Far-left Janet Yellen, who just endorsed a communist to head up our currency agency, actually said a debt ceiling is “damaging” to the United States. Not only that, she falsely claimed the US would default if the debt ceiling was not raised. Mark Levin recently explained that a default is not in the equation.
To say that a debt ceiling should be erased is very extreme, especially given the state of our debt and deficit spending. Democrats do not want any limitations to their spending. We can guess why. Think Cloward and Piven.
Treasury Secretary Janet Yellen said Thursday on CNN’s “OutFront” that it has become “increasingly damaging” for the United States to set a debt ceiling.
She claims “it is damaging to confidence of consumers, of investors. Of course, everyone, including me, breathed a sigh of relief that we were able to reach an agreement that gets us to December 3.”
“It’s not about future spending or taxes. We’ve incurred bills. Can the government be counted on to pay those bills? Americans, whether it’s people waiting for a Social Security check or military pay or bondholders who regard U.S. treasuries as the safest asset in the world, they need to never question that the United States will pay its bills.”
It has to get done by her deadline, she insisted, or, “this would be the first time in the country’s history that we would be unable to pay our bills. And it would be enormously damaging to the economy, to financial markets. I’ve said and continue to think it would be utterly catastrophic. It should be unthinkable.”
That is clearly untrue.
Her final statement was that we are “flirting with a self-inflicted crisis.” That’s true but it’s what Democrats are clearly doing to overturn capitalism that is a self-inflicted crisis.