'They don’t care about the deficit,' said IlhanMN. 'They care about transferring wealth from the working class to their billionaire friends.'
earlier this week, Josh Bivens and Samantha Sanders of the Economic Policy Institute dismissed as"laughable" House Speaker Kevin McCarthy's claim that the Republican proposal"would put the United States on a path to 'fiscal responsibility' and lower inflation.toward ever-larger tax cuts for corporations and the richest U.S. households," Bivens and Sanders wrote.
"This is the next milestone in House Republicans' attempt to play a game of dangerous political brinkmanship with the U.S. economy, trying to harmful and deeply unpopular federal spending cuts in exchange for increasing the debt limit," they added."This approach recklessly flirts with bringing on the economic catastrophe of a government default in the short term."that the bill"represents failed trickle-down economics at its worst."
"The bill would make severe cuts—$3.6 trillion over the next decade—to the part of the budget that funds childcare and preschool, schools, college aid, housing, medical research, transportation, and many other national priorities," Parrott noted."Even as the bill makes these drastic, damaging cuts, it protects the wealthy from paying what they owe in taxes by repealing IRS funding enacted in the Inflation Reduction Act.
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