Birdwatch Note Rating
2023-04-20 12:34:31 UTC - HELPFUL
Rated by Participant: 159285FA0FA87E008AE94BC90B8D5901DA618A382DD0E135B7F0D4BC922CBFAC
Participant Details
Original Note:
Kevin McCarthy is tying the debt ceiling raise to a budget, but the debt ceiling is based on money already spent. You could cut the budget to zero today & it would have no effect on needing to raise the debt ceiling. And not raising it would be economically catastrophic. https://www.marketplace.org/2023/04/17/the-last-time-the-u-s-almost-defaulted-on-its-loans-the-consequences-were-expensive/amp/ https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/debt-limit
All Note Details