MAGA Republicans take America hostage.
MAGA Republicans are threatening to blow up our economy by making America default on its bills because they know they can't pass their unpopular agenda any other way. They have a knife to the throat of the American economy. - CAP
Budgets are a statement of values – and it is clear that the Biden administration is squarely focused on lowering the cost of living, helping families make ends meet, and making sure billionaires and large corporations pay their fair share.This stands in stark contrast with the economic nihilism of MAGA extremists. They don’t care about American families’ pocketbooks or their bottom line – all they care about is ripping away our rights to make decisions about our own bodies, banning books, telling us who we should love, and more.
MAGA Republican hostages include seniors, students, veterans, commuters... See who they are and where they live. Are you a hostage too?
MAGA Default Crisis
The MAGA default crisis is the greatest risk to our economy today. Speaker McCarthy and MAGA Republicans are taking the economy hostage and turning America into a nation of people who don’t pay their bills. We are better than this. If MAGA Republicans in Congress fail to pay America’s bills, we will default. The middle class, working people and seniors will pay the price. What happens if MAGA Republicans force a default?
"MAGA House Republicans are holding the American economy hostage in order to take a hatchet to programs Americans rely on every day to make ends meet." - CBS
How would you be hurt?
- It could delay Social Security and Medicare payments, harming seniors who have earned it and are counting on it.
- It will increase costs for working people by driving up interest rates on items like credit cards, car loans, and mortgage rates at the same time families are struggling with high prices.
- It will hurt people who work for a living.
- If default lasted for even a few weeks, it could cause a recession that could result in the loss of nearly six million jobs, the unemployment rate could double and it could wipe out $12 trillion in household wealth.
Massive Republican tax cuts for the rich
"Republicans’ massive tax cuts to the rich have cost taxpayers over $10 trillion over the last two decades and now they want America’s workers and families to pay the price," said Representative Richard Neal, the senior Democrat on the House Ways and Means Committee. The White House has called on Congress to raise the debt limit without conditions, as it did three times under Biden's Republican predecessor, Donald Trump.
The bill would pare spending to 2022 levels and then cap growth at 1% a year, repeal some tax incentives for renewable energy and stiffen work requirements for some antipoverty programs. White House Press Secretary Karine Jean-Pierre said Biden would not sign off on such cuts. "President Biden will never force middle class and working families to bear the burden of tax cuts for the wealthiest, as this bill does," she said in a statement. "The President has made clear this bill has no chance of becoming law." - Reuters
Resources: Center For American Progress, Robert Hubbell, Business Insider, CNN, Military Times, House Appropriations and WhiteHouse.
TakeAway: Don't negotiate with MAGA financial terrorists who've taken the economy hostage to fund tax cuts for their billionaire donors. Call your congressperson.
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