An economic crash that is preventable is unacceptable and dangerous
🗽 People Power United champions progressive values and power to the people.
An economic crash that is preventable is unacceptable and dangerous. Everyone should care about this pending debt crisis and here is why: no one will escape harm in an economic downturn.
Millennials and Gen Z will be the first to see massive job loss and economic hardship. Estimates range from 6 million to 8 million jobs lost. Higher interest rates and credit card rates will make it hard for the younger generations to make basic bills. The cost of rent will rise. Education costs will skyrocket and college will become out of reach for many.
Resources will be diverted away from addressing the climate crisis. Estimates project that 401k’s, IRA’s, stocks, and savings will fall by up to 40%. Interest rates and a tightening job market will also prompt greater inflation and more shortages of basic goods. Furthermore, when a recession/depression hits, society experiences an increase in trauma triggers like domestic violence, alcohol and substance abuse, and many long term health issues.
The working class will have to contend with longer hours, loss of health insurance and benefits, and more. Individuals that depend on SNAP benefits, Social Security, Medicaid, or Medicare will see severe cuts to these programs. Schools and child care programs will receive less funding. Medication prices will increase, doctors visits will be missed, and many will not be able to keep up with the rising costs of food and shelter. Veterans stand to lose benefits they have earned.
And all of these things will disproportionately affect people of color, who are an integral part of the working class, who are at the forefront of the climate crisis and already impacted by environmental racism, and who already comprise a large part of the population of some of the most underfunded school districts.
We can and must address these inequities by contacting and pressuring our members of Congress to pass a clean debt ceiling. America can do better: we can lead by example by taking care of folks in our community, and paying our bills.
â•â•Please take 1 (one) minute and send a message to Speaker McCarthy: America is not a deadbeat nation, we pay our bills.
Bonus
It’s time to pass the Freedom to Vote Act and the John Lewis Voting Rights Act. Click here to send a direct letter to your member of Congress to support these bills.
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Everyone deserves to vote and thrive,
Laurie Woodward Garcia (paid with hugs and kisses, not bought by special interests)
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