After talks between President Joe Biden and House Majority Leader Kevin McCarthy ended in a stalemate yesterday, The National Republican Congressional Committee announced a paid digital advertising campaign targeting 35 vulnerable House Democrats “for their addiction to reckless spending that is putting America on the brink of debt default.”
The NRCC’s ad campaign entitled “Addicted” targets Reps. Susie Lee, Dina Titus and Steven Horsford on the debt crisis referring to them as “Extreme Democrats” who “are addicted to spending your money.”
“Democrats maxed out our nation’s credit card with reckless spending.Jacking up inflation to historic highs. Now they refuse to solve the spending crisis they created. Voting against a common-sense plan to: Tackle the government’s spending problem, Cut red tape, And curb our dependence on China. Our economy hangs in the balance. 7 million people could lose their jobs. Extreme Democrats are addicted to spending your money. And you are paying the price.”
NRCC Chairman Richard Hudson (R-NC) issued a blistering statement: “Extreme House Democrats demand to keep spending our money like drunken sailors or they’ll tank the economy and allow America to default. Every House Democrat said ‘no’ to addressing the spending crisis they created – if they won’t pay the tab they racked up, then they’ll pay at the ballot box.”
According to the Federal Reserve, the debt for every US tax payer is $247,766. The US federal debt to GDP ratio is 120 percent.
Last month, House Republicans passed the Limit, Save and Grow Act which would impose sweeping cuts to federal discretionary spending, impose new work requirements for welfare recipients and expand mining and fossil fuels production, all in exchange for raising the debt limit for about a year. In total, the House Republican plan would reduce deficits by about $4.5 trillion over the next decade.
Democrats have soundly rejected the bill, claiming that Republicans want to repeal the Inflation Reduction Act (IRA), their “signature piece of legislation.” According to the Tax Policy Center, the Limit, Save and Grow Act would rescind many IRA clean energy tax incentives in exchange for a temporary increase in the federal debt limit, and repealing those tax breaks “would reduce after-tax incomes in 2024 by an average of 0.2 percent ($810) for those in the top 20 percent of earners (who make at least $195,000 a year), while low- and middle-income households would face smaller increases.”
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