Debt Limit Deflation
Biden should play offense on this one
The idea is Biden could start slashing spending he has the executive power to and inflict pain on the country in order to extend the time it takes for us to hit the debt limit. The story would be that we’re not going to let the radical republicans hold Social Security and Medicare hostage to their debt limit weaponization. Say we need 200 billion to extend solvency for another month, start by cutting back on services that will affect everyone and make it clear the radical republicans are forcing you to make these cuts, sort of a preemptive government shutdown.
Cut the monthly Social Security benefits by a progressively higher amount to stay within the debt limit and force the radicals to raise the debt limit or incur the wrath of their voters on Social Security.
Force them to back down from their idiotic kitchen table budget bullshit. Every month families with mortgages spend money they don’t have to live in their house. Don’t let these guys grab the narrative with simplistic arguments that we need to cut Social Security and Medicare to control the debt. Need another 200 billion to go another month? Maybe we can find that in the defense budget.
And make sure that the Republicans throw in a pay-for for the lost revenue 87,000 more Social Security auditors would have brought in for the treasury. These guys want to gut Social Security and Medicare to pay for tax cuts on the rich and corporations they gleefully signed into law with no way to pay for them, let’s focus on that.
Bring out the charts. Which presidents added to most to the deficit with tax cuts that weren’t paid for. Let’s talk about the 50 trillion in wealth that has been lost from the middle class going to those who think they’re actually worth the insane amounts of money being showered on them. Everyone in the 1% thinks they are indispensable and their ideas for everyone else to tighten their belts is morally superior to building a strong safety net. Let’s focus on tax benefits the 1% enjoy. Carried interest loophole has been an open secret making hedge fund managers richer as if they need the money.
It’s choose a side time. Either you want to give more money from your paycheck to make sure the rich don’t have to pay more taxes or you want your tax dollars going to support the common good, a concept lost on the Republican party.