Republican Budget Plan Bankers and Plutocrats First

Robert Borosage

Conservative Republican legislators have vowed to block raising the debt limit to force deep cuts in spending on everything from head start to K-to12 education, to health research.

They vow to combine blocking any increase in the debt limit with instructions mandating the Treasury to pay “creditors” first, cutting off programs for the elderly, women and children.

Who are these creditors? Bankers and plutocrats mostly. The rich and the deep pocket instiutional investors. And, of course, the Chinese central bankers.

Conservatives on the Titanic: bankers and plutocrats first. Leave the women and children to swim on their own.

No surprise there. We know who they are.

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