in this place where big money now rules and in which fakery is now the order of the day and numbers no longer have to be real, there is one point that stands out, and that is that the fakery on the floor is belied by the language of the bill. If these assertions were true, they would not need to raise the debt limit. All of these fun and games, all of this parliamentary mischief that is happening right now crashes into the fact that, in real markets, in the real world outside of this fakery, the debt limit is actually a real thing. I will take a moment to read from page 754 of this midnight monstrosity, what it actually says, where it collides with the real world. Subtitle C--Increase in Debt Limit. SEC. 72001. MODIFICATION OF LIMITATION ON THE PUBLIC DEBT. Line 20: The limitation under section 3101(b) of title 31, United States Code, as most recently increased by section 401(b) of Public Law 118-5 (31 U.S.C. 3101 note) is increased by $5,000,000,000,000. Five trillion dollars--that is the real number here. That is where the rubber hits the road in real life. The maneuver that is being pulled right now to avoid that fact--the fact that the debt limit has to be increased by $5 trillion so the Republicans can give immense tax breaks to billionaires--has not been used for this before.
Editor's note · Context
Discussing the implications of raising the debt limit during a debate on fiscal policy.
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