Letter to the Editor

Default crisis

By Doris Chorny, Wallkill
Posted 5/18/23

The Republicans have created a default crisis and are using it as blackmail. They are willing to put our economy in shambles to win on issues they couldn’t achieve otherwise. This is part of …

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Letter to the Editor

Default crisis

Posted

The Republicans have created a default crisis and are using it as blackmail. They are willing to put our economy in shambles to win on issues they couldn’t achieve otherwise. This is part of their overall strategy to negate everything Biden does in hopes of toppling his chance to win a second term.

Under Trump’s 2017 GOP tax cuts for corporations and the very wealthy, $1 trillion was added to our deficit and Republicans raised the debt ceiling for him 3 times without a peep, even while he eventually added $7.8 trillion to the debt. They now want to recast the deficit as a problem created by Biden and call for massive cuts.

Biden’s budget does call for cuts and plans for saving: he would save $3 trillion by discontinuing Trump’s benefits for corporations and the very wealthy. Biden would also empower the Internal Revenue Service to collect taxes that would add $200 billion to the government’s coffers. By negotiating drug prices, Biden’s budget saves $200 billion, and by cutting tax subsidies for oil companies, he saves $30 billion yearly.

Republicans act as if Biden’s proposals are not worthy. Their proposals would allow 8 million Americans to lose their jobs; they would allow 2 million families to lose access to medical care at community health centers, and 1.2 million poor families with young children would lose food assistance! The Federal Aviation Administration would close 125 air traffic control towers, making flying exceptionally dangerous.

Meanwhile, during Biden’s first two years in office he already reduced the deficit by $1.7 trillion.

When it comes to the subject of money, we taxpayers are wasting our money on a Congress that does nothing but fight to win losing battles.