Posted on 05/01/2023 4:45:48 PM PDT by Responsibility2nd
The US could default on its obligations as soon as June 1 if Congress doesn’t address the debt limit before then, Treasury Secretary Janet Yellen said Monday.
“After reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time,” Yellen wrote in a letter to House Speaker Kevin McCarthy.
The accelerated timetable increases pressure on President Joe Biden and House Republican lawmakers to ramp up their debt ceiling discussions. After months of talks being at a standstill, the president called all four congressional leaders on Monday afternoon and invited them to a May 9 meeting.
~snip~
Talks at a standstill
Biden told the congressional leaders – Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell, House Minority Leader Hakeem Jeffries and McCarthy – that he wants to discuss the need to pass a clean bill to raise the debt ceiling.
The White House is maintaining its position that it will not negotiate over the debt ceiling.
(Excerpt) Read more at cnn.com ...
The old woman yellen doesn’t know what she is blabbering about.
If Biden wants a clean bill,there should also be a clean bill for debt reduction, approved and signed prior to any debt ceiling increase.
What did any of us do to deserve Yellen as Treasury Secretary in charge of anything and VP Kamala giggling and getting ready to sit in the Oval Office soon, and a doddering dementia sufferer as Commander in Chief?
Do the opposite of what Yellen says to get out of this mess
We should copy pelosi and go on vacation until july 5th and tell the senate and president that they can pass and sign our already passed bill or default but the house has done its work already. See you in July
Trump needs to fire that idiot
I would NOT trust Yellen with the PETTY CASH box in any company of mine.
The very fact that McCarthy keeps blathering about wanting to meet with Biden and whining about spending means the fix is already in and McCarthy is just doing gymnastics to save face when he has to face angry Republicans and grass roots for selling out again.
\o/ the sky is falling RUN
Defaulting on the debt means not paying the interest on Treasury bonds. It doesn’t mean not having a budget signed.
We can pay the interest. Congress could even pass a simple 1 page bill authorizing payment on the debt, with all other spending to be negotiated.
Joe Biden “Let’s Rip Off That Band-Aid”.
but these freaks would do it on purpose
Old drunk: Give me some whiskey money or I’ll throw a rock through your car window.
Old Yellen: Raise the debt ceiling or I’ll default on the federal debt.
I’ve looked carefully at both of these statements. I can see no difference.
We allowed an election to be stolen outright, resulting in our government being purposely infested with people we despise for the sole purpose of DEMORALIZING US and eventually causing us to ultimately GIVE UP and GIVE IN THE CCP.
This is stupid and it’s insulting that it’s framed this way... over and over again, year after year.
Taxes are still coming in. Expenditures are still going out. We just maxxed out our credit cards because we spend too much. America is living beyond its means.
If you maxxed out your credit cards, but you were still bringing in a good income, you wouldn’t be “out of money”, you’d be living beyond your means. First thing you’d do is find some things to stop spending money on. Cancel some planned expenditures, sell things of value, learn how to do with less. Maybe negotiate some of that debt down if you have some leverage.
Yellen, along with the other leftists, are flat out lying. The US can not and will not default on its’ debt. Debt payments are scheduled in advance, and they are the very first items payed for out of the treasury. With whatever is left over, the treasury then has discretion of how much to pay of whatever congressional spending is authorized by law. DEBT will always be paid, as there will always be income to the Treasury.
thought for the day...
between the ballot box and the bullet box, there is the lock box...
Good, let it default.
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