GOP planning 'catastrophic default' if Democrats refuse to cut Social Security and Medicare [View all]

[Nevilledog]

Link to tweet

https://www.alternet.org/2022/10/gop-plans-catastrophic-default-democrats/


Top House Republicans are planning to threaten to shut down the U.S. Government by refusing to raise the debt ceiling next year in a scheme to force Democrats to cut Social Security, Medicare, and Medicaid, should they win the House in November critics warn, pointing to a Bloomberg report.

“Social Security and Medicare eligibility changes, spending caps, and safety-net work requirements are among the top priorities for key House Republicans who want to use next year’s debt-limit deadline to extract concessions from Democrats,” Bloomberg Law reports. “The four Republicans interested in serving as House Budget Committee chairman in the next Congress said in interviews that next year’s deadline to raise or suspend the debt ceiling is a point of leverage if their party can win control of the House in the November midterm elections.”

U.S. Rep. Don Beyer (D-VA), chair of the Joint Economic Committee Democrats, an advisory committee created by law, blasted House Republicans, warning they “plan to hold the U.S. economy hostage with the threat of a catastrophic default to try to force cuts to Social Security and Medicare.”

Aaron Fritschner, former Deputy Chief of Staff to Rep. Beyer tweeted: “House Republicans saying out loud that holding the debt limit hostage to demands for cuts to Social Security and Medicare is a ‘top priority.'”

*snip*