They want to cut Social Security behind closed doors, without their fingerprints.

Medicare and Social Security put the lie to Wall Street’s insistence that private corporations are more efficient than what we can do together. Republicans are holding the debt ceiling hostage to try to destroy them.

This is a message from a partner organization of The Intercept and does not imply the editorial endorsement of The Intercept or any of its staff. Our partner organization will collect your name and email address if you participate in the action below.

Before the election, right-wing leadership in both the House and Senate declared their intentions to hold the debt ceiling hostage to demand cuts to Social Security and Medicare benefits.

This would be a disaster. Failure to increase the debt ceiling would wreck the global economy, producing a recession or even depression, and would weaken America’s standing in the world.

Failure to increase the debt ceiling would not do anything to limit future spending, it would simply... force the U.S. Treasury to default on its existing bonds.

Why is the new right-wing House majority making this threat? Because they have spent nearly a century resenting that Social Security works. It is a model of a simple, universal, and overwhelmingly popular government program. Our Social Security system puts the lie to Wall Street’s insistence that private corporations are more efficient than what we can do together.

Social Security and Medicare are overwhelmingly popular. So while Wall Street has wanted for decades to cut, privatize, or otherwise destroy them, they have never been able to overcome the significant popular backlash to those cuts. That’s why they’ve hidden behind fast-tracked commissions, committees, and processes like the one Mitt Romney proposed in his TRUST Act. They want to cut Social Security behind closed doors, without their fingerprints.

President Barack Obama attempted to negotiate with Republicans in order to raise the debt ceiling in 2011. Those negotiations yielded an agreement that prolonged the Great Recession, led to the downgrading of the United States’ credit rating, and nearly resulted in cuts to Social Security and Medicare. America is a democracy; we should not allow government-by-hostage-crisis to become routine.

Join Social Security Works and other progressive organizations and send this important message to President Joe Biden: Demand a clean debt ceiling increase!

YES, I'LL SIGN →

First Look Institute is a 501(c)(3) charitable organization (tax ID number 80-0951255).

The Intercept’s mailing address is:
First Look Institute
P.O. Box 27442
Washington, DC 20038

The Intercept is an award-winning nonprofit news organization dedicated to holding the powerful accountable through fearless, adversarial journalism. Our in-depth investigations and unflinching analysis focus on surveillance, war, corruption, the environment, technology, criminal justice, the media and more. Email is an important way for us to communicate with The Intercept’s readers, but if you’d like to stop hearing from us, click here to r0 from all communications. Protecting freedom of the press has never been more important. Contribute now to support our independent journalism.

Login Form