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UpInArms

(51,253 posts)
Wed May 1, 2019, 08:35 AM May 2019

Fiscal Cliff Looming?

From a Marketwatch article this morning ...

https://www.marketwatch.com/story/treasury-holds-line-on-auction-sizes-says-extraordinary-measures-around-debt-limit-will-be-exhausted-sometime-in-second-half-of-year-2019-05-01?mod=mw_latestnews

Big picture: The government is expected to run a deficit close to $1 trillion for this fiscal year. Economists said pressure on Treasury to increase auction sizes was due in part to the Federal Reserve’s decision to end its program to slowly shrink its balance sheet

In February 2018, Congress suspended the debt ceiling. That suspension ended on March 1. Since then, the department has been using extraordinary measures to keep below the debt limit. There is concern that Congress will be unable to pass a debt limit measure as lawmakers have not even been unable to complete work on a politically popular disaster relief measure. The Washington Post reported that administration officials are working behind the scenes for a quick resolution to the debt ceiling impasse.

The government will also need to be funded after the start of the new fiscal year on Oct. 1. There are worries about the potential for another government shutdown as President Donald Trump and House Democrats duel about competing priorities.

In addition, a fiscal cliff is looming at the end of the year of no agreement on spending levels is reached.


Who would have thought?

🤦🏽?♀️
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Fiscal Cliff Looming? (Original Post) UpInArms May 2019 OP
By making a mess of things, the GOP Turbineguy May 2019 #1
its all done to attack SS and Medicare as that has been the GOP wet dream for decades beachbum bob May 2019 #2

Turbineguy

(37,212 posts)
1. By making a mess of things, the GOP
Wed May 1, 2019, 08:41 AM
May 2019

can shut down the government, privatize many functions and erect barriers to oversight. Dystopia at a profit.

 

beachbum bob

(10,437 posts)
2. its all done to attack SS and Medicare as that has been the GOP wet dream for decades
Wed May 1, 2019, 08:50 AM
May 2019

2020 election will have this as one of the top issues as well

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