Treasury Secretary: ‘Extraordinary Measures’ to Be Taken If Congress Doesn’t Raise Debt Limit

[Hoodat]

Treasury Secretary: ‘Extraordinary Measures’ to Be Taken If Congress Doesn’t Raise Debt Limit

MASOOMA HAQ   |   July 23, 2021

Treasury Secretary Janet Yellen on Friday urged congressional leaders to suspend or raise the national debt limit before Aug. 1. or face dire economic consequences.

Yellen warned that if Congress does not take action, her department will need to implement “extraordinary measures” to prevent the government from defaulting on its loans.

“If Congress has not acted to suspend or increase the debt limit by Monday, August 2, 2021, Treasury will need to start taking certain additional extraordinary measures in order to prevent the United States from defaulting on its obligations,” Yellen wrote in a letter to congressional leaders.

https://www.theepochtimes.com/treasury-secretary-extraordinary-measures-to-be-taken-if-congress-doesnt-raise-debt-limit_3915908.html



The only 'extraordinary measure' that needs to be taken here is for Congress to stop spending money it doesn't have.  Our national debt has grown $6.5 trillion in the last seven months alone.  And that is a far graver threat to our nation than Janet Yellen's concerns about a debt ceiling.

[DB]

This is what national economic suicide looks like.

[art.prout]

This is what national economic suicide looks like.

More like national economic murder.

[GtHawk]

Hmmm, what’s she going to do shut down the government, did anyone notice last time?

[skeeter]

More like national economic murder.

Yep its intentional. Cloward-Piven.

[jmyrlefuller]

We should've gone over the fiscal cliff when we had the chance.

[Fishrrman]

From deeper into the Epoch Times article:
"Yellen clarified that congressional action to increase the debt limit does not authorize additional spending, rather it “simply allows Treasury to pay previously enacted expenditures.”
If Congress is unable to increase the debt limit, the Treasury would be forced to try to suspend certain payments such as to Social Security beneficiaries, government employees, or service members in order to save cash."

Well, looky here.
If you don't give us what we want, we're going to take away the ol' folks Social Security.

And what's the old familiar refrain the demo-communists ALWAYS wail about what the Republicans will do to Social Security if they're elected...?

[Hoodat]

From deeper into the Epoch Times article:
"Yellen clarified that congressional action to increase the debt limit does not authorize additional spending, rather it “simply allows Treasury to pay previously enacted expenditures.”
If Congress is unable to increase the debt limit, the Treasury would be forced to try to suspend certain payments such as to Social Security beneficiaries, government employees, or service members in order to save cash."

Well, looky here.
If you don't give us what we want, we're going to take away the ol' folks Social Security.

Yet no mention of taking away food stamps, EITC, or housing subsidies.

[GtHawk]

Yet no mention of taking away food stamps, EITC, or housing subsidies.

Or the other great protected class the government employee.

[libertybele]

Yet no mention of taking away food stamps, EITC, or housing subsidies.

I don't remember the exact reason but I do remember Cruz saying that people not getting SS because of the debt ceiling was bunk.