Republicans in Congress - led by villain-in-chief House Speaker Kevin McCarthy - are pushing the U.S. government closer and closer to a federal default on national debt. If they refuse to strike a deal on raising the debt ceiling by Thursday, June 1
, the U.S. could be forced into a default for the first time ever.And if that happens, it's the everyday person who will feel the devastating effects as personal wealth dries up, retirement accounts topple, and assistance like Social Security ends.
Don't let Republicans punish the middle class just because they want all government to fail. Sign the petition to demand that Congress raise the national debt ceiling!
People who receive payments from government programs, including programs designed to help senior citizens, military veterans, low-income children, and more, would be the first people immediately impacted.
After that, the effects would spread.
As President Joe Biden correctly summarized: "Our economy would fall into a significant recession... According to Moody's [Investor Services], nearly 8 million Americans would lose their jobs."
According to Samantha Sanders, the director of government affairs and advocacy at the Economic Policy Institute, the only people who can fix this problem are the lawmakers in Congress: "This is going to sound a little bit depressing, but honestly, there's very little an ordinary person can do to prepare for a financial crisis at that scale." That means it is up to members of Congress to do the right thing.Republicans in Congress need to stop playing roulette with middle class families' wealth, savings, and welfare. They must raise the debt ceiling now to avoid a federal default. Even better, they must pass legislation to automatically raise the debt ceiling in the future, so we never have to go through this nightmare again!