Home » McHenry Aiming for a Second Great Depression

McHenry Aiming for a Second Great Depression

by The Urban News
Rep. Patrick McHenry
By Moe White –

With the Republican majority in the House of Representatives, WNC’s other representative, Patrick McHenry, has become an even more powerful right-wing Congressional leader.

This summer and fall, as the White House, Senate, and House discuss the 2023-24 budget, watch for McHenry, of NC’s 10th district, to be a major proponent of cutting Social Security, Medicare, Medicaid, and every other program the government operates to support the pubic.

“That is the biggest challenge in this Congress,” said McHenry, a top ally to McCarthy, in an interview after the final vote for Speaker of the House. He specified that “debt, deficit and the fiscal house — that is a major priority for House Republicans.”

In 2011 the newly empowered Republicans threatened President Obama with default, demanding slashing cuts to domestic programs before they would raise the debt ceiling. At that time just the possibility that the US might not be willing to pay its bills rattled markets worldwide, lowering the entire nation’s credit rating for the first time in history and costing American taxpayers over $1 billion just in increased interest payments. Dow Jones fell by more than 2,000 points in the chaotic fight.

Ever since the Reagan years (1981-88), and especially since Newt Gingrich gained power in the early 1990s, the Republican Party has been determined to eliminate Social Security for all senior citizens by handing it over to the private sector—that is, to allow Wall Street bankers and brokers to manage public funds and rake off profits before sending what’s left to senior citizens. They’ve also prioritized removing the entire “safety net” of government support for individuals, including Medicare for seniors, Medicaid for the poor, and Obamacare for the middle class.

Under their plans, there will be no more national parks, no more EPA to ensure clean air and water, no more federal support to build or repair bridges, roads,…

Read the full article here

Have information to send to Urban New Now? Contact our reporters. Advertising inquiries? Contact us. Opinions? Email us.

You may also like

About Us

Urban News Now is your number one website for the latest news affecting the Black community. Follow us now to get the news and updates that matters to you.

Feature Articles

Subscribe to our newsletter to get the latest news and updates. Let's stay updated!

Copyright © 2023 Urban News Now – All Right Reserved

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More