Dear MoveOn member,
We have 12 days left until the United States runs out of money to pay the country's bills, and yet Republicans continue to hold our economy hostage and refuse to raise the debt ceiling to avoid what Treasury Secretary Janet Yellen has described as "an economic and financial catastrophe."1
Instead, Republicans are using this crisis to score political points by making ridiculous demands for draconian spending cuts to health care, food programs, education, veterans' benefits, cancer research and more.2
Andra, we need to be clear-eyed about what will happen if the GOP follows the orders of Donald Trump and other MAGA extremists and allows the country to go into default.
- Sixty-six million Americans will stop receiving their Social Security benefits.3
- Stock prices could fall by as much as 45%, immediately erasing $10 trillion in household wealth and wiping out retirement accounts for millions of Americans.4
- There will be no system to pay 2.3 million federal workers, meaning everything from mail delivery to air traffic control could be disrupted.5,6,7
- The impacts could quickly turn into an unprecedented global financial crisis.8
The consequences are dire, but MoveOn has a plan to avoid this catastrophe.
Democrats need only five Republicans to break ranks and vote to raise the debt ceiling, which is why we are turning up the heat on the 18 House Republicans who represent swing districts that President Biden won in 2020 and are most vulnerable to losing their seats next year. We call them the Complicit Caucus because so far, despite masquerading as moderates, they have been complicit in elevating Kevin McCarthy, Marjorie Taylor Greene, and the MAGA agenda. They know that their constituents don't want them to follow the MAGA Republicans off a cliff and default—which is why we're turning up the heat now. We are participating in rallies, putting up billboards, running ads, and flooding their offices with calls from constituents—and it's putting them on the ropes.
There are 600,000 MoveOn members spread across these districts who are ready to ensure that these Republicans all lose their seats if they ignore their constituents. All we need to do now is make sure these representatives know what the consequences will be of their reckless actions.
Thanks for all you do.
–Justin, Amanda, Kelly, Evelyn, and the rest of the team
Sources:
1. "Yellen: U.S. faces 'widespread suffering' if debt limit not raised," Politico, May 16, 2023
https://act.moveon.org/go/173108?t=4&akid=352547%2E53570607%2EkCuxGy
2. "What's in the GOP bill to lift debt limit, cut spending," AP News, April 26, 2023
https://act.moveon.org/go/173109?t=6&akid=352547%2E53570607%2EkCuxGy
3. "Yellen: U.S. faces 'widespread suffering' if debt limit not raised," Politico, May 16, 2023
https://act.moveon.org/go/173108?t=8&akid=352547%2E53570607%2EkCuxGy
4. Ibid.
5. "Federal Civilian Employment," U.S. Office of Personnel Management, accessed May 18, 2023
https://act.moveon.org/go/173110?t=10&akid=352547%2E53570607%2EkCuxGy
6. "Number of Postal Employees Since 1926," United States Postal Service, accessed May 18, 2023
https://act.moveon.org/go/173111?t=12&akid=352547%2E53570607%2EkCuxGy
7. "Yellen: U.S. faces 'widespread suffering' if debt limit not raised," Politico, May 16, 2023
https://act.moveon.org/go/173108?t=14&akid=352547%2E53570607%2EkCuxGy
8. Ibid.
Want to support MoveOn's work? Voters just defied history and stopped a MAGA wave of extremism at the polls. But there is more work to do to end the filibuster, codify abortion rights into law, and defend our freedoms, our families, and our futures. We can accomplish all this and more, but only if we work together.
Will you chip in right now to power our critical work?
Click here to chip in $3, or whatever you can afford.
PAID FOR BY MOVEON POLITICAL ACTION, https://pol.moveon.org/. Not authorized by any candidate or candidate's committee. MoveOn Political Action - PO Box 96142, Washington, D.C. 20090-6142.
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