Treasury Secretary Janet Yellen is working hand-in-glove with Democrats to make sure they stay in power in perpetuity. She warned Congress on Friday that if they don’t raise the debt ceiling, they will risk “irreparable harm to the U.S. economy and the livelihoods of all Americans.”
The only thing they would risk is stopping the socialist agenda and dangerous inflation.
In a letter, Yellen said that she did not know how long the Treasury Department could prevent the U.S. from defaulting on its debt, which could carry catastrophic economic consequences. The debt ceiling is set to expire on Aug. 1.
“In recent years Congress has addressed the debt limit through regular order, with broad bipartisan support,” Yellen wrote. “I respectfully urge Congress to protect the full faith and credit of the United States by acting as soon as possible.”
The debt ceiling does not affect government spending but instead limits how much additional debt the government can take while paying for provisions that have already been passed by Congress and signed into law. Congress last raised the debt ceiling in 2019.
Yellen’s letter was sent to House Speaker Nancy Pelosi, House Minority Leader Kevin McCarthy, Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell, and the top Democrats and Republicans House Ways and Means and Senate Finance committees.
They could stop spending, but Democrats obviously won’t. They will be perfectly happy to see capitalism fall.
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