Biden blasts Kevin McCarthy on debt limit
Last updated on September 25th, 2023 at 02:58 pm
At a speech on Tuesday, President Biden took apart Kevin McCarthy and House Republicans for their debt ceiling bill.
Video:
President Biden said:
No billionaire should be paying a lower tax rate than a construction worker, a schoolteacher, firefighter, cop, nurse. I mean it. It’s wrong it’s simply wrong.
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The Speaker of the House went to Wall Street last week, cut discretionary spending by 22%, including the ones I just named. Programs, millions of middle-class count on at the same time they’re pushing tax giveaways for the wealthiest Americans and biggest corporations they’d rather see kids and seniors struggle for what they need. People on Medicaid lose their health care. Veterans lose access to doctor’s visits that’s part of it, by the way, not a joke and cut subsidies to big oil that made $200 billion and big pharma, the wealthiest corporations I’m not even talking about raising taxes, just stop the subsidies.
The same old trickle-down dressed up in MAGA clothing. Only worse because this time they’re saying if they get their way, they will let the — if they don’t get the way, if Biden doesn’t agree to them, agree to cuts and these tax increases for others, working people, they’re going to let the country default on its debt. This is a debt that took over 200 years to accumulate. The last administration alone increased the debt by nearly 40% in four years. And every single time they passed the debt ceiling without any question default would be totally irresponsible.
It would mean cuts in social security, medicare, higher rates for your car loans, mortgages. The entire economy put at risk. Moody’s, the economic operation that comments on the economy, they said that the Republican plan would cost us 780,000 jobs. 780,000 jobs working and middle-class seniors paying the price.
The speaker likes to quote President Reagan I love these guys how they selectively quote people including making up quotes for me. Well, President Reagan made it clear we pay our debts here’s his quote from him. He said the United States has a special responsibility to itself and to the world to meet its
obligations. It means we have a reputation for reliability and credibility.
President Biden is running circles around Kevin McCarthy on the debt limit debate. The bill that McCarthy is hoping to pass later this week is a gift to Democrats.
Kevin McCarthy appears to be an empty suit who isn’t running the show for House Republicans. The extremists like Rep. Marjorie Taylor Greene are in charge, and they believe that they can take the US economy hostage and threaten the American people into giving them what they want.
President Biden is using the debt limit to define the entire Republican Party, and his degree of success may determine of Democrats take back total control of the US government in 2024.
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