washingtonexaminer.com
Biden on the debt ceiling hike: It's my way or the highway
Elizabeth StaufferIt doesn’t take long for reality to catch up with people who spend their money recklessly.
If the situation is not too far gone, it may be simply a question of cutting back temporarily on unnecessary purchases. However, if the overspending has persisted for a long period of time, an individual may be forced by outsiders, such as credit card companies or banks, into concessions with which they disagree.
Such is the predicament the White House finds itself in at the moment. The Biden administration’s two-and-a-half-year spending spree has driven up the United States national debt to a whopping $31.4 trillion dollars, and the government is rapidly approaching the day when it can no longer pay its bills.
Treasury Secretary Janet Yellen notified Congress on Monday that if the debt ceiling is not raised or suspended soon, the government could default on its debt as early as June 1. Needless to say, a default by the U.S. government would be a shock to the world economy and must be avoided.
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https://www.washingtonexaminer.com/restoring-america/courage-strength-optimism/biden-on-the-debt-ceiling-hike-its-my-way-or-the-highway
