Republicans are threatening America’s economic future by refusing to raise the federal debt ceiling unless there are drastic cuts to spending.
The federal government may default and not pay its debts for the first time in American history.
When this happens, interest rates will go up, and the U.S. credit rating will take a major hit. The financial markets may panic.
It will cost much more to buy a car or get a home mortgage. Businesses will close, and unemployment will increase.
Republicans ignored spending caps when Trump was president, even though Trump amassed a federal debt greater than all previous presidents combined.
To balance the budget, Republicans plan to kick 100,000 kids off childcare; deny affordable housing to over a million low-income families; take away meals from seniors; and make it harder for seniors and people with disabilities to access earned Social Security benefits.
Republicans claim they support veterans, but their bill hits the Department of Veterans Affairs with a 22 percent funding cut.
Republicans want to roll back environmental regulations and cut IRS funding meant to crack down on wealthy tax cheats.
We need to rescind the 2017 Republican Tax Law that adds $2 Trillion to the annual federal deficit and cuts taxes for the richest Americans. Now billionaires like Elon Musk and Jeff Bezos don’t need to pay income taxes.
Republicans want to cut Food Stamps so rich people get tax breaks on their yachts and private jets. They want to rescind the Inflation Reduction Act and again impose higher prescription prices for insulin.
With Speaker Kevin McCarthy barely holding onto his position, Freedom Caucus leaders like Marjorie Taylor Greene control Republican demands.
The Freedom Caucus does not care about working Americans, and they want America to default on its debts despite the tragic consequences.
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