Some members of the House Freedom Caucus said that a proposed deal announced by House Speaker Kevin McCarthy (R-Calif.) to raise the debt ceiling for two years ahead of a possible federal government default doesn’t go far enough.
Negotiators are now racing to finalize the bill’s text. McCarthy said Saturday that House will vote on the legislation on Wednesday, giving the Senate time to consider it before June 5, the date when Treasury Secretary Janet Yellen has said the United States could default on its debt obligations if lawmakers did not act in time.
But Rep. Andrew Clyde (R-Ga.), one of the House Freedom members, wrote that he would pass on the proposed deal. “A $4 trillion debt ceiling increase? With virtually none of the key fiscally responsible policies passed in the Limit, Save, Grow Act kept intact? Hard pass. Hold the line,” he wrote on Twitter Saturday.
“I listened to Speaker McCarthy earlier tonight outline the deal with President Biden and I am appalled by the debt ceiling surrender. The bottom line is that the U.S. will have $35 trillion of debt in January, 2025. That is completely unacceptable,” Rep. Ken Buck (R-Texas) wrote on Twitter, echoing statements made by other caucus members.
“A $4T debt ceiling increase with virtually no cuts is not what we agreed to. Not gonna vote to bankrupt our country. The American people deserve better,” wrote Rep. Ralph Norman (R-S.C.) on the social media platform, while Rep. Chip Roy (R-Texas) wrote Sunday that the proposal includes “ZERO claw back of the $1.2 Trillion ‘inflation reduction act’ crony giveaways to elite leftists for grid-destroying unreliable energy.”
The agreement would keep non-defense spending roughly flat in the 2024 fiscal year and increase it by 1 percent the following year, as well as provide for a two-year debt-limit increase—past the next presidential election in 2024, an anonymous source told The Associated Press over the weekend. The final details of the proposal have not yet been released to the public.
Some conservatives expressed early concerns that the compromise does not cut future deficits enough, while Democrats have been worried about proposed changes to work requirements in programs such as food stamps.
But McCarthy defended his “agreement on principle” debt ceiling deal with President Joe Biden on Sunday amid the criticism. The speaker acknowledged that some Republicans may not have got everything they wanted in the legislation but said that Democrats received little in concessions.
“Maybe it doesn’t do everything for everyone, but this is a step in the right direction that no one thought that we would be able to today,” McCarthy told Fox News in an interview on Sunday. “I’ll debate this bill with anybody,” he continued. “Is it everything I wanted? No, because we don’t control all of it. But it is the biggest recession in history. It is the biggest cut Congress has ever voted for in that process.”
Meanwhile, McCarthy suggested that the majority of his Republican conference would back the tentative deal with the Biden administration, which would raise the debt ceiling for another two years at the least. He also touted the bill, which he said would be about 150 pages, as a win for the GOP after the Biden administration held out on negotiations for several months.
“I think you are going to get a majority of Republicans voting for this bill,” McCarthy said in the interview. “We were able to do this when the president said he wasn’t even going to talk to us,” he added. “Right now, the Democrats are very upset.”
Before Saturday’s announcement, some members of the House Freedom Caucus said that McCarthy should stand firm in debt negotiations.
“First, President Biden delayed engagement with Congress for months on the debt ceiling and, now that he is engaging, press reports indicate he is pushing to water down the provisions of the House-passed Limit, Save, Grow Act while simultaneously demanding a debt ceiling increase of $4 trillion or more (well beyond the $1.5 trillion provided in the House bill),” 35 Republican lawmakers wrote last week.
And they added: “In response to the President’s preposterous position, we encourage you to add additional provisions to the Limit, Save, Grow Act such as the inclusion of the recently passed Secure the Border Act and the end to funding for the FBI’s massive (larger than the Pentagon) new headquarters.”
Republicans had also sought to repeal Biden’s efforts to waive $10,000 to $20,000 in debt for nearly all borrowers who took out student loans. But the provision was a nonstarter for Democrats. The budget agreement would keep Biden’s student loan relief in place, though the Supreme Court will have the ultimate say on the matter.
The Associated Press contributed to this report. Article cross-posted from our premium news partners The Epoch Times.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
If this capitulation is approved you can guess what will be said in 2024 as the economy crashes and debt skyrockets. The democrats will spend recklessly but still will blame the Republicans for the deal and it will be correct. The people will blame Republicans not the Democrats. McCarthy is a fool or a traitor