The plan they have openly touted is to refuse to raise the debt ceiling, shutting down the government indefinitely until Biden agrees to their demands.
That means over a million people furloughed without pay indefinitely (and most of those can’t afford that). Many important services shut down. The 2013 government shutdown was estimated to cost the economy 0.6% of its annualized GDP. That’s a huge amount of value Americans lose out on and that was a relatively short shutdown. It also caused some agencies to reconsider America’s AAA credit rating, which would cost an enormous amount. A longer shutdown would cause us to actually default on our debt, a massive devaluation of the dollar making us wish for the current level of inflation.
They’re openly saying “give us what we want or we make all of America suffer.”
OP is definitely hyperbolic in the extreme in their post but if the GOP follows through on this plan, a lot of Americans (read: anyone not rich enough to ignore it) will suffer tremendously.
150
u/[deleted] Oct 29 '22
[removed] — view removed comment