The deal to raise the debt limit is a bad deal. It is unfortunate that it seems to take a Republican led Congress and a Democrat President to get meaningful debt reductions in this country. President Bill Clinton and a Republican Congress balanced the budget. That was in the late nineties. In 2011, House Republicans forced Barack Obama to agree to sequestration, which brought about meaningful cuts to spending.
Sequestration is finally dead with this deal. The present deal busts caps, funds Planned Parenthood, does not fund meaningful border security, and comes the same day the administration made a concession to abortion clinics.
This is unfortunate.
President Trump and congressional leaders are nearing a deal that would raise the discretionary-spending caps by $320 billion over two years and offset less than one-quarter of those costs (and even those offsets would take a decade to materialize). The budget deal would essentially repeal the final two years of the 2011 Budget Control Act and raise the baseline for future discretionary spending by nearly $2 trillion over the decade.
Deficits are touching one trillion dollars. Spending is on the rise. Planned Parenthood is being funded. Congressional Republicans are failing, floundering, and giving in to fiscal irresponsibility. These are people who believe President Trump needs to be surrounded with sober-minded grownups and no grown up would spend like this without bankrupting his family.
The Republicans have ceded any and all credibility on fiscal responsibility. The President should not sign this deal. He should demand more concessions on spending. He should demand his own party that was willing to shut down government just a few years ago on this issue actually fight for it now when they have him in the White House.
This President should do as congressional Republicans did in 2011 and leverage a debt ceiling increase for meaningful fiscal sanity, not more out of control spending.
Our elected officials as a whole need to put sound fiscal stewardship ahead of pandering for votes.