Posted on 05/19/2023 7:11:11 AM PDT by Kaiser8408a
Yes, the clock is ticking on a possible debt default and Biden is off in Hiroshima Japan instead of negotiating with House Speaker McCarthy.
The treasury cash balance is only $18 billion away from Yellen’s minimum balance redline of $50 billion. That’s one day of spending in crazy spending Washington DC.
(Excerpt) Read more at confoundedinterest.net ...
Don’t worry “there is an infinite amount of cash at the Federal Reserve”.
https://twitter.com/WallStreetSilv/status/1635470213377323008
I figure it is too much to hope for, but maybe just maybe the greedly corruptoid political hacks will finally choke the WashingtonDC monster for us.
We live for hope...
(then it will be much easier to cut out the krap and unconstitutional agencies and bureaus, most of which only suck our blood and restrict or deprive us of our liberties ... )
Maybe a US default would be a fun thing to have and interesting to watch. /sarc
At this point, just take care of yourself and don’t worry about what you can’t control, at least that’s how I try and live.
I’ll be fine either way.
Lay off ALL nonessential federal employees. Let them know there will be no pay for not working and use the funds saved to keep from defaulting on the debt.
Lay off ALL nonessential federal employees. Let them know there will be no pay for not working and use the funds saved to keep from defaulting on the debt.
Lay off ALL nonessential federal employees. Let them know there will be no pay for not working and use the funds saved to keep from defaulting on the debt.
Where are all those taxes going ?
Stop paying congress and their staff first that would save Billions
.
Don’t one out of 7 people work for the guberment at higher salaries and more perks? Talk about a big rat hole that needs closed.
Biden is stupid he takes after his boss Obama who squandered 9 billion by giving it to Iran in gold and cash.
Boy those democrats sure know what they are doin huh Moe.
You can say that again and again and again.
The good news, yesterday my T Bill came due and was paid. Bad news, where to put the “cash”.
I understand in the event of a default, the law requires all interest in government debt be paid first. So, as money comes in from taxes and other fees, it goes out in priority order. So, there will be no non payment of fed interest. Beyond that, there is a cascade of what gets paid first. I have no idea what that order is but rest assured, the feds will be closest to the top of the list.
T bills 9 months paying over 5.1% as of 10AM today. Some CDs over 5.5%.
The taxes we paid last month sure disappeared in a hurry.
They’ll make sure they pay themselves first and fill the EBT cards second.
That bears repeating
We have sufficient cash flow to pay our debt. We simply need to reduce spending elsewhere.
USA promised $200 Billion to Ukraine.
Explain this emergency now? Why do we raise our debt ceiling to give money to Ukraine?
Annual defence budget of Russia is about $70 billion.
aaaaand it’s gone...
Not possible. They receive money from payroll deductions daily.
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