The GOP’s Extreme Debt Limit Plan Leads to Default

The GOP’s Extreme Debt Limit Plan Leads to Default

WASHINGTON — Third Way released the following statement from Zach Moller, Director of the Economic Program:

"Republicans are bent on inflicting economic catastrophe on American families one way or another. The GOP Debt Limit Plan before the House would decimate public safety programs and eliminate 28,500 law enforcement and public safety positions. The gall of the Republican Conference to insist on deep cuts to border security officers, food inspectors, emergency response personnel, and even the U.S. Capitol Police to avoid a national debt default reveals a party completely overrun by the extremes.

"Let us be clear. There is no moderate, commonsense rationale for a national default. In every single congressional district, Republican and Democratic alike, a default will cost the American people thousands of jobs, stop Social Security checks to tens of thousands of households, wipe out investments of Americans near retirement, and add to the costs families face for everything from a new mortgage to everyday items. Further, default is the opposite of fiscal responsibility, and would raise the national debt by an additional $850 billion.

"Republicans, spurred by their MAGA fringes, are demanding the United States defund public safety and more or default. Democrats remain united in defending the pocketbooks of middle-class families and the progress we have made rebuilding our economy. Any Republican claiming a shred of moderation should be working with the Democrats to avert this economic crisis."


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