LEADER JEFFRIES: "WE FIND OURSELVES IN THE MIDST OF A GOP-MANUFACTURED DEFAULT CRISIS"

Press Release

Date: May 18, 2023
Location: Washington, DC
Issues: Monetary Policy

Today, Democratic Leader Hakeem Jeffries held his weekly press conference where he emphasized that House Democrats remain committed to protecting our economy from a catastrophic default, while extreme MAGA Republicans continue to hold our economy hostage while shielding serial fraudster George Santos from any accountability.

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Leader Jeffries Speaking at Weekly Press Conference flanked by posters bearing images of Representative George Santos flashing peace signs (left) and Representative Marjorie Taylor Greene booing during the State of the Union

Leader Jeffries: Good Morning. We find ourselves in the midst of a GOP-manufactured default crisis because House Republicans have chosen to try and hold our economy, our small businesses, everyday Americans hostage to unreasonable ransom demands that many of their Members continue to put in the public domain. The extreme MAGA Republican position continues to be, for many of their Members, that we need draconian cuts to Medicaid for disabled children and seniors throughout the country. We need draconian cuts to education, draconian cuts to health care, draconian cuts to law enforcement, draconian cuts to Homeland Security and draconian cuts to food and nutrition programs that benefit millions of food-insecure Americans.

That's the Default on America Act, and that's the position that many extreme MAGA Republicans continued to articulate throughout the week. Take it or leave it. Essentially, saying to the American people that there are only two options on the table, as far as the right-wing extreme ideologues see it: the Default on America Act, that will be devastating for millions of everyday Americans across the country, or default, which would have catastrophic consequences for the economy, trigger a job-killing recession, crash the stock market, which is going to hurt millions of retirees in their golden years, and skyrocket costs all across the country.

Default on America, extreme MAGA Republican legislation, or an actual default? That's an untenable position, but many extreme MAGA Republicans in the House continue to say that's their bottom line, which is not a reasonable negotiating or governmental position. It is hostage-taking and I think it's going to be important for the American people to understand why we are where we are right now. It's because you've got Republicans in the House of Representatives who have made the determination that we are going to jam our extreme right-wing ideology down the throats of the American people using the threat of default in order to get our way. That's irresponsible governance. And over the next week or two, it's certainly my hope that calmer, reasonable heads will prevail on the other side of the aisle and they will veer off this course toward a dangerous default.


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