House Republicans are Playing with Fire with Our Economy

https://hartmannreport.com/p/house-republicans-are-playing-with

'...Buckle up - we’re in for a wild ride that could spell worldwide disaster...the House Republican threat to crash our economy if Democrats don’t agree to gut aid to higher education, the EPA, Social Security, Medicare... is worse than most people realize. McCarthy’s goons really intend to follow through on their threat to cripple America if Democrats won’t go along with cutting entitlements for average working people and regulatory agencies.

House Republicans are doing this for two reasons...First, House Republicans think it’ll help them politically...Financial crises...are great opportunities for morbidly rich investors to make big money...The world’s 10 richest billionaires, for example, doubled their wealth since the pandemic started...Second, House Republicans have no sense of history... A default could throw us into a second Republican Great Depression that...“could last for more than a generation...If the GOP takes us into default...Moody’s Analytics’ Chief Economist Mark Zandi says it would wipe out as many as 6 million jobs and destroy $15 trillion in household wealth. Unemployment would rapidly spike, he notes, to at least 9 percent and the stock market would fall by a third.

Back in 2011 Boehner managed the negotiations around the debt ceiling, leading to a deal with Democrats that saved us from default...Boehner notes that he passed over McCarthy as Speaker when he retired...because McCarthy wasn’t willing to go along with the deal....McCarthy, whose willingness to burn the nation down in 2011 led to Boehner replacing him with Paul Ryan...'