Posted on 05/16/2023 5:10:43 AM PDT by Kaiser8408a
I used to think that The Kabuki Theater surrounding the raising of the US debt limit and passing a Federal budget would be over by now. But since Biden is being controlled by the hard left “Progressives” in Washington DC, he may be reckless enough to let the US default just so he can blame Republicans. And with our useless and deeply-biased main street media (MSM) just repeating Democrat talking points blaming Republicans, we may actually see a US debt default.
So while Yellen is warning that time is running out, notice she never encourage Blaming Biden to negotiate his insane budget downwards, we see a deeply inverted US Treasury short curve (2Y-3M).
(Bloomberg) Treasury Secretary Janet Yellen warned that “time is running out” to avert an economic catastrophe from failing to raise the debt ceiling, in remarks released as President Joe Biden and congressional leaders prepared to meet on the standoff.
Speaker Kevin McCarthy issued his own notice Monday evening ahead of Tuesday’s 3 p.m. gathering, saying, “We only have so many days left to deal with this.”
The Treasury chief issued a fresh letter to congressional leaders Monday restating that the Treasury risks running out of sufficient cash for all federal obligations as soon as June 1. The livelihoods of millions of Americans “hang in the balance,” she said in excerpts of her speech to the Independent Community Bankers of America Capital Summit released by the Treasury.
There is the evil Hobbit! Sending a letter to Congress essentially blaming McCarthy for the fiasco when Biden could downsize his budget request to reasonable levels. But Yellen is an authoritarian Statist, not a free market type.
(Excerpt) Read more at confoundedinterest.net ...
The RINO wing of the uniparty probably buttoned down the deal weeks ago.
Take it to the very (pretend) brink, get some concession that was added to the budget for this purpose, then congratulate each other all around for their hard bargaining and great statesmanship.
A part of me is starting to believe that crashing the economy is all part of their plan.
Not to worry, they will reach a “deal” at the last minute.
They always cave. ALWAYS.
Will they start showing that ad where the GOP push Granny off a cliff again ? LOL
They love to close the National Parks—great theater for the Mockingbird Media whores.
Hey, if we let the US Government go broke we can Build Back Better.
Republicans are silent even when the spin is their favor. As usual they are letting the Biden administration and the news media define the narrative.
The GOP should be screaming this narrative:
1). The Constitution gives the House of Representatives the power of the purse
2). The House has performed its duty. It has passed and sent to the Senate a bill to lift the debt ceiling.
3). The Democrat controlled Senate has refused to schedule a vote on the House bill. By failing to hold a vote, the Senate is obstructing the lawful Constitutional process and creating a crisis.
The issue today should be the Democrat Senate refusing to act, not McCarthy negotiating with Biden.
Why can’t the Republicans even articulate a message when they have a great story?
Maybe they ought to quit spending more than they take in. Cut welfare by 50% or more. The result is people will go back to work and pay taxes.
Biden is a LYING!
Yellin is full of it.
Treasury’s budget numbers show Biden’s using scare tactics. There’s no risk of default (EmJm Antoni, May 13, 2023)
There was NOTHING ‘bipartisan’ about Biden’s boys spending hundreds of billions of dollars on worthless WOKE projects - we don’t owe democrats the time of day.
They got themselves into this mess with their greed and they can find their way out on their own too.
If the country defaults it’s white liberal ‘elites’ and dependent democrat victim groups that will be hurt. Those are democrat groups. Maybe they’ll have to cut back on the thousands of new IRS agents or the goons and thugs running ‘intelligence’ and the FBI. Again, democrat thug groups.
DC works for the benefit of democrats... and only democrats. Default. It’s now or it’s next year or the year after.
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