You may be seeing a lot of headlines about the debt ceiling and budget plans — so I wanted to give you a quick update on where things stand.

House Republicans are manufacturing a debt ceiling crisis to try to wedge us between a rock and a hard place:

Option #1: Default on the national debt, trigger a recession, and throw 1 million Americans out of work.

Option #2: Cut key government programs, trigger a recession, and throw 2.6 million Americans out of work.

In other words: Heads, they win. Tails, we lose. Both outcomes would hit working people like a kick in the teeth. And both outcomes could cause enough damage to pave the way for Republicans to take back the White House in 2024.

But look: There’s no reason we have to play the GOP’s game here.

Add your name if you agree : We’ve got to pick Door #3 and pass a clean bill to avoid a debt default without making job-destroying cuts. [[link removed]]

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You may be wondering where I got those jobs figures from. Well, I asked a top economist to put together a report on the consequences of a debt default AND on the consequences of Republicans’ proposed budget cuts. You see, we’ve heard a lot about the former — and they’re plenty terrifying — but less about the latter, which should also send chills down policymakers’ spines.

The economist, Mark Zandi, presented his report to a Senate Banking subcommittee hearing I chaired. We also heard from a Massachusetts child care and early learning provider about how much damage GOP cuts would do to families like the ones she works with. And a tax expert testified about how we could raise trillions in revenue by getting billionaires and giant corporations to pay their fair share.

Look: House Republicans aren’t interested in fiscal responsibility — they want hardworking Americans to shoulder the burden of keeping the government up and running while billionaires and large corporations get away with paying as little as possible.

The debt ceiling hostage demands that they’re making would cost millions of Americans their jobs and plunge into a recession. That’s a non-starter.

I’m going to keep fighting for a clean, responsible bill that avoids a debt default.

I’ll keep making sure policymakers hear about the human consequences of things like budget cuts.

And I’ll keep thinking about the millions of Americans who are working hard right now — paying mortgages, making rent, putting food on the table — but would get handed pink slips if House Republicans get their way.

I’ll stay in the fight, but I can’t do it alone. Add your name to say you’re fighting alongside me to protect hardworking Americans from the GOP’s debt-ceiling games and devastating proposed cuts. [[link removed]]

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Thanks for being a part of this,

Elizabeth

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