Washington, D.C. — After Senate Republicans blocked the U.S. House-passed bill to suspend the debt limit and avert a government shutdown, effectively holding the economy hostage to the detriment of countless everyday Americans, government watchdog Accountable.US released the following statement:
“By refusing to raise the debt ceiling, Senate Republicans are holding our economy hostage for petty political games while working families are struggling to get ahead during the pandemic. In the Trump era, Republicans in Congress had no problem adding trillions to the debt with tax cuts for the wealthy and corporations, but now they’re hanging everyday Americans out to dry,” said Kyle Herrig, president of Accountable.US. “Make no mistake: Republicans’ debt limit brinkmanship will have detrimental consequences for the economy — and working families will be the ones paying the price.”
Last week, Accountable.US released an analysis showing around half of sitting Republican senators voted for three debt limit suspensions with little complaint during the Trump administration as it added over $7 trillion in federal debt — including most of the party’s current leadership.
One estimate shows that 97% of the current federal debt was incurred before President Biden ever assumed office. While Treasury Secretary Janet Yellen has warned of “absolutely catastrophic” consequences for financial markets and average Americans, Senate Minority Leader Mitch McConnell insists Republicans are “united in opposition to raising the debt ceiling,” dusting off their old obstructionist playbook from the Obama era that harmed the economy.
# # #