Treasury Sec. Janet Yellen is warning Congress that the federal government will hit its debt limit next Thursday.
— PBS NewsHour (@NewsHour) January 13, 2023
They took things too far!
They can’t collapse the economy before they defeat Russia and China! Then they will just lose!
U.S. Treasury Secretary Janet Yellen said on Friday the United States will likely hit the $31.4 trillion statutory debt limit on Jan. 19, forcing the Treasury to launch extraordinary cash management measures that can likely prevent default until early June.
“Once the limit is reached, Treasury will need to start taking certain extraordinary measures to prevent the United States from defaulting on its obligations,” Yellen said in a letter to new Republican House of Representatives Speaker Kevin McCarthy and other congressional leaders.
She urged the lawmakers to act quickly to raise the debt ceiling to “protect the full faith and credit” of the United States.
“While Treasury is not currently able to provide an estimate of how long extraordinary measures will enable us to continue to pay the government’s obligations, it is unlikely that cash and extraordinary measures will be exhausted before early June,” the letter said.
Republicans now in control of the House have threatened to use the debt ceiling as leverage to demand spending cuts from Democrats and the Biden administration. This has raised concerns in Washington and on Wall Street about a bruising fight over the debt ceiling this year that could be at least as disruptive as the protracted battle of 2011, which prompted a brief downgrade of the U.S. credit rating and years of forced domestic and military spending cuts.
The White House said on Friday after Yellen’s letter that it will not negotiate over raising the debt ceiling.
“This should be done without conditions,” White House spokesperson Karine Jean-Pierre told reporters. “There’s going to be no negotiation over it.”
Very similar to the Jew war that caused this problem in the first place!
Frankly, they can keep doing this for a while. It’s not just going to blow up tomorrow.
But they can’t keep doing it forever!
❗️🇺🇸🇺🇦The US has a limit on military & financial aid to Ukraine 🤔
Kentucky gubernatorial candidate Jeffrey Young is convinced that because of further military supplies to Ukraine, the US could face an economic crisis” pic.twitter.com/AMNV4oh02K
— John Carter (@JohnEdgarCarter) January 10, 2023