Mastodawn

Lunatech Jan 18, 2023

MAGA radicals are refusing to raise the debt ceiling unless Biden agrees to devastating cuts to Social Security and Medicare.

I was involved in a similar fight over the debt ceiling twenty-eight years ago, which holds some lessons for what happens now. https://robertreich.substack.com/p/back-to-another-horrible-hellish

Back to another horrible, hellish, horrendous, totally absurd battle over the debt ceiling

Friends, Treasury Secretary Janet Yellen just announced that the federal government will hit the limit on total federal debt on January 19, just two days from now. After that, the Treasury Department will be forced to take “extraordinary measures” to avoid defaulting on the debt, which would likely trigger a global financial crisis.

Robert Reich

betonglen Jan 17, 2023

so exhausted by their lining of their pockets on the backs of people in need

Darwin Woodka Jan 17, 2023

@rbreich well we could just cut congressional salaries of anyone who won't raise the debt ceiling...

Gurtbeef Robe Jan 18, 2023

@darwinwoodka @rbreich irrelevant. Their salaries only matter for the first few years they are in office. They all are millionaires and a $170k salary doesn’t make you one. It’s the shady investments and dirty fundraising that makes them all so rich

Victoria Jan 17, 2023

@rbreich
They really are willing to burn it down. And I imagine they are shorting the market for their own gains. First thing: reinstitute taxes cut under trump.

Patricia Kayden Jan 17, 2023

@rbreich And President Biden has zero reasons to budge. Let them shut down the government. Democrats should be vocal about putting the blame where the blame belongs -- strictly on Republicans.

Gurtbeef Robe Jan 18, 2023

@kaydenpat @rbreich 99% of magats have no idea trump added to the debt, let alone $7 trillion. They think he cut it. Dems need to be screaming this

Stu Duerson, machina exo deus Jan 17, 2023

The low hanging fruit has been picked off the tree by the oligarchy's yard help. Now they're going for the rest.

Cleanair Avatar Jan 18, 2023

@rbreich If they don't make cuts, then where will they get the money to line their pockets.

SaftyKuma Jan 18, 2023

What do you think of "Minting the Coin?"

David Burns🌹Jan 18, 2023

@rbreich I'm pretty sure this has been the project of the Republican party for 88 years, we can just say Republicans, they're all MAGA.

And, IDK, since these monsters are on a warpath to ensure that people like me will never have social security, a home, affordable childcare, medicare or a livable planet, so maybe we should just default and send the world economy into a massive collapse so these goons can score more points on cable news/Facebook.

I'd rather the Democrats have some convictions and defend social security and medicare are programs uncompromised and let the ghouls in elephant suits take their masks off. The base doesn't care or doesn't think they'll actually kill these programs and I'd honestly just like to see what happens.

Danielle Jan 18, 2023

@rbreich how can they even talk about cutting entitlement programs? “Entitled” means we’re entitled to the benefits, because we paid into them for our entire working careers. Do the republicans plan on giving Jack to us all the money we put into SSI back? I think it’s a legal non-starter for them to gut the program. They need to stop with all the ridiculousness and start working for all of us.

Bruce Plante Jan 18, 2023

@rbreich But why is Clinton smelling your hair?

Tom Morris Jan 18, 2023

@rbreich
Isn’t the so-called Debt Ceiling prohibited by the 14th Amendment? Any way to bring the matter before the Supreme Court?

Gurtbeef Robe Jan 18, 2023

@thmorris @rbreich I don’t know but it’s the stupidest policy we have. They vote to approve the programs with the funding and then they have to vote to approve it again bc it increases debt? Why not just do it all at once. Waste of time

Mark R. Stoneman Jan 18, 2023

@rbreich How about ignoring Congress on the debt because it contracted those legal debts, and the 14th amendment says the public debt must be honored?

ShadSterling Jan 18, 2023

@rbreich I liked the plan of saturating the districts whose reps vote against raising the ceiling with messaging about what’s being shut down and why

Or the executive branch could look at the laws saying to pay and the laws imposing the limit and decide the best way to faithfully execute the conflicting laws is to ignore the limit

Going forward, legislators should build limit increases into every bill that has expenses

Gurtbeef Robe Jan 18, 2023

@rbreich 90% of magats have no idea that they added anything to the debt, let alone $7 trillion. Dems need to be blasting this messaging so that it gets through fox and the other safe space blockers

Gurtbeef Robe Jan 18, 2023

@rbreich so this will all boil down to how Biden views the gop. If he’s realized they are domestic terrorists trying to screw everybody, then we’ll be ok. If he still thinks they are his buddies who want to make our country better, then we’re screwed. Btw, the reason they were his “buddies” and worked with him as a senator were bc he was a right wing dem who was doing the gop’s work for them!

Rick Jan 18, 2023

@rbreich
“Should any political party attempt to abolish social security unemployment insurance and eliminate labor laws and farm programs you would not hear of that party again in our political history. There is a tiny splinter group of course that believes you can do these things. Among them are a few other Texas oil millionaires and an occasional politician or businessman from other areas. Their number is negligible and they are stupid.”

― Dwight D. Eisenhower

Jerimiah Ham Jan 18, 2023

@rbreich Mint the Coin! #mintTheCoin

Kitsy Jan 19, 2023

I remember this. I started paying attention to you then, too.