Secretary of Defense Lloyd J. Austin testifies before the House Armed Services Committee on the conclusion of military operations in Afghanistan at the Rayburn House Office building on Capitol Hill in Washington, DC, U.S. September 29, 2021. Olivier Douliery, Reuters
* President Joe Biden laid out what he said were the real world impacts of a debt default on Wednesday
* Tanking markets, job losses, and lost retirement savings were part of the costs, he said
* Earlier the Pentagon warned that it would undermine the 'economic strength on which our national strength rests'
* It was part of a move to pressure Senate Minority Leader Mitch McConnell to cave in over the current debt ceiling stand-off
* Biden invited bank leaders including JPMorgan Chase's Jamie Dimon, Citi's Jane Fraser and Bank of America's Brian Moynihan
* Biden and Senate Democrats are trying to get around a Republican filibuster threat and pass the same bill that got through the House last week
* They have until Oct. 18 to pass something, before the U.S. falls off a financial cliff
The Biden administration stepped up its push to get Congress to raise the debt limit on Wednesday, as the Pentagon warned that default could trigger a national security crisis and the president said it risked tanking the market and wiping out retirement savings.
'It's about paying for what we owe, and preventing catastrophic events,' President Joe Biden told some of the nation's top chief executives, likening the impact to a 'meteor heading our way.'
He spoke soon after Secretary of Defense Lloyd Austin issued his own warning.
Read more ....
More News On U.S. Secretary Of Defense Austin Warning Failing To Raise Debt Ceiling Could Harm National Security
Pentagon chief warns default would harm national security, endanger troop pay -- Politico
Default would threaten national security, keep troops from getting paid, Pentagon chief says -- CNBC
Pentagon Warns of National Security Fallout From Debt Ceiling Crisis -- US News and World Report
Pentagon Warns Failing To Raise Debt Ceiling Could Harm National Security -- Forbes
Pentagon chiefs say debt default could risk national security -- The Hill
No money to pay troops if debt ceiling deal doesn’t happen, defense secretary warns -- Military Times
Defense Sec. Austin warns debt ceiling lapse could mean no paychecks for troops -- NBC
4 comments:
I call bullshit on the former general, the military pleading poverty as usual, even with all the money they can stand, the bastard still lost to 7th century cavemen
General Austin knows as much about economics as his brother from another mother knows about logistics.
Army 3-Star General Loses Rank After War College Plagiarism Revealed
Cut-and-Paste Piggee
"The U.S. Army War College Academic Review Board determined this year that Piggee had committed plagiarism while at the school,
where he received a master's in military strategy."
American generals are known to be cleaver in strategy.
"Former Lieutenant General Audre F. Piggee is by all accounts a very nice man. People tell us that he his very personable, and someone who avoids controversy as much as possible ...
Audre F. Piggee may be on the fringes of being functionally illiterate, but you would never know it by the emails ... "
But Biden says there no foreign threats and he never lies.
The whining has begun! Speaking of whining, where's Lapides or reps from his merry little band?
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