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Weaponizing the Debt Limit Should Not Be Normalized

Josh Bivens and Samantha Sanders Economic Policy Institute
President Biden should do “whatever it takes” to avoid an economic catastrophe. House GOP-led efforts are to blame for the impending debt crisis. In 2011, the GOP’s demands for massive spending cuts sabotaged the Great Recession recovery.

Coming Soon: Bipartisan Deficit Hawks Calling for Austerity

Ari Rabin-Havt Jacobin
people waiting in line Right now, government money is flowing. But soon the self-appointed guardians of “fiscal responsibility” will call for cuts to Social Security, Medicare, and SNAP, while leaving the defense budget and large tax breaks for the wealthy intact.

A Budget Deal That's Bad For America

Dean Baker CNN
The biggest issue . . . is that this is a budget that will continue to impose a drag on the economy . . . While the stimulus approved by Congress boosted growth and added between 2-3 million jobs, the steep deficit reduction of the last three years has slowed the economy, costing millions of jobs. With the housing bubble gone, we are missing close to $1 trillion in annual demand and no mechanism in the private sector that will cause it to replace this demand on its own.

Deficit Fixed. Now Fix The Job Gap, Wage Gap And Trade Gap

Dave Johnson Campaign for America's Future
The "deficit problem" is man-made. The deficit is now down 60 percent as a percent of gross domestic product. It is down more than the deficit hawks Alan Simpson and Erskine Bowles asked for. This rapid reduction is seriously hurting the economy and jobs, but demands for cuts continue. It is time for Congress and the President to "pivot" to focusing on our real problems: the jobs gap, the wage gap and the trade gap.
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