First she said July 1st then she moved it to June 1st now she says June 5th. Its all fake. She could hold off 6 months. They want the markets to panic a little. It helps move interest rates. This is all a propaganda ploy. Republicans mostly think that its all a scam. Democrats are the ones that believe. So McCarthy should hold tight. His voters won’t blame him for the panic. They will blame him for giving in.
America borrows $51,000 per second.
There is still over $300,000,000,000 in CoVID relief funds that haven’t been spent. Some of it is earmarked for upcoming programs, but the GOP wants to claw back 10% and the Dems are screaming bloody murder.
In 9 yrs Social Security will be cut by 25% because we simply won’t be able to afford it since generation X will be starting to retire.
We won’t be defaulting on our debt because that means we’re not making interest payments and that’s not going to happen. However, parks will be shut down, etc., because we won’t be paying for discretionary items if the Senate refuses to vote on the bill.
The House has passed the debt ceiling bill and now it’s just sitting in the Senate. He said Schumer is refusing to take it up until Joke gives him permission. So when they try to blame this on the GOP, it’s an outright lie.
Lastly, the date America is supposed to “default” has gone from June 1st until June 5th, which is another lie. Quarterly tax payments are due June 15th and that money will easily fund the budget for another 30 days. Yellen and all of DC knows this, but that will take away the sense of urgency of the issue for the Dems, which means they’re milking this purely for a political stunt.