Posted on 05/27/2023 6:40:16 AM PDT by Kaiser8408a
US Treasury Secretary Janet Yellen changed the drop dead date on a US default from June 1 to June 5, daring Speaker McCarthy to step over the line. The debt ceiting is so urgent that Biden went on vacation to Delware for Memorial Day weekend. In fact, Biden and Yellen expect McCarthy to dance.
White House and Republican negotiators tentatively narrowed differences but were still clashing Friday on key issues as the Treasury Department signaled extra time was available before a potential US default.
The new so-called X-date buys negotiators for House Speaker Kevin McCarthy and President Joe Biden more time to strike a deal. The negotiating teams haven’t met in person since Wednesday but spoke late into the night Thursday and were in regular communication throughout the day Friday.
Yes, there isn’t really a crisis folks. Treasury collects tax dollars continuously so Treasury can prioritze debt payments and other disbursements. The only crisis is in the minds of the media.
Deputy Treasury Secretary Wally Adeyemo warned Friday that payments to Social Security beneficiaries, veterans and others would be delayed if there’s a default. But he said he’s gaining some confidence an agreement will be reached.
Treasury’s cash balance is at a low point and The Administration threatens Social Security recipients and veterans of delayed payments … while Biden goes on vacation for Memorial Day weekend to honor veterans??
Meanwhile, bankrupties among large companies are highest since 2010.
In the mortgage market, current coupon nominal spreads 9Agency MBS 30Y coupon over Treasuries) are soaring.
Meanwhile, to honor US veterans, Biden goes on Memorial Day weekend and threaten veterans with delays in veteran benefits. Sigh.
(Excerpt) Read more at confoundedinterest.net ...
Bugout Biden
FJB goin’ on another annual tour of ice cream factories?
“..... House Speaker Kevin McCarthy and President Joe Biden more time to strike a deal.”
WHY?...., Rats have no interest whatsoever?
McCarthy has done his job under the Constitution. The House passed a law to raise the debt limit. The Democrat controlled Senate and the Democrat President have refused to act on it. Essentially Biden is negotiating for McCarthy to have the house repeal the bill it has passed.
Who are the obstructionists? Who are failing to uphold the oaths to preserve, protect and defend the Constitution?
If the Republicans in the Senate were worth anything, they would be demanding a Senate vote on the bill. If we had a free press, it would be demanding the Senate act and informing the American people of the Constitutional requirements instead of spouting Democrat talking points.
More of what passes for governance in our post Constitutional modern woke world.
The only reason our “outdated” Constitution doesn’t work is the politicians who swear an oath to follow its rules, ignore them.
It's a circus we all pay for, with 537 clowns at the top of billing.
Banish the Den of Vipers to the dustbin of history
Yellen has no idea what the drop dead default date is. Only Biden’s handlers know, and they tell Yellen what to say. She is just as much a puppet as Biden.
The drop dead date is a scare tactic, where republicans are supposed to respond to the Biden administration’s demands or they’ll be called fascists or racists or elderly killers, or some other mean name. ;)
Republicans need to stand tough, or they’ll be the ones paying the price come voting time.
What do you imagine Biden would do if he were present, aside from continuing to act as a decoy for the 2024 nominee, who won't have a scratch as he accepts the nomination in Chicago?
More "Biden this, Biden that" nonsense.
McCarthy has himself in a dangerous game called Integrity. We can’t have any of that in the Swamp.
At the last minute, he’ll cave and accept 20% of his original bill, some token discretionary cuts etc.
Nobody, including the Speaker, wants to be blamed for the Dow falling through the floor. The name calling will be epic. He’ll cave and the debt will continue to grow.
The Democrats couldn’t care less about what they’re doing to this country. They’re 100% political animals and somehow they keep getting their way.
“At the last minute, he’ll cave”
According to some reports yesterday, that’s in the process of happening.
Crooked Joe can only take so many consecutive days of being pumped with his "go juice" shots. Those 5 hour workweeks are murder!
MAKE IT STRONGER, Kevin!
Kevin, if you dont want to be Speaker anymore..CAVE..then the DEMOCRATS will OWN the country again.
40 GOP senators are only good as used toilet paper.
A couple of polls are seeking that people already blame joke for this mess
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