Rapidcreek
Again, not Biden. Congress
There needs to be a budget passed by Congress to allocate money to be spent. It hasn't been done in some time as Congress can only agree on continuous resolutions. The majority of the budget can't be changed, things like interest on debt, mandatory programs, etc. That's why Musk's BS is simply that.
Next is allocation, or spending. Congress has a pool of money for a division of the government through the budget and now allocates for a particular program or need. It then allocated this money and Treasury is given the responsibility to pay for it. When revenues don't match expenditure we borrow money from ourselves to take care of the shortfall.
It's only fitting that our flag should fly at half mast on January 20th.
It provides focus.
I suppose your Congress Critter could provide an answer.
That's a good question. I suppose it has something to do with Congress neededing to pass a budget for each spending bill.
That is to say that Congress has allocated money. Your issue is with them.
Congress allocates, executive administrates.
How does limiting the amount of debts the Treasury can accrue on money already earmarked for spending pay anyone's bills?
The simplest answer is to say that the money is earmarked for spending, but not payment. Think that Congress spends the money and Treasury pays for it. Some bills are due and payable this year, a year from now, 5 years from now, etc. Plus, income, or taxes raised, are also veriable.
In any case, the debt limit has to be raised in January and Trump is none too happy about it.
The Debt Limit is placed on the Treasury to allow them to pay for money already spent by the government. Essentially, it limits the amount of debt the Treasury can draw down on. Without it, the bills aren't paid.
When Jimmy grew up his house didn't have electricity or running water. Or malice, as it turns out.