Robert ReichJan 19, 2023

RT @[email protected]

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

🐦🔗: https://twitter.com/RBReich/status/1615495006047068160

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
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@rbreich I am glad then President Clinton refused to cooperate with Republicans’ “economic blackmail.” I hope Biden does the same.

I remember, as you pointed out, after Republicans shut down the government, people were furious with Republicans and they suffered in the subsequent election.

Jan 19, 2023 at 2:33pmWeb