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Mike Norman Economics

Debt Ceiling Deal

Still requires approval but current form would suspend until January 2025 … after next presidential election… good riddance…For the curious, here’s the part on how the suspension of the debt limit will work.TLDR: Treasury will again be able to use measures to delay hitting the debt ceiling come 2025. https://t.co/tZY41wWvWY pic.twitter.com/mkNsCUvi04— Justin Slaughter (@JBSDC) May 28, 2023

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McCarthy bringing out the big guns

McCarthy with the big 1-2 combination….Here he leads with the good ole “borrowing from the Chinese!” Art degree moron analogy figurative language:I literally asked the president: "What is the number? How much debt must America have before you say, 'let's stop borrowing from China?'" pic.twitter.com/nAd1wMtDOw— Kevin McCarthy (@SpeakerMcCarthy) May 21, 2023 And then the big combo “spending money we don’t even have!” unqualified Art degree moron figure of speech:Just got off the phone with the...

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Debt deal “aftershock!”

lol… the good ole’ “crowding out!” Art degree thesis … yo it’s probably going to cause a short term >$500B reserve drain at Depositories …. 🚀Markets will suffer a $1 trillion aftershock once a debt limit deal is struck A supply burst to restock Treasury 's cash will raise short-term funding rates and tighten the screws on the US eco just as it’s on the cusp of recessionBy @mccormicklizhttps://t.co/WeW92l0b25— Saleha Mohsin (@SalehaMohsin) May 18, 2023

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