Brunswick Beacon, 11.03.22
House Minority Leader Kevin McCarthy said if Republicans win control of the House, they’ll hold the debt ceiling hostage and force cuts to Social Security and Medicare. Not raising the debt ceiling won’t reduce spending, but will make us default on our debt for the first time in history. That would destroy America’s credit rating, trigger a depression and throw millions out of work.
Republicans previously announced their plan to “sunset” Social Security and Medicare in five years. If Republicans win this fall, kiss Social Security and Medicare goodbye.
McCarthy’s plan was just tried in Britain. Liz Truss resigned after 44 days, becoming Britain’s shortest-serving prime minister. Her economic plan had massive tax cuts for the rich and brutal cuts to their versions of Social Security and Medicare. It crashed Britain’s financial markets, drove the pound to record lows, and prompted a newspaper to ask “Will Liz outlast this lettuce?” which it live-streamed online. The head of lettuce won.
Republicans loved Trussonomics. Fox Business host Stuart Varney called it “wonderful.” Trump praised it. Trump’s chief economic advisor Larry Kudlow said “Truss has it exactly right,” adding it “looks a lot like…Kevin McCarthy’s Commitment to America plan.” McCarthy’s plan will make permanent Trump’s 2017 GOP tax scam, which gave $1.5 Trillion in tax cuts to the wealthiest 1% and exploded the national debt.
Republicans, including Ted Budd and David Rouzer, voted against the Affordable Insulin Now Act, the Inflation Reduction Act, and allowing Medicare to negotiate lower drug prices. They opposed the Consumer Fuel Price Gouging Prevention Act, the Lower Food and Fuel Costs Act, and refused to extend the Child Tax Credit. While Democrats fight to protect average Americans from inflation, Republicans only care about shoveling more money to their rich contributors.
The Republican plan really IS a lot like Truss’s. It’s also like that old head of lettuce: rotten.
Robert Bannerman
Supply