Biden claims Republicans will crash the financial system on goal forward of midterms: ‘Mega-MAGA trickle down’

President Biden attacked Republicans in a speech in entrance of the Democratic Nationwide Committee headquarters on Monday, making an announcement that Republicans would “collapse the financial system” in an try and pressure compelled him to intestine Medicare.

Biden additionally took the chance to coin the time period “Mega-MAGA drip,” which is how he selected to check with Republican financial insurance policies. The president went on to nominate Home Minority Chief Kevin McCarthy, arguing that he and Republicans would improve the deficit by $3 trillion if their priorities had been handed. He additionally argued that the social gathering plans to make use of the deficit as a goal in opposition to him.

“Republicans have made it clear that in the event that they achieve management of Congress, they are going to shut down the federal government, refuse to pay our payments, and this would be the first time in American historical past that we are going to default – except I give in and minimize Social Safety and Medicare… They’re threatening federal default Nothing can create extra chaos, extra inflation, extra harm to the financial system American financial system,” Biden stated.

“Let me be clear: I can’t minimize Social Safety. I can’t minimize Medicare,” he continued.

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Republicans have blasted Biden’s spending program all through his presidency, significantly holding on to growing his funding to the IRS. Biden and Democrats have given $80 billion in funding to the company, enabling 87,000 new IRS workers.

Polls have proven an more and more dire image for Democrats within the ultimate weeks earlier than the November 8 midterm elections. A New York Occasions ballot final week confirmed 26 % of voters say the financial system is their most necessary situation, adopted by inflation and price of residing. at 18%. Abortion got here in third with simply 5%. Immigration additionally hit 5%, whereas crime rounded up the highest 5 at 3%.

The ballot additionally reveals that voters overwhelmingly belief Republicans to deal with points just like the financial system and inflation greater than Democrats.

President Biden’s vote rely has dropped since Democrats had been first boosted within the polls in July and August, dropping to 39% on Monday. A Fox Information ballot discovered that solely 33% of voters would select re-elect the president.

One other ballot from the Related Press discovered that 49 p.c of voters stated they had been extra prone to vote for the Republican candidate on Election Day, in contrast with 45 p.c who lean the Democratic Celebration. .

Nevertheless, Biden and Home Speaker Nancy Pelosi dismissed the polls, arguing that points like abortion would incite voters in opposition to the Republican Celebration.

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“Inflation is an issue, but it surely’s international. It is international. … What’s their plan? They do not have something,” Pelosi advised Punchbowl Information final week. “Whenever you cut back unemployment, inflation goes up. … So in any case, [President Biden] carry unemployment [down], minimize in half. So inflation is like that, but it surely’s international and never as dangerous as it’s in some nations. We must inform it higher within the subsequent three weeks. I feel we’re in nice form. Others do not need to imagine it. “