Liberal Forum

razoo » 03 May 2023, 11:12 pm » wrote: ↑

03 May 2023, 11:12 pm

McCarthy's foolishness will impact millions in American and abroad .... Reckless indeed and fiscally dangerous

There's a looming crisis that could soon pummel the U.S. economy, and the consequences could affect all of us.House Republicans have confirmed they are willing to push the economy off a cliff for political leverage.

In plain terms, they are refusing to raise the debt ceiling — which would basically just pay for bills they and the Trump White House largely racked up — unless Democrats and the Biden White House agree to deep cuts to our future budget. 

Simply put, they’re taking America’s economy hostage, saying that after a four-year Christmas spending spree under Trump, they’ll stop paying the nation’s credit card bill unless Biden agrees to play Scrooge in future Christmases.

It’s a dangerous time to be playing these kinds of political games because a default or even the threat of one could trigger global panic.

And what do the House Ebenezers want to cut? You might think they would look to defense spending since so many of them are all up in arms about funding Ukraine and the “woke” military. But no, that’s the untouchable third rail. 

Instead, they want to kill large chunks of Biden’s Inflation Reduction Act, which means spending on the environment and transportation — bridges, tunnels, electric cars — that sort of thing. And guess who they think should bear the brunt of these cuts? People experiencing poverty, of course, since the GOP's bill targets programs for them.

The House Republican bill that some in the media credited as a “McCarthy win” would add work requirements to Medicaid and expand current work requirements to the food stamp program and the Temporary Assistance for Needy Families program.

https://www.msnbc.com/the-reidout/reido ... -rcna82541