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Today, House Republicans passed the ‘Defaulting on America Act,’ a piece of legislation that seeks to force the U.S. to default on its debt in order to advance an extreme MAGA agenda that puts the health, safety, and wellbeing of everyday Americans at risk.
Economists recently warned that the Republican plan would increase unemployment, decrease economic growth, increase the likelihood of a recession – and even spur agencies to downgrade the nation’s credit rating. The extreme MAGA Republican plan would also:
If House Republicans were to cause a default, Social Security and Medicare payments could be delayed, 401K savings could be slashed, 30-year mortgages and the prices of everyday goods could skyrocket, millions of people will lose their jobs, and the national debt would increase by $850 billion.
DCCC spokesperson Tommy Garcia:
“Vulnerable Republicans will face the consequences for supporting a bill that increases the risk of recession, raises prices on everyday families, tampers with seniors’ Social Security, rips away food security and health care from everyday people, and threatens community safety. By siding with extreme MAGA Republicans and embracing a plan that would cause a catastrophic default in order to force an extreme, out-of-touch agenda, vulnerable Republicans are helping build the case against themselves for 2024.”
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