Discover and read the best of Twitter Threads about #DebtLimit
Most recents (9)
Here is a thread about understanding GDP, Federal Spending, purpose of Federal taxes, Influence of Rich and wealthy on public policies, and Ignorance of the voters.
1/15: GDP measures the economy and spending; it's not rocket science, but politicians, media, and economists often pretend not to understand it to avoid government spending growth. 
2/15: Federal Spending is necessary for economic growth; when it doesn't grow, recessions and depressions occur, even if non-federal spending grows. The economy needs government spending to grow.
🚨BREAKING NEWS
1/7
The bipartisan debt-limit deal, brokered between the White House and House Republican leadership, is progressing. The House Rules Committee has voted 7-6 to advance the bill towards a full House vote on Wednesday evening. #DebtLimit #USCongress
1/7
The bipartisan debt-limit deal, brokered between the White House and House Republican leadership, is progressing. The House Rules Committee has voted 7-6 to advance the bill towards a full House vote on Wednesday evening. #DebtLimit #USCongress
2/7
However, the deal did not go unopposed. All Democrats on the committee voted against the advance. Two conservative Republicans, Reps. Chip Roy of Texas and Ralph Norman of South Carolina, also opposed. Both are members of the House Freedom Caucus, which has criticized the… twitter.com/i/web/status/1…
However, the deal did not go unopposed. All Democrats on the committee voted against the advance. Two conservative Republicans, Reps. Chip Roy of Texas and Ralph Norman of South Carolina, also opposed. Both are members of the House Freedom Caucus, which has criticized the… twitter.com/i/web/status/1…
3/7
The pressure is high as Congress races to pass the deal to suspend the debt ceiling before June 5. If not, the US could default on its obligations. Leaders from both parties face opposition from members critical of the concessions made in the compromise. #DebtCeiling… twitter.com/i/web/status/1…
The pressure is high as Congress races to pass the deal to suspend the debt ceiling before June 5. If not, the US could default on its obligations. Leaders from both parties face opposition from members critical of the concessions made in the compromise. #DebtCeiling… twitter.com/i/web/status/1…
🌟"The US Debt Crisis Explained in Layman"🌟
Hey, Twitter fam! 👋
Let's talk about a topic that affects not just the US but the entire global economy: the US debt crisis. 🌐💼
[THREAD]🧵👇
#DebtCeiling #UsDebtCeiling #DebtLimit
Hey, Twitter fam! 👋
Let's talk about a topic that affects not just the US but the entire global economy: the US debt crisis. 🌐💼
[THREAD]🧵👇
#DebtCeiling #UsDebtCeiling #DebtLimit
1) First things first: What is the meaning of Debt?
Debt means a loan.
We've all been there, borrowing money from a friend and promising to pay it back with a little extra, right?
Well, it's no different for governments. In this case, we're talking about the national debt.
Debt means a loan.
We've all been there, borrowing money from a friend and promising to pay it back with a little extra, right?
Well, it's no different for governments. In this case, we're talking about the national debt.
2) But why does the government need to raise debt?
Our government spends money on various important things like infra projects, social welfare, and developing roads, among others.
And while it mainly gets its revenue from taxes, sometimes the spending exceeds the income.
Our government spends money on various important things like infra projects, social welfare, and developing roads, among others.
And while it mainly gets its revenue from taxes, sometimes the spending exceeds the income.
🧵 on #SNAP #Medicaid #SafetyNet #WorkRequirements
* Just because you want a job, doesn’t mean anyone will hire you.
* No evidence making someone hungrier/sicker, helps them get/keep a job or get more hrs at work.
* Significant maj of ppl who’re poor have income from work. (1/8)
* Just because you want a job, doesn’t mean anyone will hire you.
* No evidence making someone hungrier/sicker, helps them get/keep a job or get more hrs at work.
* Significant maj of ppl who’re poor have income from work. (1/8)
* Even among workers substantially employed, 1 out of every 10 does not earn enough to lift their family above the FEDERAL poverty line. These people will have to take TIME OFF WORK in order to submit proof that they are working. It’s the #KeepingYouFromWorkRequirement. (2/8)
* Often, ppl working the hardest and longest hours need the help the most, but have erratic schedules, lack transportation and broadband, and/or are denied worker protections that are supposed to guarantee they receive a pay stub necessary to prove work, so fail to do so. (3/8)
🚨 Here’s what you need to know about what’s being called the “debt ceiling crisis."
#ncpol #DebtLimit
#ncpol #DebtLimit
👉 The debt ceiling is a numerical limit, set by Congress, on how much money the federal government can borrow to pay its bills.
#ncpol #DebtLimit
#ncpol #DebtLimit
Most years, the federal government spends more than it takes in in taxes, so it has to sell Treasury bonds to cover the difference and pay the country’s bills, up to the limit set by Congress.
#ncpol #DebtLimit
#ncpol #DebtLimit
😠 Many American workers would get taken advantage of by a new Republican bill, according to @AFLCIO, the nation’s largest federation of labor unions.
#ncpol #DebtLimit
#ncpol #DebtLimit
The bill would make cuts to healthcare, food assistance, rental assistance, and other programs that many workers rely on.
#ncpol #DebtLimit
#ncpol #DebtLimit
According to a report from Moody’s analytics, the bill would “meaningfully increase the likelihood” of a recession and cost the US 780,000 jobs by the end of 2024 if it were to become law.
#ncpol #DebtLimit
#ncpol #DebtLimit
A #DebtLimit 🧵
@nytimes Publisher @AGSNYT runs NYT as a Republican-protection racket.
Front page framing/gaslighting by @jimtankersley
That normalizes/accepts GOP strategy of abusing the debt ceiling as “politics”
@NormOrnstein @MarkJacob16 @taraemcg @jayrosen_nyu
@nytimes Publisher @AGSNYT runs NYT as a Republican-protection racket.
Front page framing/gaslighting by @jimtankersley
That normalizes/accepts GOP strategy of abusing the debt ceiling as “politics”
@NormOrnstein @MarkJacob16 @taraemcg @jayrosen_nyu
This is a GOP-manufactured reckless, damaging crisis. It is not a @JoeBiden crisis. By centering Biden and omitting details about how the debt ceiling functions - and context the NYT protects the GOP.
“Barrels” because the @GOP is willing to destroy the American economy.
“Barrels” because the @GOP is willing to destroy the American economy.
“Both sides-ism” hides and protects EXTREMIST GOP positions, harms and inability to govern.
These are institutional decisions to favor Republicans (at the expense of truth) by Editors esp @nycscribe
Legacy media has a pro-Republican bias.
NYT Covering vital news as sports…
These are institutional decisions to favor Republicans (at the expense of truth) by Editors esp @nycscribe
Legacy media has a pro-Republican bias.
NYT Covering vital news as sports…
A #DebtLimit 🧵
Reagan staffer & WaPo Publisher Fred Ryan runs @washingtonpost as a Republican-protection racket.
Front page disinfo & gaslighting by @TonyRomm
“Drift” ??passively as if by random? -Tony/WaPo Editors
@NormOrnstein @MarkJacob16 @Sulliview
Reagan staffer & WaPo Publisher Fred Ryan runs @washingtonpost as a Republican-protection racket.
Front page disinfo & gaslighting by @TonyRomm
“Drift” ??passively as if by random? -Tony/WaPo Editors
@NormOrnstein @MarkJacob16 @Sulliview
“Both sides-ism” hides EXTREMIST GOP positions, harms and inability to govern.
These are institutional decisions to favor Republicans (at the expense of truth) by Editors and @SallyBuzbee
Legacy media has a pro-Republican bias.
@jayrosen_nyu @JeffSharlet @soledadobrien
These are institutional decisions to favor Republicans (at the expense of truth) by Editors and @SallyBuzbee
Legacy media has a pro-Republican bias.
@jayrosen_nyu @JeffSharlet @soledadobrien
Hey @froomkin help us make sense why in a 217-215 vote to push America towards a catastrophe @Santos4Congress casting what could be considered a deciding vote” to pass the legislation is not a part of the conversation? He +the GOP cheated to win.
@marceelias @ElieNYC @espiers
@marceelias @ElieNYC @espiers
I understand #brinksmanship in a game of Monopoly. 1/
I understand #brinksmanship in a game of tag. 2/
But, I don’t understand #brinksmanship with the US debt—especially when your own party is the ran up the tab. US Debt is used as a pawn in a political game. But it’s not a game. Failure to pay or extend limit could tank our fragile economy. #GOPDomesticTerrorists #DebtLimit
