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 ...
Because being irresponsible is the responsible thing to do.
++++++++++++++
On the family level, when the Visa is maxed out, get the Discover card to pay Visa, next month when Discover bill comes you need to get a MasterCard to pay Discover. Next month no one will give you another card. I guess it's time to go buy more shit.
Good, then I guess she’ll have no problem cutting government spending in half otherwise.
Like a bully
Give me or you will hurt.
Bankruptcy!
Only a suicidal ifiot would lend to such a grossly insolvent organization
IT WAS MID-morning on Dec. 22, 1944 when U.S. troops manning the defences of the besieged Belgian town of Bastogne watched as four German soldiers – a major, a captain and two enlisted men – approached under a large white flag.
The U.S. Army’s 101st Airborne Division had established a perimeter there just two days earlier to halt Hitler’s surprise offensive through the Ardennes.
By that point, 400,000 German troops supported by more than a thousand armoured vehicles had smashed though the American lines and were driving on the port of Antwerp in hopes of splitting the Allied forces.
Bastogne was right in their path. Seven major roads led into and out of the city; capturing it was critical to the German advance.
When presented with the surrender demand, the 101st commander, Brigadier General Anthony C. McAuliffe, laughed at very notion of surrender. In his opinion his men were giving the Germans “one hell of a beating” and felt the enemy demand was out of line with the existing situation.
“Aw, nuts,” he blurted out.
And so, the German army ground to a halt around Bastogne – without fuel and without sufficient reserves to replace their losses – the battle the Germans were engaged in was already lost, just as General McAuliffe had predicted days before.
Went to HD, who said my auto-pay card was $17. past due. They wouldn’t take a payment in any form. I had $3,000. roofing ready to go. They offered a new card. I said, ok, but only $3,000. 90 seconds later I had a card with $8,000. available. This is the problem here. Yes, they are all paid off.
It’s comforting knowing that Yellen is hiding out in South Africa after hanging the rest of us out to dry.
“Yellen has been able to enact accounting moves...”
Prestidigitation!
prĕs″tĭ-dĭj″ĭ-tā′shən
noun
Performance of or skill in performing magic or conjuring tricks with the hands; sleight of hand.
Default on $31 trillion? Who could believe it? Of course we’re going to default. 😆
Default is not going to happen. They are scare mongering to get their way and spend, spend, spend so they can control, control, control every aspect of our lives.
“A balanced budget law - live within your means.”
That was passed decades ago. Didn’t work. Graham-Rudman Act, 1985.
The House is ruled by Republicans. The Constitution says the House SHALL produce an annual budget.
They. Won’t. Do. It.
There are no Omnibus Bills and there is no debt ceiling to hit if the House does its job. Republicans lie just as much as Democrats. We’re being played by both parties.
How about this for an idea
CUT SPENDING
Yellen was in Africa the other week made a speech in Zambia saying China was bad regarding debt management in Africa.
The Chinese Embassy fired back saying the US needs to get its own financial house in order.
https://freerepublic.com/focus/f-news/4125808/posts
Somewhere I heard, and can’t remember where, that “nuts” was not his real answer. It was an expletive, and that the word “nuts” was substituted in order to clean it up a bit for dissemination to the populace.
Ah, they’ve lit another gaslight. Yellon manages money like CNN manages the truth. She’s the financial equivalent of an ignorant s***.
It’s not Yellen’s job to pass a budget. That’s the job of the Republican held House.
Republicans control the House, where is their budget????
It's intentional!
“It’s intentional!”
It’s Republicans at fault, not Democrats! The House is in charge of budget and spending.
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