Gop S Post Midterm Plan Could Crash U.S. Economy Budget Watchdog Says
In a multi-part interview with Punchbowl News earlier this month, McCarthy outlined an ambitious economic strategy should his party regain control of Congress this midterm cycle, including reversing a number of tax increases enacted under President Joe Biden’s Inflation Reduction Act alongside potential reforms to federal entitlement programs like Social Security and Medicare long seen as anathema to Democrats. To get there, McCarthy suggested Republican leadership was willing to use the federal debt ceiling—or a red line on the amount of debt the country can accrue before defaulting—as a bargaining chip to force Democrats to make a deal, harkening back to a similar style of brinkmanship with the federal budget not seen since the height of the Tea Party revolution of 2011....