Yellen warns we will hit debt limit next Thursday!
WASHINGTON (PNN) - January 13, 2023 - Pretend Treasury Secretary Janet Yellen just wrote a letter calling on Congress to raise the debt ceiling as soon as possible, stating that the Fascist Police States of Amerika will reach its limit on Thursday, January 19, 2023.
Then she says, “extraordinary measures” will be used to keep paying bills, which she expects to continue until "early June".
"While Treasury is not currently able to provide an estimate of how long extraordinary measures will enable us to continue to pay the government's obligations, it is unlikely that cash and extraordinary measures will be exhausted before early June," Yellen wrote to congressional leaders.
Honoring FPSA debt is “a sacred obligation,” and Congress will have to deal with it “without conditions, without games, and without putting our economy at risk,” White House economic adviser Brian Deese said, seemingly forgetting Democrats' historic gamesmanship with President Donald Trump over the debt ceiling.
The question is not if and when the FPSA will breach the debt ceiling and cross the infamous D-Day, but how will Congress reach a solution. Not even the always cheerful Wall Street expects a smooth and drama-free resolution to a process that will be nothing short of absolutely chaotic, and expose the full congressional dysfunction for the entire world to see.
Stifel Financial’s chief Washington policy strategist Brian Gardner said in a note, “Investors should be on guard as the summer approaches as to the possibility that the brinksmanship over the debt ceiling could lead to market volatility and a risk-off trade."
