As republicans keep threatening to blow up the entire economy I think it’s important to spell out exactly what will happen if they succeed🧵 To start, full Social Security checks will immediately stop.
If republicans collapse the entire economy available credit will disappear, borrowing costs will explode, and small businesses will die.
If republicans collapse the entire economy banks will run out of cash and Americans will see the first widespread bank runs since the 1930s.
If republicans collapse the entire economy interest rates will skyrocket blocking new homebuyers from their home.
If republicans collapse the entire economy businesses and market funds holding US treasury bills will lose billions, wiping out regular investors.
If republicans collapse the entire economy millions will lose their jobs and the jobless rate could hit 20% or higher.
If republicans deliberately tank the economy it will be the biggest economic crisis since the Great Depression. The impacts would be cataclysmic.
@BillPascrell @TheMaverickWS Big Bear you hearing this.
@BillPascrell @threadreaderapp please unroll
@BillPascrell Even so, it will be fun to watch capitalists suddenly become socialists.
@BillPascrell Republican constituents should be calling these irresponsible GOP House members and asking them why they are being so reckless.
@BillPascrell Thank you, Bill for putting together these graphics. Some people refuse to read the details. Your graphics make it easy.
@BillPascrell Well some of them want that (Marge and company). They see it as a means of splitting the country apart. It won't work.
@BillPascrell This is what Republicans want because they think they can just blame it on President Biden and no one will notice Republicans forced it. They WANT suffering so people will give up, Rs can usher in authoritarianism, and Rs can take all the money.
@BillPascrell This is a #ClassWar. They are trying to steal as much money as they can & go hide in a bunker during the fallout.