[ [link removed] ]Katie Porter for Senate



If you’ve been following the news and wondering what the “debt ceiling”
even is and why it’s important, you’re not alone. That’s why today, we’re
going to borrow Katie’s whiteboard and explain the basics.

[ [link removed] ]But first—if you can afford to make a donation to support our campaign,
please consider making a contribution today. Katie Porter will be a
warrior for all working
people in the Senate and stand up against extremist
Republicans.

What is the debt ceiling? How is debt accrued?
The debt ceiling is the maximum amount of money the U.S. government is
authorized to borrow in order to pay its bills. The United States’ “bills”
include all sorts of things—from paying our military service members to
sending you a tax refund.

Why is the debt ceiling in the news right now?
Last month, the U.S. government hit the debt ceiling. That means, until
the debt ceiling is raised by Congress, the federal government can’t
borrow any more money. Bills are being paid right now by Treasury
Secretary Janet Yellen, who has taken “extraordinary measures,” such as
suspending new investments in government retirement funds in order to do
so. But even then, she said that she will only be able to do this until
June if Congress does not raise the debt ceiling.

So why hasn't Congress raised the debt ceiling yet?
Extremist Republicans are blaming Democrats and President Biden for the
country hitting the debt ceiling. You may remember some of them suggested
cuts to vital programs like Medicare and Social Security, even though, by
law, Social Security adds $0 to our national debt.

Here’s the truth, John: Both
parties have raised the debt ceiling and accrued debt. This isn’t a matter
of partisan politics—it’s a matter of whether or not our country can pay
its bills.

If Republicans refuse to raise the debt ceiling in an attempt to score
political points, we could default on our debts, which would be disastrous
for our economy and government programs.

[ [link removed] ]Consider chipping in to help send Katie to the U.S. Senate, where
she’ll fight back against extremist Republicans and petty partisan
politics.



[ [link removed] ]Donate ›››



We hope this explainer helped. We’ll keep you updated as this continues to
unfold.

—Katie Porter for California




 


This email was sent to [email protected]. Email is a critical way we communicate with grassroots supporters like you. However, if you would like to change your subscription preferences, here are some options:

Receive Fewer Emails: [link removed]
Update Your Information: [link removed]
Unsubscribe: [link removed]

[PAID FOR BY KATIE PORTER FOR SENATE]