Democratic members of the San Diego congressional delegation have assailed the Republican debt ceiling plan as “extortion” that will harm families and veterans and “devastate” the economy.
“It’s outrageous that House Republicans are using extortion to extract devastating cuts to federal programs,” said Rep. Sara Jacobs, whose district is in central San Diego County. “Raising the debt limit should never be a political football — it’s about paying the debts we owe, maintaining our full faith and credit, and averting a catastrophic economic crisis.”
The House bill, which passed by a narrow 217-215 margin on Wednesday, would increase Washington’s borrowing authority by $1.5 trillion or until March 31, whichever comes first, raising the specter of another round of negotiations during the 2024 presidential campaign.
The bill would pare spending to 2022 levels and then cap growth at 1% a year, repeal some tax incentives for renewable energy and stiffen work requirements for some antipoverty programs.
Rep. Mike Levin said Thursday the Republican plan would force a 22% cut in non-defense spending, with $30 billion less for veterans services
“I am dismayed that my colleagues on the other side of the aisle are prepared to force a default and devastate our economy if we don’t go along with it,” said Levin, who represents north coastal San Diego County.
Jacobs said a default on the nation’s debt would cause more than 7 million people to lose their jobs and push the unemployment rate to 8%.
“I will do whatever it takes to ensure that we raise a clean debt ceiling to protect our hard-earned benefits and our economy,” she said.
During the Donald Trump administration, Republicans repeatedly voted to raise the ceiling without conditions.
Earlier this year the San Diego delegation’s sole Republican, Rep. Darrell Issa who represents East County, blamed the Democrats for the impasse.
“Democrats are now sitting back and washing their hands of any economic culpability while blaming Republicans for the fact that the debt ceiling has been reached,” he said. “None dare call this sincere.”
Rep. Scott Peters, who represents coastal San Diego County, and other members of the centrist Problem Solvers Caucus in Congress unveiled a bipartisan plan last week to avoid defaulting on the national debt this summer.
Their plan calls for suspending the debt ceiling through Dec. 31 to allow time to complete the normal Congressional budgeting process while creating a special commission to review and recommend steps to stabilize long-term deficits and debt.
Raising the debt limit doesn’t increase spending but allows the government to borrow to pay for existing commitments made by Congress. The Republican Party has frequently used the threat of default as a bargaining chip in negotiations.
A lengthy 2011 standoff over the debt ceiling led to a first-ever downgrade of the federal government’s credit rating, which rattled markets and raised borrowing costs.
