Comments by "Federalist Papers" (@federalistpapers4523) on "Republicans Block Democratic Effort To Raise Debt Ceiling As Officials Warn Of Economic Catastrophe" video.

@Mike-lv6vs The definition of debt limit- noun, The amount of money the government is legally allowed to borrow. President Trump's spending has already been covered, by the debt ceiling increase passed during his term in office. The Democrats have included borrowing a massive portion of their infrastructure bill. They CANNOT pay for this bill without raising the debt limit. The best suggestion I can give you is to educate yourself, BC your ignorance is apparently hindering your ability to comprehend. This debt ceiling increase is only necessitated, due to reckless Democrat spending proposals.
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Democrats purposed tax increase is the largest in US history, benefiting the wealthy, at the expense of the poor! Inflation is rampant, and extremely hurts the average person.
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@Mike-lv6vs As part of the COVID-19 relief bill passed in March, Congress approved a one-year increase in the child tax credit from $2,000 per child annually to $3,600 per child under the age of 6 and $3,000 for those ages 6 to 17—delivered as monthly payments of $300 per child under age 6 and $250 for older kids. In the reconciliation bill, Democrats are proposing to maintain the expanded tax credit through 2025. Why 2025? Because the tax credit—which isn't really a tax credit at all, but rather a direct subsidy since it is paid out even if recipients have no income and owe no federal taxes—is expensive. The Committee for a Responsible Federal Budget estimates that the child tax credit will cost about $110 billion annually, and extending the tax credit through 2025 will cost $450 Billion. Making it permanent would cost $1.1 Trillion over the next 10 years. Those amounts could make a big difference in the ultimate fate of Biden's plan. Democrats need to use the reconciliation process to bypass the filibuster in the Senate, but the rules governing the reconciliation process forbid legislation that expands the federal budget deficit over the next decade. That means every dollar of new spending has to be offset somehow. And $1.1 trillion is a lot more than $450 billion. Most Democrats would probably love to extend the expand the child tax credit permanently. But by setting the expanded tax credit to expire four years from now, Democrats are able to ignore roughly $700 billion in future costs that have to be offset in order to use the reconciliation process.
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@Mike-lv6vs Pay very close attention at 3:10 forward. Also households earning $150,000 a year do not need help with child care. This is a ploy by democrats to subsidize secular based child care. https://youtu.be/uGz5szBzyyA You really need to keep up, Mike.
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@Mike-lv6vs In 1995 Senator Biden tried 4 times to cut Social Security, Medicare, Medicaid, Veterans benefits, and food stamps. Honestly, do you think he won't try again? https://youtu.be/dxYhsjjWfV4
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