Early this morning, Kevin McCarthy finally won on the 15th round of voting for Speaker. In return, the right-wing Freedom Caucus got a promise from McCarthy that he would not approve a simple increase in the debt ceiling unless spending was held back at 2022 levels — which, with more than 7 percent inflation, would require huge cuts in everything from defense spending to Social Security and Medicare. And if McCarthy breaks his promise, any member of the Freedom Caucus can move to remove him from the Speakership.
For years now, a major goal of the extreme right has been to undermine Social Security and Medicare, the most popular programs in the federal government. The extremists will not succeed. But the coming fight over raising the debt ceiling seems likely to become the defining battle over the next six months.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.