Tell our Members of Congress: Raise the Debt Ceiling! Defend Us From Republican Blackmail!
Call BOTH of your Senators.
Contact the White House via their comment line or web form.
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Call Script
My name is __________. I am a constituent, and my zip code is _______. I am a member of Indivisible SF.
Speaker Pelosi, as the Democrats’ leader in Congress, you must pass legislation to lift the debt ceiling before the 117th Congress adjourns. You must prevent MAGA Republicans from taking the US and global economy hostage in the 118th Congress.
Senators Feinstein and Padilla: Under reconciliation, you need only fifty votes to pass legislation to lift the debt ceiling. You must do so now. It is the only way to prevent MAGA Republicans from weaponizing the debt ceiling in the next Congress as they have already threatened to do.
Background
What is the debt limit? The debt limit is a cap on the total amount of money that the federal government is authorized to borrow to fulfill its financial obligations. Like every other nation in the world, the United States runs budget deficits—meaning it spends more than it brings in through taxes and other revenue. So it must sell Treasury Bonds to investors to cover the shortfall. While the debt ceiling debate often elicits calls by lawmakers to cut back on government spending, lifting the debt limit does not authorize any new spending. It simply allows the US to pay for legislation Congress has already enacted and funded.
Political fights over raising the debt ceiling have been used by Republicans in the past with very detrimental long-lasting effects on the US economy, including a downgrading of our credit. On August 5, 2011, representatives from S&P announced the company's decision to give its first-ever downgrade to U.S. sovereign debt, lowering the rating one notch to "AA+” When credit is downgraded, interest rates rise, which increases the deficit and enlarges the debt.
Currently, the Democratic leadership in Congress is focused on avoiding a government shutdown on December 16, when a stopgap spending bill lapses. Negotiators are struggling to reach agreement on a sprawling government funding package, widely viewed as the last must-pass legislation in the 117th Congress. There are reports that Democratic leaders have given up on trying to pass legislation to lift the debt ceiling while they still hold unified power in Congress, which would be a grave strategic mistake, granting an extremist Republican Caucus the power to extort from President Biden and Congress cuts to Social Security, Medicare, and other domestic safety net programs next year.
References
Leaders Back Away From Raising Debt Ceiling, Punting Clash to New Congress, NY Times 12/09/2022
Tell the President and your Members of Congress: Stop Republican Blackmail, Indivisible SF. 11/15/22
Surprise, Surprise: Republicans Are Planning to Hold the Debt Ceiling Hostage—Again, New Republic, 12/1/22
Yellen warns of need to lift debt ceiling, Reuters, 11/12/22
Dimon says Democrats should act on debt ceiling before House GOP takeover, The Hill, 12/11/22
Debt Limit, U.S. Department of the Treasury