"America Is Set to Hit Its Borrowing Limit Today, Raising Economic Fears"
-- New York Times

Treasury will start using "extraordinary measures" to pay the bills -- but
those will run out this summer.

Kevin McCarthy and Republicans in Congress are trying to use the debt
ceiling to extract cuts to Social Security and Medicare.

President Biden and Democratic leaders in Congress need to make very
clear: We don't negotiate with economic hostage takers.

[ [link removed] ]We’re joining with Social Security Works, Daily Kos, and other
progressive groups to urge President Biden not to negotiate with
extremists -- and to accept nothing less than a clean debt-ceiling
increase. Sign here.

So far, Democrats are saying good things.

The White House told reporters, "We are not going to be negotiating over
the debt ceiling." And in November, at our urging, President Biden said
"Under no circumstances will I support the proposals put forward...to cut
or make fundamental changes to Social Security and Medicare."

But not all Democrats have said the right thing. And as the intensity
increases, Democratic leaders will feel pressure to make the same mistake
President Obama made.

Obama negotiated with extremist Republicans, offered them Social Security
cuts in a "Grand Bargain," and ultimately agreed to crippling
"sequestration" that slashed important programs and prolonged the Great
Recession.

[ [link removed] ]We can't let that happen again.

To be clear, the debt-ceiling is not about future spending. It's like
getting a credit card statement in the mail and deciding whether to pay
it. If you don't for too long, your credit is ruined and you get charged
more to borrow again.

In this case, the bill is for the Trump tax cuts for the rich. That's why,
going forward, we need to tax billionaires and corporations that don't pay
their taxes.

We are talking with the White House, our allies in Congress, and the media
about this issue -- and will keep them informed of the growing public
mobilization.

[ [link removed] ]Sign on here to tell the president and top Democratic leaders to stand
strong. No negotiating with hostage takers -- we demand a clean debt
ceiling increase and NO cuts to Social Security and Medicare benefits.

Thanks for being a bold progressive.

-- The PCCC Team ([ [link removed] ]@BoldProgressive)

 

 

 


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