Reporting from CNBC, “Treasury Secretary Janet Yellen on Friday notified Congress that the U.S. will reach its statutory debt limit next Thursday. After that, the Treasury Department this month will begin ‘taking certain extraordinary measures to prevent the United States from defaulting on its obligations,’ Yellen wrote in a letter to new House Speaker Kevin McCarthy, R-Calif. The Treasury ‘is not currently able’ to estimate how long those emergency actions will allow the U.S. to pay for government obligations, she wrote. But, ‘It is unlikely that cash and extraordinary measures will be exhausted before early June,’ Yellen added.”
So! Yellen is warning the House now that we are about to default. Her estimate is around June at the latest, but we always seem to approach that drop-dead date much quicker. Whatever the actual deadline may be, the treasury finds it necessary to take emergency actions starting next week. This is the worst-case scenario Democrats have been warning about if RepubliKKKlans took the House, but it seems to be approaching fast. Last November, I read an article that projected the debt ceiling would not be an issue until August 2023. Oops! Consider us on the brink now!
And what will RepubliKKKlans do? Blackmail the American economy to pass legislation that will basically gut Social Security and Medicare. The disaster is upon us in earnest. Morons of America have yet to fully appreciate the catastrophe facing them — the world — if America defaults on its debt. But these are the consequences of people willfully voting for RepubliKKKlans. This is what they want! There is no other explanation or reasoning. People looked into the respective eyes of their RepubliKKKlan politicians, who have never hidden their disdain for the social safety net, and decided they want that person running the government. Oh, well, fucktard! Welcome to stupid America! You did this to yourselves! ¯\_(ツ)_/¯