Democratic presidential candidate Marianne Williamson has criticized House Speaker Kevin McCarthy's resolution on spending cuts saying it's the poor he wants to pay for his notion of fiscal responsibility.
"You, Mr. Speaker, are more than happy to spend "money we don't have" as long as it's on tax cuts for the very wealthy or subsidies for your corporate donors. The only ones you want to pay any sacrifice for your ill begotten notion of "fiscal responsibility" are the poor and disadvantaged," Williamson said in her reply to McCarthy's tweet.
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The House Speaker had said he is unwilling to yield on spending cuts after a phone call with President Joe Biden. "Just got off the phone with the president while he's out of the country. My position has not changed. Washington cannot continue to spend money we do not have at the expense of children and grandchildren. Tomorrow, he and I will meet in person to continue negotiations," McCarthy had tweeted.
The debt ceiling crisis still remains unresolved even after Monday's meeting between Biden and McCarthy. The House Speaker said the meeting was ‘productive,' but asserted more work needs to be done. However, despite the continuing impasse, the Nasdaq Composite closed at its highest level since August.
The SPDR S&P 500 ETF Trust SPY closed 0.04% higher on Monday while the Invesco QQQ Trust Series 1 QQQ gained 0.34%, according to Benzinga Pro.
Take On Economy: Williamson has also spoken against Biden's economic policies saying she agrees with the majority of Americans who believe the country is on the wrong track. "You know, the President's message is basically that the economy is doing pretty well. The economy is doing pretty well for 20% of Americans," she stated in an interview with NewsNation.
"I believe that we have moved basically from democracy to oligarchy and we have the vast majority of wealth and more importantly than that, wealth creation opportunity in the hands of a very very small group of Americans. And the only way to fix that is through genuine and fundamental economic reform," she argued.
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