Posted on 05/24/2023 11:49:59 AM PDT by ChicagoConservative27
Treasury Secretary Janet Yellen said the deadline to raise the debt ceiling is almost certainly in early June as lawmakers attempt to reach a deal to increase the limit before the country goes into default.
Yellen said on Wednesday at the Wall Street Journal’s CEO Council Summit that the country must not be allowed to default, and continuing to be able to pay U.S. debts is critical to continued U.S. leadership in the global economy and the role of the U.S. dollar in the world. “It seems almost certain that we will not be able to get past early June,” she said.
Yellen has said the U.S. could default on its debts for the first time in its history as soon as June 1 if an agreement to raise the debt ceiling is not reached. She and other members of the Biden administration have warned that a default would likely cause the country to go into a recession and have wider impacts on the global economy.
(Excerpt) Read more at thehill.com ...
Actual default on the Debt is likely months away as long as BiXiden doesn’t pull another Nordstream Pipeline bombing.
Oh now, now.......LOL
They are going to pass a 2 week extension this week, most likely.
Yellen also repeatedly claimed that the inflation is transitory.
Given Yellen’s track record “almost certain” means “certainly wrong”.
That is, if the debt ceiling is a problem. Evidently it's not too big of a problem or they'd stop all that extra spending and a lot more.
BS. She’s playing politics with this false flag. Many think August/September is more likely. Event then, all it means is a cut in discretionary spending to make additional funds available to pay interest.
So Yellen is backing off and doing "approximate". lol...
Prove it, Granny Twoshoes
Forget about the school loan forgiveness...especially since it’s still in the court and the opinion won’t come out for a month or so.
Maybe she should do a little research to make sure.
This dear woman is the least qualified of all Joe’s cabinet members.
Biden doesn’t have a cabinet. He has a Freak Show!
close the border or no money
“They” want the default in order push out CBDC. Crash it all down and then rebuild it the way “they” want it. Think about it, with CBDC comes UBI, a social credit score and everything else.
Crash it all down and then rebuild it the way “they” want it... That was the part of “build back better” that they left out.
Default? No, but a partial government shut down is possible. That makes all of this ComDem hype, a pure lie.
Treasury’s budget numbers show Biden’s using scare tactics. There’s no risk of default (EmJm Antoni, May 13, 2023)
The Secretary of the Treasury has the legal authority to pay interest on federal debt up to a year in advance.
That could have placed default a year off in the future.
It’s hard to believe anything the failed Fed Reserve ChairThing, now faking US Treasury stint, says. I doubt she has enough financial knowledge and capability to even be a cashier at Dollar General.
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