Yellen's warning about the debt ceiling.

OK, so Janet Yellen warns that if the congress doesn't increase the debt ceiling by June, the US could default on it's $31 trillion national debt. The warning was dutifully reported on by the media in appropriately solemn tones. Janet descends like a goddess from on high and declares this epiphany.

Is anyone curious about the timing of this warning? Wy weren't we talking about this debt limit when Biden and his congress crammed through the $1.7 trillion spending debacle just one month prior in the lame duck democratic congress?

Is it best if we just default in 2023 and get it over with? Maybe it would be doing our children and grandchildren a huge favor! Or should we just wait until our debt is, say, $60 trillion?

This page is a permanent link to the reply below and its nested replies. See all post replies »

DallasCowboysFan · 61-69, M

The Republicans introduced a bill to increase the ceiling by $1 but only if $3 is reduced from spending. But it won't get passed because it did not originate from the Dems..

On another note, China stopped buying US debt a year or so ago.
Partly because they don't like the increasing deficit and partly as a shield from sanctions if (when) they attack Taiwan and their assets are frozen.

Crazywaterspring · 61-69, M

@DallasCowboysFan The Chinese see the sanctions slapped on Russia. They're making plans for a forced unification of China.