The bill aims to raise the debt limit for two years and cap government spending, as the U.S. barrels towards a June 5 debt default deadline.
In order to fast-track a bill through the chamber and vote on it before Monday, all 100 senators must agree to the plan, and give their “unanimous consent” for the bill to bypass the notoriously slow Senate procedures.
Reportedly at least three known senators, Utah Republican Mike Lee, Kentucky Republican Rand Paul and Virginia Democrat Tim Kaine, have openly indicated they have serious objections to specific parts of the bill.
Kaine introduced an amendment that would strip the House bill of a last-minute provision that all but guaranteed the approval of the Mountain Valley Pipeline, a LNG pipeline project through West Virginia and Virginia.
Lee also proposed an amendment, to remove a line in the House bill that would allow the director of the Office of Management and Budget to unilaterally waive some spending restrictions on federal regulators if they determined that the spending was needed for “effective program delivery.”
In a typical Senate process, these members would be expected to slow down Senate deliberations on the bill, propose their amendments to it, try to get those amendments passed by a vote and added to the bill, and if they succeed, send the amended bill back to the House for another vote.
But with just days to go before the June 5 deadline set by Treasury Secretary Janet Yellen there really isn’t any more time to deliberate.
At least not without risking default. The United States of America, Federal Government is 34.1 TRILLION DOLLARS in debt.
This country has accrued more debt than it will ever be able to satisfy.
What happens to someone when they’ve gone beyond a point where they’re able to recover from? That’s right, they default.
I’m a firm believer that at some point in time the United States of America goes BANKRUPT and DEFAULTS.
Every dollar they manifest out of thin air devalues the dollar we all work so hard to earn. Life has become unaffordable for a large percentage of our country.
Just like personal or business bankruptcy relieves the debts accrued, when the Federal Government at some point won’t have any other choice . . .
What can you do? It’s simple, you need to spend less and earn more – the exact opposite of what our government is doing.
Following their lead is financial suicide!
While I can’t control your spending habits, I can likely help you earn a few extra bucks trading! If you’d like to learn more, just follow this link!