The president slammed Republicans for working to 'increase prescription drug costs, health insurance costs, and energy costs while giving more tax breaks to big corporations and the very wealthy.'
"MAGA Republicans' extreme agenda would make inflation much worse: plotting to repeal lower prescription drug costs, give tax breaks to the ultra-rich, and slash Social Security and Medicare,"Rep. Don Beyer , chair of the congressional Joint Economic Committee, added in a
that"stronger-than-expected GDP growth in the third quarter, which made up for all the losses incurred by the declines in the first and second quarters, reflects confidence in the resilience of the U.S. economy."to use the debt ceiling as leverage to cut Social Security and Medicare if they retake control of Congress.
"They are threatening debt default and economic catastrophe to gut Social Security and Medicare, which could eliminate nearly six million jobs and cost the U.S. billions of dollars in lost economic activity," said Beyer."Republicans are threatening to repeal the Inflation Reduction Act, which would raise prescription drug costs and health insurance premiums.
Republicans have made the economy, and inflation in particular, central to their midterm attacks on Democrats. But the right-wing party's leadership and candidates have done little to spell out an alternative agenda that would bring prices down from a four-decade high—and some of their proposals, such as making former President Donald Trump's tax cuts for the rich permanent, would
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