'Here's the news media's takeaway on the debt ceiling deal: Yay! Bipartisanship works! Here's the reality: GOP radicals held the economy hostage, Democrats paid the ransom, and bipartisanship is badly broken.'
President Biden addresses the nation on the budget deal from the Oval Office of the White House in Washington, Friday, June 2, 2023."Here's the news media's takeaway on the debt ceiling deal: Yay! Bipartisanship works! Here's the reality: GOP radicals held the economy hostage, Democrats paid the ransom, and bipartisanship is badly broken.
"It was critical to reach an agreement and it's very good news for the American people," Biden said during his remarks from the White House. "No one got everything they wanted but the American people got what they needed. We averted an economic crisis and an economic collapse." But what Biden called a "big win for our economy and the American people," progressives—who argue the entire debt ceiling law is unconstitutional because it violates the 14th amendment and warned since last year that Republicans would orchestrate a crisis to protect wealthy tax dodgers and corporations while imposing fresh cuts on key social programs—should be seen for what it is: a kick in the face to the planet, democracy, and the material needs of poor and working-class Americans.
"Wall Street and corporate interests may be enthusiastic about this bill, but I believe it moves us in exactly the wrong direction." —Sen.Warren Gunnels, majority staff director for the Senate Health, Education, Labor and Pensions Committee chaired by Sen. Bernie Sanders , said on social media Friday, the final legislation—which Biden is expected to sign into law Saturday—should be seen as "a big win for the donor class and a big loss for the 99%.
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