John,
Ever since they took control of the House in January, Republicans have been threatening to force the United States to default on its debt and set off an economic catastrophe.
And with every day that goes by, their threat becomes more and more real.
The latest information from the Treasury Department is that the “X-date,” the date on which the federal government could default on its debt, could come as early as June 1st — just 14 days from today.
Kevin McCarthy and the MAGA majority in Congress have made their position clear: Either the Biden administration agrees to their demands that include massive cuts and work requirements for those who rely on Medicaid and other federal programs, or they’ll blow up the entire economy.
Either way, Republicans would achieve their political goal of causing pain for working families and hoping voters blame Democrats for it in 2024.
President Biden has said over and over that the only acceptable “deal” with Republicans is a clean debt ceiling increase that avoids default. We agree.
That’s why we’re joining Elizabeth Warren, Bernie Sanders, members of the Congressional Progressive Caucus, and more in calling on President Biden to reject Republican demands — and to use his clear constitutional authority under the 14th amendment of the Constitution to ensure that they cannot force the United States to default on its obligations for the first time in history. If you agree, co-sign our petition here:
Sign the petition
A Republican-caused default would cause immediate and disastrous damage, including surging interest rates for credit cards, car loans and mortgages, and even the suspension of Social Security payments.
The unpopular cuts Republicans are demanding as their ransom — which would never otherwise pass both houses of Congress — would also cause needless harm to working families everywhere.
That’s why WFP champions including Elizabeth Warren and Bernie Sanders just signed a letter urging the Biden administration to be prepared to exercise their authority under the 14th amendment of the Constitution in a letter to the White House:
"We write to urgently request that you prepare to exercise your authority under the 14th Amendment of the Constitution, which clearly states: 'the validity of the public debt of the United States...shall not be questioned. Using this authority would allow the United States to continue to pay its bills on-time, without delay, preventing a global economic catastrophe… While we cannot default on our debt, we also cannot allow the destructive Republican budget to be implemented." — @SenSanders
If you agree, please co-sign our petition now:
Tell President Biden to reject Republican demands — and to use his clear constitutional authority under the 14th amendment of the Constitution to ensure that they cannot force the United States to default on its obligations for the first time in history.
We’ll be in touch with next steps about our organizing to avert a MAGA default or any “deal” that needlessly harms working families.
In solidarity,
Working Families Party
