Analysis: Big Food Kept Raising Prices While Giving Investors Billions in Giveaways
REVEALED: Alaska Governor Funded Group that Aimed to Sow Division Amongst Indigenous Groups
RealPage-Linked Corporate Landlords Continue to See High Earnings Amid Needless Rent Hikes
Merck, BMS Rake in Billions as Big Pharma Continues Price-Gouging Campaign
Visa, Mastercard Continue to Reap the Benefits of Duopoly Power at Small Business’ Expense
Site Menu

WASHINGTON, DC — Rep. Matt Gaetz (R-FL), prominent member of the fringe-right Freedom Caucus which largely calls the shots in the extreme MAGA House Majority, just admitted out loud and proud that he and fellow conservatives in Congress consider the economy and debt limit “our hostage”. The stunning declaration comes as Freedom Caucus members  insist they will not accept anything less than the extreme House default bill that punishes millions of low-income veterans, seniors and children while undermining public safety and costing 8 million Americans their jobs. Gaetz and other Freedom Caucus members have also spent the day spreading patently false and reckless misinformation that the default X-date is made up despite the leading authority – the U.S. Treasury – warning default is imminent as early as June 1st. 

“

A key player in the extreme MAGA House Majority now admits what anyone paying attention has suspected all along: Congressional Republicans consider the U.S. economy and millions of jobs a ‘hostage’ while making unreasonable austerity demands that especially hurt low-income veterans and seniors. Anyone who doubts the looming default crisis and recession is not entirely manufactured by the MAGA majority need only give the fringe Freedom Caucus a call and hear it from the horse’s mouth.”

Jeremy Funk, spokesman for Accountable.US.

BACKGROUND: Accountable.US’ ‘Cost of MAGA Default’ project has put a daily spotlight on specific harms the MAGA Majority’s default plan and brinkmanship will bring for Main Street and Wall Street alike – from tanking markets, frozen credit, lost jobs, disruptions to critical benefits like Social Security, and soaring interest rates on everything from car loans to mortgages. While the MAGA Majority claims they are holding the economy hostage over supposed debt ‘concerns,’ they insist on harmful cuts – crafted by the far-right House Freedom Caucus – aimed at average Americans while protecting and even expanding debt ballooning tax breaks for billionaires and big corporations that profiteer and ship U.S. jobs overseas. The clock is ticking. The MAGA majority should stop playing dangerous political games with American lives and the economy and responsibly pass a clean bill that allows the nation to pay its bills. The sooner they do, the less damage will be inflicted on Americans of all walks of life.

The extreme MAGA House Majority is threatening to manufacture a catastrophic default crisis and economic collapse. To hold the economy hostage, the House passed a long list of hugely unpopular and extreme ransom demands that promise pain for millions of average Americans including veterans, seniors, students, children, workers, and the food insecure. They voted to ship 100,000 high paying manufacturing jobs overseas while going out of their way to protect wealthy tax cheats that shift costs on average Americans. The MAGA Majority’s proposed cuts that especially punish the poor and untenable, unworkable, and unreasonable, especially as they leave in place costly tax breaks for billionaires and big corporations.  They’ve drawn “red lines” that any debt deal must include ineffective work requirements that fail to put people to work while leaving many more uninsured. With the nation now projected to run out of money as early as June 1st, Accountable.US’ Cost Of MAGA Default’ project continues to underscore the catastrophic consequences of a MAGA default that grows closer by the day.

back to top