The United States risks could run out of money to pay its bills if Congress is not able to reach an agreement on the debt ceiling. It could happen as soon as June 1, according to warnings from Treasury Secretary Janet Yellen, and could have potentially have far-reaching and dire consequences for Americans, including people who receive benefit payments or run a small business or who are trying to buy a home.
Not rally.
There is plenty of tax Money coming in to cover debt payments.
Debt Payments get priority!
Domestic payments (handouts) are another thing and the Dems will not let them go unpaid.
Republican’s need to hold tight!
I’m worried about the debt itself and the reckless spending by Congress. My same message for the last 20 years. It shouldn’t be a political issue, its common sense. Unfortunately there is not much of that going around in Congress.
That’s the answer. Default was used by the media to try and scare people. The US would never default on its debt. The government would simply lay workers off, stop paying contractors and slow some other spending.
The house Republicans passed a bill raising the debt limit, Schumer needs to pass it in the Senate and Biden needs to sign it. It’s on them to make sure we pay our bills.
I am not worried. We have played this game many times before. In order to default, president would have to intentionally not pay the interest on the debt. The revenue coming in is more than enough to cover the debt payments. It’s not enough to cover debt payments, federal payroll, Medicare, social security, billions to Ukraine, and countless wasteful spending. What will happen is federal workers will be furloughed. Biden will close the gates to yellowstone and national monuments so the news can run stories about ruining people’s vacations. When it gets resolved, all the federal workers get back pay, the debt will instantly shoot up about $1 trillion and federal spending will continue at record deficit levels.
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Yup, wash, rinse… repeat.
Laying workers off is exactly what the government needs to do anyway. You cant tell me that an organization employing almost 3 million people couldn’t function with the same ineptness with 10% less people.
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No, we need 80,000 more IRS workers to audit people filing for Earned Income Credit.
Ruh roh Raggie.
Maybe the White House wants to default.
The house Republicans already passed a bill raising the debt ceiling, Biden need to tell Schumer to pass it and send it to him. It isn’t that complicated.
Now, I know that isn’t going to happen, but the House bill is not egregious in any way shape or form.
The White House’s stated stance was a clean debt bill, which was also not going to happen.
Finding something in between is the answer, I wonder how far the White House has moved?
