Janet Yellen, US Treasury secretary, speaks during a Financial Stability Oversight Council (FSOC) meeting at the Treasury Department in Washington, DC, US, on Friday, Dec. 16, 2022. Ting Shen, Bloomberg
CNBC: U.S. will hit its debt limit Thursday, start taking steps to avoid default, Yellen warns Congress
* Treasury Secretary Janet Yellen notified Congress that the U.S. will reach its statutory debt limit next Thursday, and asked House Speaker Kevin McCarthy to either suspend or increase the debt limit.
* Yellen wrote that the Treasury Department will begin “taking certain extraordinary measures to prevent the United States from defaulting on its obligations.”:
* She told McCarthy, “It is unlikely that cash and extraordinary measures will be exhausted before early June.”
* “Failure to meet the government’s obligations would cause irreparable harm to the U.S. economy, the livelihoods of all Americans, and global financial stability,” Yellen warned.
Treasury Secretary Janet Yellen on Friday notified Congress that the U.S. will reach its statutory debt limit next Thursday.
After that, the Treasury Department this month will begin “taking certain extraordinary measures to prevent the United States from defaulting on its obligations,” Yellen wrote in a letter to new House Speaker Kevin McCarthy, R-Calif.
The Treasury “is not currently able” to estimate how long those emergency actions will allow the U.S. to pay for government obligations, she wrote. But, “It is unlikely that cash and extraordinary measures will be exhausted before early June,” Yellen added.
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WNU Editor: Here is an easy prediction. After a lot of drama and grand-standing, in the end they will approve raising the debt limit.
Treasury Secretary Janet Yellen On Friday Notified Congress That The U.S. Will Reach Its Statutory Debt Limit Next Thursday
Yellen tells Congress US expected to hit debt limit Thursday -- AP
Yellen warns of U.S. default risk by June, urges debt limit hike -- Reuters
Treasury secretary warns US could default on its debt as soon as June -- CNN
Yellen warns of 'irreparable harm' if debt ceiling not raised in letter to Congress -- Yahoo
Biden administration warns House GOP about debt ceiling deadlines -- Axios
6 comments:
Yes they will. No choice. Always beware of the grannie from hell
your wife?
^ No, it's your sister, you silly. Guess you didn't recognize her with her clothes on.
What is the deal with commenting on Goldstein's post? Bored? can't help trolling? David goes after no other poster.
If i wanted your level of trolling I could join a MMORPG.
She told McCarthy, “It is unlikely that cash and extraordinary measures will be exhausted before early June.”
“Failure to meet the government’s obligations would cause irreparable harm to the U.S. economy, the livelihoods of all Americans, and global financial stability,” Yellen wrote.
So without infinitely printed money the empire can only survive 6 months? And we want to fight a two-fronted war?
Get real. It's time to get to the root of the debt problem and start planning for a balanced budget, instead of venting the pressure off to an explosive future.
Democrats are the only ones always introducing 4000+ page spending bills literally at 130am the day of voting demanding an immediate vote, introduces enormous omnibus spending packages with billions of genuinely stupid spending (all democrat, just look at the bills!!), no single topic bills ever, and then holding up the will of the people when Republicans dont support pulling out another credit card to pay the current balances until we start reducing the national debt. Essentially we have got the adults versus a bunch of 18 year old girls who just turned 18 and pulled out a huge credit card and thinks money grows on trees and that they know everything. A true nightmare to share a country with. The same idiots want to tax unrealized capital gains. Unjustifiable and insane. Democrats and their useful idiots are happy to be the main party of bankrupting the country with unfettered idealistic social programs and nearly 100 trillion in unfunded liabilities, and then every single time the debt ceiling comes up, every single democrat plus Mitt Romney vote on it and bitch that Republicans dont care and shut down the government until the whiners get what they want. Your money is used as leverage for them and they dont care about you. The communists only care about power.
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