Standby for the POLITICS!
The end of the next week will push the American Government to the limit of what it can borrow to pay its bill’s…
Make no mistake…
The Debt Limit WILL BE raised….
There WILL be a dance….
But in the end?
It WILL be done….
There will be noise from House Republicans but Government shutdown’s do NOT play well with employee’s, business, and YES….Voters…
“The use of extraordinary measures enables the government to meet its obligations for only a limited amount of time,” Yellen said in a letter to congressional leaders. “It is therefore critical that Congress act in a timely manner to increase or suspend the debt limit. Failure to meet the government’s obligations would cause irreparable harm to the U.S. economy, the livelihoods of all Americans, and global financial stability.”
The U.S. has never defaulted on its debt in its history, and economists warn that doing so could trigger a panic on Wall Street and lead to millions of job losses. Many leading Republican lawmakers are demanding that their new House majority use the debt limit as leverage to force the Biden administration to accept sweeping spending cuts that Democrats oppose, creating an impasse with no clear resolution at hand….
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