'The American unwillingness to work would constitute a national disgrace under any circumstances, but given our redistributionist wealth transfers from workers to the elderly, it's a fiscal security threat.' -TianaTheFirst
Despite passing a debt ceiling bill nearly a month ago, House Speaker Kevin McCarthy is still stuck negotiating with Joe Biden on a deal to raise the debt ceiling that the president is willing to sign into law.
The GOP bill's requisite 80 hours a month of work are half what the average American adult works, and it exempts parents, teenagers, and adults ten years younger than the retirement age of 65 . While, as a practical matter, McCarthy is likely correct to pursue such modest work requirements, those requirements in principle are far too modest.More than one in three Americans aged 16 years and older do not work.
When the federal government first began to steal from the workers to fund novel vacations called"retirement," more than 100 workers were contributing to each beneficiary. By the turn of the century, the government was gleaning from fewer than four workers for each retiree, and as of 2022, just 2.8 workers fund each beneficiary.
McCarthy is operating under a grueling political reality, and even the most idealistic of conservatives can accept that the GOP debt ceiling bill is probably the best shot at fiscal sanity the nation can secure for a moment. But Republicans cannot give in an inch on work requirements as liberal and welfare-subsidizing as these, as any backtracking would mark the end, not the beginning, of restoring fiscal sanity.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
President Biden, House Speaker McCarthy to meet at White House over debt ceilingThe meeting Monday between the president and the new Republican speaker will be a race to prevent the looming debt crisis. There are 10 days until a potential default.
Baca lebih lajut »
Biden and McCarthy end debt ceiling talks without a deal despite looming deadlinePresident Joe Biden and House Speaker Kevin McCarthy say their talks have been productive but they still have no deal. Former White House Economic Adviser Steve Moore joined The National Desk’s Jan Jeffcoat on Tuesday to discuss the issue.
Baca lebih lajut »
Biden, McCarthy to meet at White House amid deadlock in debt limit talksHouse Speaker Kevin McCarthy is to meet Monday with President Biden at the White House in hopes of forging a breakthrough on a deal to cut spending and raise the debt limit.
Baca lebih lajut »
Biden spoke with House Speaker McCarthy about debt limit during return flight from JapanMcCarthy calls phone call ‘productive’ and says he and the president will meet in person on Monday.
Baca lebih lajut »
Senior White House Official hints, “Keep working tonight” as Biden-McCarthy debt ceiling talks loomSenior White House Official hints, “Keep working tonight” as Biden-McCarthy debt ceiling talks loom – by anilpanchal7 UnitedStates FiscalPolicy Politics RiskAversion NewsTrading
Baca lebih lajut »
Biden 'optimistic' on debt ceiling as White House negotiation with McCarthy underwayPresident Joe Biden and House Speaker Kevin McCarthy are meeting at the White House on the impasse over the government's debt ceiling. Washington is racing to strike a budget compromise and raise the nation’s borrowing limit in time to avert a potentially devastating federal default as soon as next week. Biden says he's optimisitic. McCarthy told reporters Monday it's time to “get moving” toward a deal. The negotiating teams wrapped up three hours of morning talks at the Capitol. After a weekend of start-stop talks, both Biden and McCarthy appeared upbeat as they face a deadline, as soon as June 1, when the government could run out of cash to pay its bills.
Baca lebih lajut »