Rep. Eric Swalwell (D-Calif.) is among the Democrats very concerned about the prospects of Congressional Republicans’ plans for the economy.
It’s become necessary again to raise something called the debt ceiling, which is a legal limit on financial actions the federal government can take to deal with expenses to which officials previously agreed. In other words, it would cover government costs like expenditures from the Trump era — and dealing with the financial services costs associated with the federal debt that accumulated while Donald was in power.
Republicans have been — and for now, are staying — behind a plan that couples an increase in the debt ceiling with drastic cuts to government spending that could threaten critical offices and services across the federal government. Democrats have claimed the country could see a 22 percent slash in funding for many government operations to accommodate for the Republican ambitions to restrict the total amounts of spending, and that could negatively impact anything from services for veterans to lower-income Americans’ help. The alternative — failing to take the necessary legal action to deal with accumulating debt — could leave the economy in a quickly developing spiral, as so many basic expenses are among what’s covered by the debt ceiling.
“On the #DebtCeiling every Democrat needs to speak from same page: When you rack up a tab you pay it at the end of the night,” Swalwell argued on Twitter this weekend. “Under Trump, America’s debt grew 39%. It’s time to pay for that spending or we’ll be cut off and we all suffer. Tell Speaker McCarthy: Pay Trump’s tab!”
🚨On the #DebtCeiling every Democrat needs to speak from same page:
When you rack up a tab you pay it at the end of the night. Under Trump, America’s debt grew 39%. It’s time to pay for that spending or we’ll be cut off and we all suffer.
Tell Speaker McCarthy: Pay Trump’s tab!
— Rep. Eric Swalwell (@RepSwalwell) May 20, 2023
