Post by ScottW Post by MiNe109 Post by MiNe109 Post by ScottW
Treasury Secretary Janet Yellen has warned Congress the federal
government will run out of cash to pays its bills sometime in
I'd be suprised if Yellen said the government "will run out of cash."
Hed: McConnell Warns Yellen GOP Won’t Help Raise Debt Ceiling
Hed: McConnell rejects Yellen's debt ceiling appeal, puts onus on Democrats
Since the debt ceiling is determined by previously agreed upon spending,
this is the usual GOP brinksmanship.
Who makes this shit up? If that was truly the case...whey would there be a debt ceiling at all?
Excellent point! Most countries don't have one. Ours is only good for
causing trouble when it needs to be raised.
Or to put the brakes on out of control spending.
That doesn't have anything to do with the debt ceiling, which simply a
technical provision allowing previously agreed upon spending to be paid.
Post by ScottW
Congress often does a lousy job of forecasting how much a bill will cost
or how much revenue will be raised.
That's why the debt ceiling was enacted.
No, it was to allow the Treasury to issue bonds without specific
Congressional approval when the previous practice was for Congress to
"authorise each bond issue by the United States Treasury by passing a
legislative act that approved the issue and the amount," according to wiki.
Eliminating the ability of the government to pay its bills is a terrible
idea, a threat to the full faith and credit of the United States.