The debt ceiling doesn’t reduce debt — it just creates one hostage situation after another, as Americans just learned the hard way.
by Karen Dolan, OtherWords
The Fiscal Responsibility Act of 2023, the debt ceiling deal President Biden signed into law recently, served its primary purpose: avoiding default on our nation’s debt, which would have plunged the economy into chaos.
President Biden also repelled the worst of the House Republicans’ demands, which included slashing social programs and government services by 60 percent. That would have utterly devastated everything from Head Start and Pell Grants to job training, housing and nutrition assistance, and even air traffic safety.
So talking points from the White House paint the bipartisan deal as a victory for ordinary people. But that isn’t the whole story.
The bill will still cut or freeze many programs that were already underfunded by the last debt ceiling drama in 2011 — even as it increases military spending by a whopping $28 billion, bringing the Pentagon to a shocking 56 percent share of the budget Congress sets each year.
Recent Posts
Accountability for the Gaza Genocide Can’t Focus on Netanyahu Alone
Take Action Now Getting rid of one bad leader won’t bring justice.By Jeet Heer, The Nation On Thursday, former US Secretary of State Hillary…
25 Years of War Was the Wrong Response to 9/11
Take Action Now Both Democrats and Republicans are responsible for these counter-productive choices, and the appalling human costs of these wars on…
How Status Quo Democrats Could Create Another Trump
Take Action Now A new study suggests Democrats’ broken promises won’t just cost them elections — they could fuel an even more dangerous MAGA…
The Pentagon Asked OpenAI for Artificial Intelligence Designed to Rarely Say No
Take Action Now The U.S. military’s desire for an AI tool with “minimal refusal rates” was revealed through a FOIA lawsuit filed by The Intercept.…