‘Global financial meltdown’: GOP plans ‘catastrophic default’ if Dems don’t cut Social Security and Medicare, critics warn

Top House Republicans are planning to threaten to shut down the U.S. Government by refusing to raise the debt ceiling next year in a scheme to force Democrats to cut Social Security, Medicare, and Medicaid, should they win the House in November critics warn, pointing to a Bloomberg report.

"Social Security and Medicare eligibility changes, spending caps, and safety-net work requirements are among the top priorities for key House Republicans who want to use next year's debt-limit deadline to extract concessions from Democrats," Bloomberg Law reports. "The four Republicans interested in serving as House Budget Committee chairman in the next Congress said in interviews that next year's deadline to raise or suspend the debt ceiling is a point of leverage if their party can win control of the House in the November midterm elections."

U.S. Rep. Don Beyer (D-VA), chair of the Joint Economic Committee Democrats, an advisory committee created by law, blasted House Republicans, warning they "plan to hold the U.S. economy hostage with the threat of a catastrophic default to try to force cuts to Social Security and Medicare."

Aaron Fritschner, former Deputy Chief of Staff to Rep. Beyer tweeted: "House Republicans saying out loud that holding the debt limit hostage to demands for cuts to Social Security and Medicare is a 'top priority.'"

"If Republicans regain control of Congress, they are planning to threaten a global financial meltdown if they don't get their way on cutting Social Security, Medicare, and Medicaid," writes Media Matters for America's senior fellow Matthew Gertz.

"If Republicans regain power, they are coming for your Social Security and Medicare," he adds.

"The Republican plan to fight inflation is to cut Social Security, Medicare, and Medicaid," writes journalist and former Vox editor and co-founder Matthew Yglesias.

"Extreme MAGA Republican leaders openly threatening to cause economic catastrophe in order to achieve their dreams of slashing Medicare, Medicaid & Social Security," is how Speaker Nancy Pelosi's communications director, Henry Connelly, responds.

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