Author Topic: In new letter, Janet Yellen warns Speaker McCarthy US will breach debt limit June 1  (Read 400 times)

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Offline mystery-ak

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May 22, 2023 5:56pm EDT
In new letter, Janet Yellen warns Speaker McCarthy US will breach debt limit June 1
Yellen warned that waiting until the last minute to get debt increase passed would have consequences

By Jay Caruso FOXBusiness

In a new letter written to House Speaker Kevin McCarthy, Treasury Secretary Janet Yellen warned that if Congress and the president do not reach a debt limit increase, the U.S. government will run out of money to pay debts by June 1.

President Biden has negotiated with McCarthy for the last several weeks, and while both have sounded hopeful the two sides could reach a deal, they remain at an impasse.

The House passed a debt limit increase in April that also includes a package of spending cuts for which Biden, Democratic House Minority Leader Hakeem Jeffries and Democratic Senate Majority Leader Chuck Schumer have all rejected. However, the Senate has yet to pass any companion bill and the clock continues to tick away.

Biden and McCarthy met again today at the White House at 5:30 p.m. to continue negotiations. Early on Monday, McCarthy told Fox Digital he would cancel the House of Representative's planned recess next week if a deal isn't reached.

"Oh, yeah. We're gonna stay and do our job," McCarthy said. You know, the difference here is, when Republicans took over, we no longer have this proxy voting. I believe it's more productive." He added, "If the voters vote for you, and lend the voice to you, you should be here to provide that voice. Whether you're with me or against me, I think the voices need to be here. That's what the American people want."

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https://www.foxbusiness.com/economy/new-letter-janet-yellen-warns-speaker-mccarthy-us-breach-debt-limit-june-1
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Online Hoodat

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Janet Yellen warns Speaker McCarthy US will breach debt limit June 1

Janet Yellin warns Speaker that she intends to default on debt payments after June 1.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Online roamer_1

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So they all stay a couple extra days, entertain us all with some harrumphing and farting in leather chairs, then pass a new debt ceiling, print more money, and still get home for summer.

nothing to see here...

Offline libertybele

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So they all stay a couple extra days, entertain us all with some harrumphing and farting in leather chairs, then pass a new debt ceiling, print more money, and still get home for summer.

nothing to see here...

Well, I would hope that McCarthy gets us something out of the deal. :shrug:
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Online roamer_1

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Well, I would hope that McCarthy gets us something out of the deal. :shrug:

Hoping for testicular fortitude out of the Republicans?

Better to hope to provide for your retirement by pooping nickels.

One is entirely more likely than the other.

Jussayin.

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We need at least 5-6 weeks of shutdown before people begin to realize the whole Fear Theatre schtick is all BS.  People will go on with their lives.  The sun will continue to shine.  And people will discover that Big Government really wasn't necessary for life to continue.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-