The Biden Administration is a Circus and here's one of the Clowns...

[Borg warner]

Yellen Sends New Warning Letter About Default...to the Wrong Person
Spencer Brown  |  May 22, 2023  Townhall.com
 

Secretary of the Treasury Janet Yellen sent yet another letter to House Speaker Kevin McCarthy (R-CA) on Monday afternoon, again warning that the United States is growing ever closer to defaulting on its debt unless a bill is passed by Congress and signed by President Joe Biden to increase the nation's debt limit. 

Notably, Yellen continues sending these letters to McCarthy — the man who, along with House Republicans, already passed a bill that would raise the debt ceiling and avoid default — while failing to dispatch similarly snide letters to President Biden or Senate Majority Leader Chuck Schumer (D-NY). Perhaps a letter could have been sent to Biden scolding him for spending more than two months earlier this spring ignoring requests to negotiate from McCarthy as a default loomed? Or a letter to Leader Schumer asking why he and Democrats in the upper chamber didn't put together any sort of a plan to avoid default? 

Nope, all Yellen's warnings go to Speaker McCarthy who clearly outpaced and outmaneuvered D.C. Democrats and partisan pundits by doing what many believed wouldn't happen: passing a bill with only GOP support to avoid a default, raise the debt ceiling, and cap discretionary spending at FY 2022 levels that Democrats previously bragged about setting. In doing so, McCarthy forced Biden to negotiate as he realized he was losing the narrative.

In any case, Yellen ratcheted up the pressure with her latest missive to McCarthy by saying her department estimates "that it is highly likely that Treasury will no longer be able to satisfy all of the government's obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1."

[tous]

Republicans have no balls.

Biden will ignore McCarthy until just before the deadline -- McCarthy will wilt like a hot house flower.

Hippie Marxists celebrate, citizens get hosed once again.

 

[janice6]

1 hour ago, Borg warner said:

Yellen Sends New Warning Letter About Default...to the Wrong Person
Spencer Brown  |  May 22, 2023  Townhall.com
 

Secretary of the Treasury Janet Yellen sent yet another letter to House Speaker Kevin McCarthy (R-CA) on Monday afternoon, again warning that the United States is growing ever closer to defaulting on its debt unless a bill is passed by Congress and signed by President Joe Biden to increase the nation's debt limit. 

Notably, Yellen continues sending these letters to McCarthy — the man who, along with House Republicans, already passed a bill that would raise the debt ceiling and avoid default — while failing to dispatch similarly snide letters to President Biden or Senate Majority Leader Chuck Schumer (D-NY). Perhaps a letter could have been sent to Biden scolding him for spending more than two months earlier this spring ignoring requests to negotiate from McCarthy as a default loomed? Or a letter to Leader Schumer asking why he and Democrats in the upper chamber didn't put together any sort of a plan to avoid default? 

Nope, all Yellen's warnings go to Speaker McCarthy who clearly outpaced and outmaneuvered D.C. Democrats and partisan pundits by doing what many believed wouldn't happen: passing a bill with only GOP support to avoid a default, raise the debt ceiling, and cap discretionary spending at FY 2022 levels that Democrats previously bragged about setting. In doing so, McCarthy forced Biden to negotiate as he realized he was losing the narrative.

In any case, Yellen ratcheted up the pressure with her latest missive to McCarthy by saying her department estimates "that it is highly likely that Treasury will no longer be able to satisfy all of the government's obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1."

Democrats!  The group that obviously missed all the economic training offered in primary and secondary education.  Even in my grade school I was admonished to "never spend more than you have!"

How can this be such a complicated concept that it eludes Democrats?

[Borg warner]

1 hour ago, janice6 said:

Democrats!  The group that obviously missed all the economic training offered in primary and secondary education.  Even in my grade school I was admonished to "never spend more than you have!"

How can this be such a complicated concept that it eludes Democrats?

That basic rule is only applicable f it's your own money. Democrats think they can spend like there's no tomorrow as long as it's somebody else's money, or monopoly money that they print,

But don't they know it could totally destroy the entire economy? Sure they do, and that's the goal because once they've done that, it will allow them to institute unlimited "Emergency Measures."

[Mrs.Cicero]

Yellen is a moron with all the economic brains of a communist.

[minderasr]

8 hours ago, janice6 said:

Democrats!  The group that obviously missed all the economic training offered in primary and secondary education.  Even in my grade school I was admonished to "never spend more than you have!"

How can this be such a complicated concept that it eludes Democrats?

But but but...they have AOC!  She has a degree in economics!

[Maser]

In my hometown growing up, I had a neighbor who looked exactly like her.  Friend and I mowed her front and back yard one Summer and she cheated us out of our money.  We were each suppose to get $20, but after the job was done, she just gave us a single $20 to split.  So we took all the lawn clippings out of the bags and poured them on her front lawn and left.  She then had to pay someone else to clean it up.   

[Huaco Kid]

How can this be such a complicated concept that it eludes Democrats?

It's intentional.

[Rellik]

Spaceball Janet.

[minderasr]

Imagine how things would change if laws were passed carving out the exemptions (for themselves) our legislature built into previously passed laws.