could be up to 6 million jobs lost and a stock market decline that could eliminate $15 trillion of household wealth., in which case McCarthy would be in line to be speaker of the House.
His comments on seeking spending cuts and using the debt ceiling as a weapon are consistent with other GOP members who are positioning themselves for powerful positions within the next Congress.
Three members who would potentially taver over as House Budget chair told Bloomberg that they’re considering changes to Social Security, Medicare and other social welfare programs in order to reduce their costs, including potentially raising the eligibility age. Smith said the focus could be on “welfare reform, making sure that work requirements are put in place for able-bodied healthy adults. We need to make sure income verification are in place for welfare programs.” Rep. Jodey Arrington, R-Texas, said work requirements for food stamps should be written into law as well.