White House Says 'Extreme MAGA Republicans Holding The American Economy Hostage' With Debt Plan

The White House on Thursday slammed the long-awaited GOP debt limit proposal announced on Wednesday by Speaker Kevin McCarthy (R-CA), calling it a "blueprint to devastate hard-working American families" - and invoking "MAGA" not once, but twice.

"Yesterday, Speaker McCarthy sided with the extreme MAGA wing of his conference and released a blueprint to devastate hard-working American families. MAGA House Republicans are holding the American economy hostage in order to take a hatchet to programs Americans rely on every day to make ends meet," said White House press secretary Karine Jean-Pierre in a statement.

The bill pairs a debt ceiling increase expected to last into next year with what McCarthy said would be about $4.5 trillion in savings generated in part by cutting Biden administration priorities.

It aims to raise the debt limit by $1.5 trillion or through March 31, 2024, whichever comes first, and it proposes reverting discretionary spending caps to fiscal 2022 levels while limiting growth to 1 percent annually over the next decade. -The Hill

According to Jean-Pierre, House Republicans who vote for the bill will be voting "to cut education, veterans medical care, cancer research, meals on wheels, food safety, and law enforcement," adding that they would also be voting to offshore American manufacturing, reduce health care for Americans, threaten food assistance for older Americans, boost energy bills, raise taxes and "protect wealthy tax cheats."

"That stands in stark contrast with President Biden’s Budget, which Invests in America, lowers costs for hardworking families, and cuts the deficit by asking the super-wealthy and largest corporations to pay their fair share," she continued.

House Minority Leader Hakeem Jeffries compared notes with the White House, saying in a Wednesday night statement "House Democrats will oppose any effort to hold the economy hostage as part of any scheme by Extreme MAGA Republicans to jam its right-wing agenda down the throats of the American people."

The Biden team has been peppering the "Extreme MAGA" messaging in for weeks...

Never mind the 'extreme inflation' most Americans are feeling, thanks to the Biden administration.

CNN noted that the GOP plan "would avoid a default" despite Jean-Pierre's dramatic performance.

The GOP bill is expected to get a House floor vote next week.

(Article by Tyler Durden republished from Zerohedge.com)

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