How you know it is all just Kabuki theatre

[Harpy Eagle]

Treasury's Yellen says June 5 is last date for debt ceiling to be raised

U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

www.reuters.com

WASHINGTON, May 26 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

Yellen had previously said a default could potentially happen as early as June 1, but is now characterizing June 5 as the precise deadline.

"We now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5," she wrote.

More time magically appeared for them to get a deal done and now they will not have to come back over the holiday weekend.

 

[Moonglow]

It's the SOS it has been for fifty-sixty years.

 

[multivita-man]

Treasury's Yellen says June 5 is last date for debt ceiling to be raised

U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

www.reuters.com

WASHINGTON, May 26 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

Yellen had previously said a default could potentially happen as early as June 1, but is now characterizing June 5 as the precise deadline.

"We now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5," she wrote.

More time magically appeared for them to get a deal done and now they will not have to come back over the holiday weekend.

In fairness to Yellen, though, this is hard to time with precision. Trying to predict how much tax revenue is going to come in and how much in payments are going to go out from day to day is really impossible. The Treasury's general account balance can have sudden drops.

Remember the x-date was at one point not supposed to arrive until August or even September.

 

[Seymour Flops]

If they default on the debt on June 5, that is a choice that they will make. They will be rejecting the option to redirect other spending into paying the interest on the debt.

Like a guy refusing to cancel his trip to Vegas and use the money to pay his monthly credit card payments.

 

[elektra]

Time to start firing government employees, at the city level to the states, to the federal government.

 

[MarathonMike]

The two Party system has officially failed America.

 

[blackhawk]

This is nothing new we go through this political theater every few years no matter which party controls what.

 

[MarathonMike]

Time to start firing government employees, at the city level to the states, to the federal government.

That's what I've been saying for decades. There is SO MUCH fat and waste in the government. Many of them make well over $100K a year. And then factor in enormous government pensions, it's insane.

 

[JGalt]

Treasury's Yellen says June 5 is last date for debt ceiling to be raised

U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

www.reuters.com

WASHINGTON, May 26 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

Yellen had previously said a default could potentially happen as early as June 1, but is now characterizing June 5 as the precise deadline.

"We now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5," she wrote.

More time magically appeared for them to get a deal done and now they will not have to come back over the holiday weekend.

Dammit. I was going to post this last night. Yellen and Biden are starting to crack, and are just stalling for more time.

 

[Manonthestreet]

 

[Harpy Eagle]

Dammit. I was going to post this last night. Yellen and Biden are starting to crack, and are just stalling for more time.

This is my favorite part of the whole thing. People like you attack Biden for refusing to negotiate and then you attack him for making a deal.

I appreciate how you do not even pretend not to be mindless partisan drone

 

[C_Clayton_Jones]

In fairness to Yellen, though, this is hard to time with precision. Trying to predict how much tax revenue is going to come in and how much in payments are going to go out from day to day is really impossible. The Treasury's general account balance can have sudden drops.

Remember the x-date was at one point not supposed to arrive until August or even September.

Such a prediction wouldn’t be necessary, of course, if Republicans had any interest in responsible governance, rather than holding the country hostage like the domestic terrorist they are.

 

[multivita-man]

The two Party system has officially failed America.

If we default, I have a feeling you will not be alone in thinking this, and I could see major interest in a 3rd party.

Question is, would be a real grassroots "centrist" third party or a Trojan Horse to something else? Or would it open the door to a sub-270 EV count and having the House of Reps decide the election?

 

[Independent thinker]

Treasury's Yellen says June 5 is last date for debt ceiling to be raised

U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

www.reuters.com

WASHINGTON, May 26 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

Yellen had previously said a default could potentially happen as early as June 1, but is now characterizing June 5 as the precise deadline.

"We now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5," she wrote.

More time magically appeared for them to get a deal done and now they will not have to come back over the holiday weekend.

Have to agree with you on that. Yellen works for Biden. But, Republicans called Yellen out already for providing a false date so you are late to the game.

 

[gipper]

This is my favorite part of the whole thing. People like you attack Biden for refusing to negotiate and then you attack him for making a deal.

I appreciate how you do not even pretend not to be mindless partisan drone

Unfortunately mindless partisanship rules the day for both sides of the criminal duopoly.

 

[multivita-man]

Such a prediction wouldn’t be necessary, of course, if Republicans had any interest in responsible governance, rather than holding the country hostage like the domestic terrorist they are.

I would blame the GOP for a default, but I would not blame them for wanting to control spending. The problem I see with Republicans is they only want to talk about spending and never about raising capital gains taxes, raising estate (aka "death") taxes, or rolling back Trump tax cuts. Now that they control most media it's easier for them to confuse people about which way is up or down.

I'm not particularly optimistic about the future, of this country or of this planet for that matter. The human brain was built to conquer our pre-history world. The world we've created since then? Not so much.

 

[Harpy Eagle]

Have to agree with you on that. Yellen works for Biden. But, Republicans called Yellen out already for providing a false date so you are late to the game.

The Repubs are part of the drama, it is all a game and people like you eat it up like it is real.

I have never understood how people are so blind to it

 

[busybee01]

Treasury's Yellen says June 5 is last date for debt ceiling to be raised

U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

www.reuters.com

WASHINGTON, May 26 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

Yellen had previously said a default could potentially happen as early as June 1, but is now characterizing June 5 as the precise deadline.

"We now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5," she wrote.

More time magically appeared for them to get a deal done and now they will not have to come back over the holiday weekend.

Obviously the time will change as the time grows shorter. It could change again by a few days one way or the other.

 

[Harpy Eagle]

Obviously the time will change as the time grows shorter. It could change again by a few days one way or the other.

They have to build up the drama so both side can claim victory.

 

[debbiedowner]

Treasury's Yellen says June 5 is last date for debt ceiling to be raised

U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

www.reuters.com

WASHINGTON, May 26 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the $31.4 trillion debt ceiling by June 5.

Yellen had previously said a default could potentially happen as early as June 1, but is now characterizing June 5 as the precise deadline.

"We now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5," she wrote.

More time magically appeared for them to get a deal done and now they will not have to come back over the holiday weekend.

I receive early pay notifications the Saturday before ss and va disability and I had my VA in account this morning (early pay) for June 1.