Seemingly every fall, the United States government and economy are taken hostage by the Republican Party refusing to extend the debt ceiling unless they can extract spending cuts to critical social programs, and this year is no different.
GOP leader Kevin McCarthy announced on October 18th that the GOP would be holding up the debt limit again if they take back power in November, and indicated that they would want spending cuts to critical programs like Social Security and Medicare.
Tell Congress to get rid of this ridiculous farce before it's too late!
As the policy director at the Hutchins Institute pointed out earlier this year, "the debt ceiling does not serve any useful purpose… It has not imposed any fiscal discipline on Congress." A default on American debt would be catastrophic for the economy, but Republicans are more than willing to make that happen if it means less spending on public goods and more money for corporate profits.
It would be quite simple for Democrats to simply abolish the debt ceiling entirely or raise the debt ceiling to, say, 600 quadrillion dollars and ensure that we never have to go through this nonsense ever again.
Stop Republicans from holding the government hostage once and for all!