In the end?
The Debt Ceiling/Budget WILL get done….
It always does….
This is about paying stuff Congress PASTED and APPROVED….
This is like a winter storm reporting by the media….
The deal will be done in the last minute or even after the last minute….
(The actual problems began on Jan. 1….But has been and will be continually pushed back….)
In the end like in the past….
The US Government WILL pay it’s bills, Social Security and other things….
The people who could NOT get paid are government employee’s as these things do happen….
Some House Republicans want to ‘defund’ stuff already ok’d…..
Biden isn’t gonna let that happen without a BIG fight…..
The House Speaker KNOWS this….
The debt ceiling imposes a legal limit on the amount of money the U.S. government can borrow, currently set at $31 trillion. Since the national debt hit the cap in January, the Biden administration has adopted special budgetary maneuvers to conserve cash and buy time for lawmakers either to raise the limit or to suspend its enforcement.
Republican lawmakers — who took control of the House in January — have tried to seize on the looming deadline to extract spending cuts and other policy concessions from the White House. Last week, the House approved a Republican measure that would briefly raise the debt ceiling while cutting billions of dollars in federal spending and repealing some of Biden’s recent legislative accomplishments.
The president has threatened to veto the measure and called on Congress to raise the debt ceiling without conditions. Until Monday, Biden had also refused to haggle with Republicans over an issue that poses such immense risks to the economy.
But with Monday’s news that default could come as soon as next month, the president set in motion a plan to hold talks on May 9, personally calling McCarthy as well as Senate Majority Leader Charles E. Schumer (D-N.Y.), Senate Minority Leader Mitch McConnell (R-Ky.) and House Minority Leader Hakeem Jeffries (D-N.Y.), according to a White House official, who spoke on the condition of anonymity to describe private conversations….
Please ignore Yellen on the debt ceiling…..
The actual issues started in January.,
Congress WILL settle this when things get REALLY critical by the late summer.,..
This is a dance
The Treasury Sec is just a spectator,,..
More on Yellen just making noise FOR Biden’s negotiating postion….
…When asked to respond to Biden saying he was not yet ready to invoke the 14th Amendment, Yellen said: “Our priority is to make sure that Congress does its job.”
“There is no way to protect our financial system in our economy, other than Congress doing its job and raising the debt ceiling and enabling us to pay our bills and we should not get to the point where we need to consider whether the President can go on issuing debt. This would be a constitutional crisis,” she said….