Posted on 01/29/2023 7:26:01 AM PST by ChicagoConservative27
Treasury Secretary Janet Yellen warned that the U.S. is facing a catastrophic debt crisis if lawmakers fail to raise the borrowing limit, saying the country would face a spiraling recession.
“It would be devastating,” Yellen said to Axios in an interview from Johannesburg, South Africa. “It’s a catastrophe.”
“Of course, it makes me nervous,” she added
The U.S. reached its technical borrowing limit of around $31.4 trillion earlier this month, but Yellen has been able to enact accounting moves that will allow the federal government to pay its bills until sometime in June. Before then, lawmakers must agree to lift or suspend the debt ceiling in order for the government to take on new debt to pay its responsibilities.
(Excerpt) Read more at thehill.com ...
Maybe plan ahead so this doesn’t happen.
Kabuki theater at its finest.
just 3 months ago.....Omnibus spending on everything! Don’t ask! Just pass. Now. OMG, raise the ceiling!
I have a solution: A balanced budget law - live within your means.
Did you know we are spending more (100B/year more) on debt than defense?
roughly 700B on defense, 800B on debt.
The left likes to talk about sustainability. That level of debt is not sustainable.
Republicans are so stupid. Why aren’t they screaming that if the debt limit was so important, why didn’t they pass it the last two years? They need new marketing strategies because right now they are playing the game at all.
If Yellen is so concerned, maybe she should have a conversation with the administration telling them they need to cut spending.
For lack of doing that simple task, the assumption is she is complicit in destroying the United States.
SHE’S nervous? I actually own some T-bills.
Translation “We f**ked up but keep letting us lead you to a bigger catastrophe.”
Yellen never says anything about the massive debt...just “ya gotta make it bigger” cuz
I am confused, how does going more indebt help a debt crisis? These poeple hate us and mock us with such outlandish statements.
Then stop spending money you don’t have.
Let it crash... Be the best thing that could happen to this country right now.
She’s in Johannesburg? Checking out apartments?
Default is an inevitable feature of the system she serves. Hope her bags are packed.
Because the usurers have triumphed and our money is debt we owe to them.
What are you talking about?
They have paper. They have ink. They have computers that print checks.
They have all the money they need, and then some.
Let’s borrow ever more money to pay debts and current deficits. What could possibly go wrong?
They’re too busy hobknobbing at the country club.
/SPIT
“I’m just trying to scare you into accepting a much higher debt ceiling,” Yellen added.
“Boo!”
It’s a transitory nervousness…
The sky is falling . . . unless the runaway spending and money-laundering continues without restraint.
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