JEC Chairman Beyer Slams Republicans’ “Economically Catastrophic” Plan to Gut Social Security and Medicare
Today, Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after House Republicans made clear their intentions to leverage future debt-limit negotiations to force cuts to Medicare and Social Security.
“While Democrats are passing legislation to cut costs for households, expand access to health insurance and spur job growth, Republicans have made clear their plans to gut Social Security and Medicare.
“House Republicans announced their intentions to hold the debt limit hostage in order to slash vital programs as part of a political game that would be economically catastrophic for seniors, families and our entire economy. Past debt-limit brinksmanship resulted in the first-ever downgrade of the U.S. credit rating and cost the country billions of dollars in lost economic activity, even though a default was ultimately avoided. This announcement comes after a previous proposal from the leader of the Senate Republicans’ campaign committee to sunset Social Security, Medicare and veterans’ benefits in five years.
“Republicans are once again getting in line to raise costs for low- and middle-income workers and families while offering giveaways to the wealthiest and corporate interests. Not only are these economically disastrous—resulting in fewer jobs, slower economic growth, and higher household costs—they are morally reprehensible.”