Last November, Republicans claimed they wanted to limit inflation, without ever mentioning how to accomplish this.
Gasoline prices are now much lower; inflation on grocery items is slackening. But now House Republicans are threatening America’s economic future by refusing to raise the debt ceiling for government expenses already incurred.
The U.S. Constitution requires the federal government to pay its bills and provide “full faith and credit” for its debts. A government default would throw millions of Americans out of work and bring on a recession with both high interest rates and inflation.
Before agreeing to raising the debt ceiling, House Republicans demand budget cuts for Social Security, Medicare and Veterans benefits. Other government programs would be cut. Farm payments and military salaries might be delayed.
Republicans want to put interest payments to wealthy bondholders ahead of ordinary Americans who want safe food, safe skies, safe communities, and secure borders.
Republicans profess to be the party of fiscal responsibility, but they repeatedly put the wants of wealthy and corporate donors ahead of the needs of the American people.
Republicans only worry about federal deficits when Democrats occupy the White House! Where were these same Republicans when George W. Bush and Trump ran up record deficits each year?
Trump’s budget broke all records in 2017, when Republicans gave the richest Americans huge tax breaks. Trump’s budget in 2018 included deficits even bigger, only to be surpassed in 2019 and again in 2020!
If Republicans are concerned about federal deficits, they should repeal the 2017 Tax Law that allowed the richest Americans to avoid paying income taxes. Republicans should not hold the nation hostage to their demands to cut Social Security and Medicare. Republicans are creating a crisis, hoping to use chaos to achieve their long-held goals of destroying Social Security and Medicare.
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