"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.

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.

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.

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 (@BoldProgressive)

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