The debt ceiling is a numerical limit, set by Congress, on how much money the federal government can borrow to pay its bills. Increasing the debt ceiling is a routine congressional task, but Republicans want to hold it hostage to make cuts to Social Security and Medicare, even though failing to raise the limit would cause massive economic devastation.
Republicans have said they want to extend the Trump tax cuts, which mostly benefited billionaires and corporations; cut spending on Social Security and Medicare; and repeal the Inflation Reduction Act, which lowered the cost of prescription drugs and raised taxes on corporations.
Top Republicans have made clear they plan to hold the global economy hostage to make cuts to Social Security and Medicare. Don’t believe us? Here are six separate times they’ve suggested—or outright said—they want to make cuts to Social Security and Medicare.
The bill lowers healthcare costs, incentivizes companies to adopt renewable energies and produce clean energy products; provides consumer rebates for those products, and delivers tens of billions of dollars of direct investments to American communities—funded by taxes on billion-dollar corporations.
Florida Sen. Rick Scott introduced a plan that would raise taxes and could end Social Security and Medicare for more than 2.8 million Pennsylvanians and eliminate Medicaid coverage for 3.5 million residents.
The best way to get started is to contact your local area agency on aging. They can help you learn more about programs you or a loved one may qualify for—such as Medicaid or OPTIONS—and provide information about adult day care centers or home care workers.