After shrinking federal revenues by slashing taxes for giant corporations and billionaires, House Republicans are now demanding huge spending cuts to reduce deficits, but not to the defense budget; which leaves Social Security, Medicare, and Medicaid. (The rest of the federal budget is puny by comparison.) President Biden, having learned from the 2011 debt ceiling fight, is refusing to negotiate.
So preening GOP House leader Kevin McCarthy bleated to reporters, “Here’s the leader of the free world pounding on the table, being irresponsible, saying ‘no, no, no, just raise the limit, make us spend more.’ No. That’s not how adults act. Let’s find common ground, and let’s eliminate the wasteful spending to protect the hard-working taxpayers.” (See story here.) Rescinding the billionaires’ tax cuts is, of course, off the table.
See photo of the “hard-working taxpayers” McCarthy is protecting below.
