Most of the debt is held domestically, not by foreign entities. Defaulting screws ourselves.
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 ...
Trump gave the GOP his blessing. Default.
Squishes will bend forward and grab their ankles.
Oh no! How will we pay for all the hotel rooms, medical, food, transportation, etc. for the illegals. How sad!
I’ve looked over McCarthy’s budget numbers. His proposal raises the debt ceiling enough to cover all bills for this year and next, but calls back emergency covid funds that were unspent.
Yelled is following the Biden group which is controlled by Obama and his high worth backers.
Lower loan rate = less M2 money supply.
Money as debt.
This is Gingrich’s fault. If he hadn’t have caved in the 1990s to Clinton, none of what we’re experiencing today would be happening. In a sane world, we’d have Congress submit an annual budget to the President. Zero-based budgeting without the gimmicks. No more Continuing Resolutions or debt-ceiling fights. Just submit the budget and if the President refuses to negotiate then the government shuts down. Period, full stop.
Most of the debt is held domestically, not by foreign entities. Defaulting screws ourselves.
That won’t be a default though. It just means welfare, gov’t employees, and military don’t get paid. Or states don’t get their kickbacks.
“ Zero-based budgeting without the gimmicks. No more Continuing Resolutions or debt-ceiling fights. Just submit the budget and if the President refuses to negotiate then the government shuts down. Period, full stop.”
Put a petition online and demand this. Then get millions of supporters and signatures and go all social media and tell the politicians that if they do not commit to it, they will not get your vote. To make it interesting, add how transsexual ideology the left subscribes to is hurting girls and women to the web site and of course a donor button.
Our problem is while we have the power as a collective group to destroy the left, we don’t have the leadership. If the TEA Party had a leader, we wouldn’t be in the mess we we are in.
So the Demoncrats like her want to borrow even more money to alleviate the chances of the US defaulting on it’s debts.
So, how is this round of chicken in every pot, new deal/dilemma crap working out?
All those free lunches have to be paid for.
We the people did not elect the current resident nor his puppet string pullers
What is the DAILY US Govt. Revenue income collected- way over 300 Billion a day. We HAVE the money to meed all TRUE obligations— what we don’t have is a Treasurer with either the capability or willingness to DO THEIR Constitutional JOB!
Janet Yellen— a creature of the little club bubble she lives in. Outrageous. Don’t address the obligations? She needs to RUN from the US citizens who will remove her.
We do (did), his name was Trump.
Trouble is, totalitarians of every stripe will do anything necessary to remain in power (CoVid/Ukraine/CBDC) using government agencies to do the dirty work.
Treasury cash was about $52 T end of last week. With daily drops of $25B, yelling’s references to June 15 could be more likely this coming Tuesday.
Pardon, meant $52 B
.
These are Dr. Milton Frideman's words paraphrased.
Politicians talk about responsible govt. Oxymoron.
The government shuts down, full stop?
But if that had ever happened, remember the political angle, that government shutdowns are always blamed on the Republicans.
Then I guess we could get into the discussion, of how the Republicans don’t stand firm and all that.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.