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Hi,
The Treasury Department has announced that the U.S. government will hit the federal debt ceiling TOMORROW.1
After that, the government will not be able to pay its obligations without taking so-called "extraordinary measures" like delaying payments into retirement accounts for federal workers. And unless Congress raises the debt limit, the U.S. government will go into default, triggering a global economic meltdown.
But MAGA Republicans are still refusing to raise the debt limit unless Democrats agree to deep cuts to Social Security and Medicare.2
It's economic terrorism, plain and simple.
We've mobilized tens of thousands of people to contact Congress and oppose cuts to Social Security, and now we must ramp up our efforts. We're counting on grassroots supporters like you to help make it possible.
Tens of millions of Americans depend on Social Security to survive. It is one of the most successful government programs in history, and it would be especially cruel to cut seniors' benefits now, given the rise in inflation.3
But the MAGA Republicans now in charge of Congress are shameless. We saw during the week-long fight to select the speaker of the House how far they will go to achieve their ideological aims.
After violently attacking our democracy to overturn an election, they are now getting ready to hold the global economy hostage in order to slash Social Security and Medicare. That's why this moment is so dangerous.
Donate $10 to support our work to stop cruel cuts to Social Security and pursue other key reforms.
With gratitude for all you do,
Tihi and the team at Demand Progress Action
Sources:
1. CNN, "Kevin McCarthy faces debt-limit dilemma as House GOP ratchets up demands amid speaker bid," December 6, 2022.
2. Bloomberg Government, "Entitlement, Spending Cap Plans Linked by GOP to Debt-Limit Deal," October 11, 2022.
3. Social Security Works, "Factsheet: Social Security," accessed January 17, 2023.
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