Saul Loeb / AFP - Getty Images fileWASHINGTON — The U.S. is expected to hit the debt ceiling on Jan. 19, Treasury Secretary Janet Yellen warned in a letter to House Speaker Kevin McCarthy, R-Calif., on Friday.
Extraordinary measures allow the government to buy time so that Congress can negotiate and pass a debt limit increase. In the letter, Yellen said the measures enable"the government to meet its obligations for only a limit amount of time." She said that while the Treasury Department can't identify exactly when the measures will be exhausted, she said, it is"unlikely" that they"will be exhausted before early June.
I'm tax professional: reason Trump is worried sick about his taxes being released is HE FAILED TO REPORT 'DEBT FORGIVENESS INCOME' when he wrote off his failed real estate ventures in 2009 (yr open in audit now). When bank writes down/off loans=his income!
It's time to review the salaries of all elected officials.
if we just clipped of a trillion per reports…america is nothing but a grift today ..a failed miserable experiment
Well that came up pretty quick. Usually there is a build up. Oh wait, Biden is in political trouble so we need to deflect!
STOP FUKIN SPENDING! $500 A NIGHT TO HOUSE ILLEGALS IN HOTELS!!!!
Let's just make a 100 trillion dollar note and 'lend' it to ourselves. We can borrow against that.
FEAR mongering...... im sodamn tired of this shyt.
Don't worry though, the collapse will take away all debt. We should be able to see this coming a mile away. Will continue to pay our debt, but the United States government can fleece the American citizens, give their money away to their corporate friends, then we get screwed.
Do not extend the debt limit. Enough is enough.
Didn’t you shill for this president and his people like Yellin? Now that they’ve screwed it up by spending $8 trillion we didn’t have, you’re suddenly worried about defaults? 😂😂
But, what about the socialists coming for our gas ranges, and Hunters laptop? We’ve got the Peoples work to do, not mess around with governmental spending, healthcare, and actual governing. You don’t expect that do you cuz we’ve got our own GOP agenda.
She is a complete dope. Not qualified whatsoever on the economy.
Will Declare more dollars into existence accelerating inflation
There is no limit to the debt in the US.
Fed. Gov. pays interest on debt and rates are climbing fast.
Well I guess we just have to print the money faster🤣😂🤣
Yellen is the only cabinet Secretary in the Biden Administration that is remotely qualified for the position. And she manages to act totally inept for the sake of supporting the “equity/inclusion” agenda.
We have unqualified people all over our government that are in place due to ideology not intellect or experience.
I sure am glad we sent billions of dollars to Ukraine... /Sarc
If our government would stop giving money away like it grows on trees we might not be in this situation. Just a thought
Judging solely on your comments - no one has any idea how our economy works
Why have a debt limit if you’re just going to increase it every year
Pray people. And pray for everyone that's on social security. Gonna need it.
Enter the $1 trillion coin. The idea is that the president could order the treasury secretary to mint a $1 trillion coin out of platinum, then deposit it with Federal Reserve. Then, just like that, the government would have an additional $1 trillion to pay off its obligations.
I sure miss Ronald Reagan ! Forty
While the government piss on us, the media tells us it's raining, and Biden blaming Putin. We chose Biden because the media told us that we had to hate Trump and he was a danger to the country. Well, we are paying the consequences.
Translation to the children of the GOP in Congress:. 'Clean up your room now because Dad will be home soon'
people that print money talking about a default 🙄😏
We need to pay our debt, not put it off
The Senate should be forced to reverse some of these huge spending bills & if they don’t. Shut it down. NoNewSpending
no we are doing gas stove panic right now.
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