Mnuchin calls on Congress to raise debt limit as deadline approaches

CNBC ^ | 3-9-17 | Jacob Pramuk and John W. Schoen

[Angels27]

Treasury Secretary Steven Mnuchin has called on Congress to raise the United States debt limit "at the first opportunity." In a letter to congressional leaders dated Wednesday, Mnuchin said the Treasury will stop issuing certain state and local securities on March 15, when the most recent suspension of the debt limit expires. Mnuchin said the Treasury will likely start taking "extraordinary measures" the next day, when the U.S. will be at its statutory limit, to prevent default.

"As I said in my confirmation hearing, honoring the full faith and credit of our outstanding debt is a critical commitment. I encourage Congress to raise the debt limit at the first opportunity so that we can proceed with our joint priorities," Mnuchin wrote.

[TBP]

No! The last guy doubled our ebt. The LAST thing we need is more debt. Let’s try reducing it.

[HomerBohn]

Egad! More of the same old sh-t!

President Trump: you made a lousy selection in picking this Munchkin!

[HomerBohn]

They couldn’t comprehend that succeeding governments would be so damned stupid!

Send Munchkin back to the minor leagues.

[trebb]

To you and the other concern trolls - Trump didn't cause this mess but has to deal with it. He intends for us to become fiscally responsible but there's lots of work to do. He can either raise the debt limit for now or let us go down the tubes until we can get a handle on what has already been wrought.

Want to do something useful (all of you concern trolls):

Donate to FR

Else, you're probably at the wrong site.

[New Jersey Realist]

That’s because they were ass deep in debt to carry out the war.

[DoodleDawg]

This should be done with explanation of massive spending cuts to follow.

What massive spending cuts?

[DoodleDawg]

The debt ceiling needs to be increased to allow the government to operate and pay its debts.

The very same excuse that the Obama administration used when they requested their debt ceiling increases.

[New Jersey Realist]

I trust Trump. If the limit must be raised to pay current bills then it has to be done. I suspect that once the economy improves and a bigger workforce pay their taxes, the situation will get better. We have to give this administration more than 2 months!

[silverleaf]

It’s not an excuse
It’s a reality
Btw congress and Paul Ryan in the last 2 years gave obama a pass on having to even ask for debt increases
I believe they simply suspended the debt ceiling until March 2017
Which is now upon us

You cannot expect Pres Trump (without support from either party of Congress) to shut down the govt, default on our debts and then work forward on a solution

A solution will require time and space ( funding)

Now watch the democrats and RINOs dig in and demand big tax increases to go along - it is a Uniparty after all - and this was the plan no matter who got elected ... Let obama play, let the American taxpayers pay and blame it all on the gop

[DoodleDawg]

You cannot expect Pres Trump (without support from either party of Congress) to shut down the govt, default on our debts and then work forward on a solution.

Last August he was willing to do that over Planned Parenthood funding. Times have changed I guess.

[silverleaf]

If you can’t see the difference between holding on one issue vs shutting down the entire government, defaulting on obligations such as paying the military, and lowering the credit rating of the US- then we are done

Have a good day

[DoodleDawg]

If you can’t see the difference between holding on one issue vs shutting down the entire government, defaulting on obligations such as paying the military, and lowering the credit rating of the US- then we are done

I do know the difference and last August Trump said he would be willing to do just that. Link

[trebb]

I’m with you - so far, Trump hasn’t given any indication he will stop until he either gets all his promises kept or is stymied by the RINOs in the House and Senate - he has my full trust.