Posted on 05/21/2023 9:08:51 AM PDT by Kaiser8408a
Its May 21st and Biden still refuses to budge on paring back his massively bloated budget of green energy payoffs. Yet Biden laughingly stated it isn’t his fault if the US defaults on its debt. It is absolutely 100% Biden’s fault and he should be impeached if he fails to meet Republicans half way.
(Bloomberg) Treasury Secretary Janet Yellen said the US is unlikely to reach mid-June and still be able to pay its bills, underscoring the urgency of the White House reaching a deal with Republicans to raise the debt limit.
“Well, there’s always uncertainty about tax receipts and spending,” Yellen said on NBC’s “Meet the Press” on Sunday. “And so it’s hard to be absolutely certain about this, but my assessment is that the odds of reaching June 15 while being able to pay all of our bills is quite low.”
Biden and McCarthy have been at an impasse since January over raising the government’s $31.4 trillion borrowing limit. The Treasury has been deploying special accounting measures since January to stay within the statutory ceiling.
“On June 15, there are tax payments that are made that are substantial,” Yellen told NBC. “But early June, I interpret as before that, and it would be very difficult to get to that date.”
This is coming from the former Federal Reserve Chair who raised interest rates once while Obama was President, then raises rates 8 time after Trump won the election.
Surprisingly, cryptos are down today despite Biden’s incompetence and Yellen’s dire warning. Atleast TRON is up!
Yes, Yellen is the same person who raised interest rates just once under Obama, then 8 times after Trump was elected. And Yellen is the same person who said inflation was transitory, yet remains elevated. Yellen is truly The Deep State’s fuiancial manager.
(Excerpt) Read more at confoundedinterest.net ...
Elections have consequences... the elites wanted Biden and they’ve got him.
Defaulting is bad, but World War III with nukes will be worse.
“ We do (did), his name was Trump.”
His name isn’t Trump. His or her name is EQ or Aevery or anyone else. Trump is the person we choose to lead our country.
Oh, the Government employees will all get paid. In every previous "government shut down" they have always been paid for what amounts to a short vacation. Their offices might shutdown, and they might be sent home. But they will get their money retroactively, once the Republicans surrender to the Democrats. Persons working in "essential activities" will stay at work and get their paychecks as normal.
Politicians are afraid of the bureaucracy.
The welfare checks will keep coming too, and they will be on time. Those folks will riot if they don't get their EBT deposits. The politicians are afraid of them.
The politicians are not afraid of the military. They will keep them working full time without pay for as long as the Republicans hold out. They will get retroactive payments once the Republicans surrender.
The people who get screwed are the ones working for government contractors or business that make substantial sales to the government. That money stops for the duration. Workers get sent home without pay and never get any retroactive payments of any kind.
I have seen every bit of this in previous "Government shutdowns". I expect this one to go exactly like the previous ones.
Congress spent $6.2 trillion in just 2 years of the Biden administration above the past spending. That created the massive inflation and high prices. They want to raise the budget.
They can cut $6.2 trillion.
Yes they will eventually get paid. Just not today. And the BS part of it is they probably won’t have to work and then get paid after.
Military doesn’t get to “not work”...so paying them later is fine. But the civilian work force that gets to stay at home should either use comp time, sick time, or vacation.
How much do all the other countries owe us? I think Finland is the only country that paid off all their debts after ww1.
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