Smith: Yellen Issues Latest Debt Limit Warning While Washington Democrats Fight to Protect the Wealthy and Wall Street Profits

Press Release

"President Biden's runaway spending and refusal to negotiate with Republicans in good faith is threatening seniors who rely on their Social Security checks to buy groceries and pay rent. Democrats' Inflation Reduction Act spent so much on special interest tax breaks for the wealthy and big corporations that make over $1 billion in sales, that we are now being told Treasury may be unable to cover vital programs like Social Security and Medicare come June. Republicans did their part to make sure the bills for these programs continue to get paid well beyond next month by passing the Limit, Save, Grow Act, which will prevent this crisis, cut spending, and grow the economy, yet President Biden is doing nothing. He has no plan that can pass either chamber of Congress and is only increasing the likelihood of disaster by refusing to negotiate and figure out a plan which can avert this looming crisis."

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