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    debt default

    Rep. Matt Gaetz leaves a meeting of the House Republican Conference

    Matt Gaetz Openly Confirms Republicans See US Economy as 'Our Hostage'

    "A key player in the extreme MAGA House majority now admits what anyone paying attention has suspected all along," said one watchdog group.

    Jake Johnson
    May 24, 2023

    Through their actions in recent months, House Republicans have made clear that they view the debt ceiling standoff as a hostage situation that they can exploit to advance their political agenda—which includes draconian cuts to social programs and massive handouts to the fossil fuel industry.

    On Tuesday, just days before the June 1 "X-date," Rep. Matt Gaetz (R-Fla.) came right out and admitted it, telling reporters that "my conservative colleagues for the most part support Limit, Save, Grow, and they don't feel like we should negotiate with our hostage."

    Keep ReadingShow Less
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    matt gaetz
    Rep. John Larson speaks at a press conference on Social Security expansion legislation

    House Dems Announce Bill to Expand Social Security as GOP Default Threat Imperils Payments

    "No corner of America is safe if the Republicans blow up our economy, and that starts with Social Security," said Rep. Bill Pascrell.

    Jake Johnson
    May 23, 2023

    A group of House Democrats on Tuesday began rolling out legislation to strengthen and expand Social Security as their Republican counterparts' debt ceiling brinkmanship threatens to disrupt the program's monthly payments, which keep millions of seniors and children across the U.S. out of poverty each year.

    During a press conference, the Social Security 2100 Act's co-sponsors emphasized the potentially devastating impacts that a GOP-induced U.S. debt default would have on the nation's tens of millions of Social Security recipients, many of whom rely on the program for their sole source of income.

    Keep ReadingShow Less
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    social security
    President Joe Biden speaks about why Congress must avoid default by lifting the debt ceiling

    'Pretty Troubling': Progressives Raise Concerns Over White House Comments on Spending Cuts

    President Joe Biden "should not give in to hostage-taking," said one economist.

    Jake Johnson
    May 12, 2023

    After meeting with congressional leaders earlier this week as the U.S. barrels toward a catastrophic debt default, President Joe Biden said that "we should be cutting spending," a remark that fueled concerns among progressives that the White House is preparing to cede to at least some Republican demands in exchange for a deal to lift the debt ceiling.

    President Joe Biden has said repeatedly that he will not negotiate over the debt ceiling, and that the arguably unconstitutional limit must be raised without any preconditions.

    Keep ReadingShow Less
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    spending cuts

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