John,
The U.S. Department of the Treasury estimates that on June 1, it will have exhausted the extraordinary measures it has operated under to prevent default since January.
If Congress has not raised the debt ceiling by then, this won’t be some normal government shutdown. Those are damaging―but this would be worse. A default would ripple through the global financial system, setting off a likely recession (if not depression), causing the US Government to be unable to meet some payments, including missing payments on Social Security checks for the first time in the program’s nearly 100 years of existence.
Congress must stop its extortion plot and increase the debt limit without cutting programs that the people count on!
Republican priorities are clear: They only show concern about the deficit when a Democrat is in the White House. Under Donald Trump, they passed a massive $2 trillion tax handout to millionaires and billionaires. And their plans to reduce the debt now don’t touch tax rates―just programs that people rely on. This whole “crisis” could be resolved with a piece of legislation that’s a single sentence long―they just need to increase the debt ceiling!
Right now, politicians are hearing from their Wall Street donors who want to keep their tax cuts. They need to hear from YOU! Send your message today!
Thanks,
Michael Phelan Social Security Works
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