House Republicans Know That Voting NO on Debt Ceiling Is a Vote to Stop Paying Our Troops & Stop Social Security & Medicare Payments
From the Speaker’s Press Office:
Whatever Minority Leader McCarthy and Congressional Republicans say today, if they vote against raising the debt ceiling they know that it is a vote to let soldiers go unpaid and seniors go hungry.
In 2011, then-Whip McCarthy was charged with explaining the debt ceiling to House Republicans – including a “stunningly simple” presentation using slides with colorful flags to help them understand the implications:
And if Republicans don’t hike the debt ceiling, they’re told, Social Security payments will be stunted, debt will be downgraded, borrowing costs will skyrocket, the dollar will plunge and private hiring will freeze — a scenario McCarthy and fellow Republicans desperately want to avoid as they count GOP votes.
Today, House Republicans led by McCarthy are threatening to vote against raising the debt ceiling – a move that they well know will freeze military pay, halt Social Security and Medicare payments, and cause an economic catastrophe that would devastate working families across the country.
…it will put a stranglehold on everything from government payments to the ability to borrow, she cautioned.
“In a matter of days, millions of Americans could be strapped for cash,” Yellen said.
“Nearly 50 million seniors could stop receiving Social Security checks for a time. Troops could go unpaid. Millions of families who rely on the monthly child tax credit could see delays.”
The federal debt is the amount of money the government currently owes for spending on payments such as Social Security, Medicare, military salaries and tax refunds.
The debt limit allows the government to finance those existing obligations.
“Raising the debt ceiling doesn’t authorize additional spending of taxpayer dollars.
Republicans are choosing partisanship over paying our military and protecting seniors.