On 4,3,2,1......blow up?

www.npr.org/2023/01/14/1149247070/debt-c...sing-federal-impacts

On Friday, Treasury Secretary Janet Yellen warned that the U.S. is on track to reach the debt limit, or the cap on how much money the federal government can borrow, by Thursday. The ceiling was last raised by $2.5 trillion in December 2021 to a total of $31.4 trillion.

This rate of spending cannot be maintained especially when debt is no longer at one percent. How soon before 50% of spending is just maintenance on the debt?

Just like with the climate change freaks who want to force unaffordable energy and transportation, there seems to be a math problem these people are unwilling to acknowledge.

www.cnn.com/2023/01/19/politics/analysis...own-risks/index.html


This year’s debt ceiling showdown could be the riskiest yet, since Kevin McCarthy offered radical conservatives whose votes he needed to become House speaker guarantees that the debt ceiling would not be raised without significant cuts to government spending.
A pedestrian crosses Pennsylvania Avenue as the sun rises over the U.S. Capitol in Washington, U.S., November 9, 2022.

The US will likely reach its debt limit on Thursday. What comes next is predictable

Things could go off the rails because, essentially, Republicans are seeking to use the need to pay for past spending to force cuts in future spending. Raising the debt ceiling has been fraught in recent years when there’s a Democrat in the White House and Republicans control either chamber of Congress. Adding a strong whiff of hypocrisy to the standoff, the GOP has typically had no problem doing so under big-spending Republican presidents and suddenly develops a compulsion to ensure fiscal discipline when there’s a Democrat in the Oval Office.

And now it’s far from clear that McCarthy can deliver. Given his willingness to do anything to placate hardliners to win his job, alarm bells are ringing from Wall Street to Washington about what might happen.

OUTWIT,OUTPLAY,OUT LAST........"survivor" in REAL LIFE

Ah yes, words of wisdom from the network that is sinking like the Titanic.

I actually thought it was a magnificent comparison:

www.reuters.com/world/us/when-might-us-d...t-battle-2023-01-25/


COMING UP........
FEB. 1

The Treasury Department will release a quarterly document next week laying out how it plans to fund the government over the next three months. The document, which includes information on debt the Treasury will issue, could shed light on the timing of a possible default. It follows a more general overview of quarterly funding to be released on Jan. 30.

Feeling very Venezuelan…, tic tock…

homeagain wrote: www.cnn.com/2023/01/19/politics/analysis...own-risks/index.html

Trash and balderdash. This is behind a pay wall but perhaps because it is the NYT you might remember reading it.

www.nytimes.com/2019/09/18/opinion/obama...inancial-crisis.html

naturalresources.house.gov/oversight/shutdown/default.aspx

NY TIMES behind paywall..other source is pertinent WHY?