, I meant wise, not wis.
Here is a portion of what I wrote to one of my Senators who voted to advance debate:
“I am tired of hearing that if we don’t increase the debt limit, we will default on our obligations. That is simply a lie! The following information is from usgovernmentspending.com and usgrovernmentrevenue.com. According to that site, the mandatory spending by the US Government is about $3.53T for FY22 and the estimated revenues are $3.58T. Therefore, the US Government will not default on anything. Yes, there will be many discretionary programs that will have to be suspended until a balanced budget is agreed upon and passed.
But it is time Congress and the President and all the DC swamp do what American families have to do when confronted with a loss of income or other financial problems. We figure out what is mandatory and necessary and what is discretionary. We then begin to cut the discretionary until we reach balance. Thank you for the opportunity to contact you. However, I wonder how long we citizens will have a voice in our government or even if our voice matters at all now.”
I would encourage all intercessors to write similar letters to their Representatives and Senators.
Let us pray that the citizens of this Nation take action to expose the lies that constantly flow from the establishment. I pray that our God of salvation will revive this Nation and show mercy toward us. We have turned from Him in so many ways, let us turn back to Him. I pray that justice and truth will return to the people of this Nation and that we will not be fooled by the lies of the devil. Amen.
All that the legislators have accomplished is to kick the can down the road. No, I do not think that our legislators have made a wise decision. They make these fiscal decisions without any concern about WHERE are we going to come up with all of this extra money! The whole debt situation is a set-up that involves the founding of the Federal Reserve system. First of all, there is NOTHING federal about it. Secondly, it was created by the movers and shakers of the early 20th century- billionaires, who intentionally set up a system where our nation would chronically be in debt. Lord Jesus, You alone are greater and mightier than the convoluted, evil schemes of man. By Your grace, Lord, please, make a way for this ongoing debt crisis to be resolved. Man’s short-term fixes don’t solve the core issues. Please, intervene in this mess. You are the only One who can fix this , and all of the man-made problems that we, as a nation, face today. I pray that it will be taken care of, according to Your great will. In Jesus’ mighty and powerful name.
Please read
DEUTERONOMY 28, 29 & 30.
We have claimed Chapter 28 and ignored Chapters 29 & 30.
The word “IF” is critical.
We cannot continue to sin personally and ask God to judge others whose sins may be more public.
2 CHRONICLES 7:14
“IF My people who are called by MY NAME will HUMBLE themselves, and PRAY, and SEEK MY FACE, and TURN from their wicked ways,
THEN, I WILL HEAR FROM HEAVEN. I WILL FORGIVE their sins, and I WILL HEAL their Land.
IF! IF! IF! IF! IF! IF! IF!
I tried running my household on credit. Doesn’t work! Congress plays with Monopoly money—except it’s OUR money. The debt needs to be an upfront issue along with all our sinful actions weighing heavy before the Lord. Repent! The Kingdom of God is at hand. Let us pray and encourage our leaders to turn to God. It’s not too late. He will help us.