Debt Ceiling: Economist James K. Galbraith Warns GOP Proposal Would Gut Social Safety Net

[Uncle Joe]

U.S. Treasury Secretary Janet Yellen has warned Congress that the United States could run out of money to pay its bills by June 1 unless lawmakers raise the debt ceiling. House Republicans last week narrowly passed a bill to raise the debt ceiling, but only in exchange for sweeping spending cuts to numerous programs, including student debt relief, food assistance, Medicaid and renewable energy. Democrats, meanwhile, are pushing for a vote to raise the debt ceiling without imposing cuts, even as the constitutionality of the debt ceiling has been questioned by some legal scholars. For more on the debt ceiling, recent bank failures and other economic news, we speak with James Galbraith, economist and professor at the University of Texas at Austin.

[BumRushDaShow]

1. My mother was a Galbraith fan (the father)

I know she would reference his stuff - e.g., "The Affluent Society" (which came out when she was in her late '20s in the late '50s).

When I saw the name, I forgot his son was an economist as well!

[Rhiannon12866]

2. Thanks for posting! This very real danger the Republicans have put this country in needs to be spread

Far and wide!