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US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said

 
Anonymous Coward
User ID: 84981968
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04/26/2023 09:20 AM
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US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
A failure by the US to raise its debt ceiling would lead to an economic and financial crisis in the country, Treasury Secretary Janet Yellen has cautioned, urging lawmakers to act and not wait “until the last minute.”

The debt ceiling is the maximum amount the US government is legally authorized to borrow to meet its obligations.

Yellen warned during a meeting with business executives from California on Tuesday that a default would result in job losses and push household payments on mortgages and credit cards higher.

The Treasury secretary insisted it was a “basic responsibility” of Congress to increase or suspend the $31.4 trillion borrowing cap.

“A default on our debt would produce an economic and financial catastrophe,” she said, adding: “A default would raise the cost of borrowing into perpetuity. Future investments would become substantially more costly.”

According to Yellen, US businesses would face deteriorating credit markets and the government would likely be unable to issue payments to military families and seniors who rely on Social Security.

“Congress must vote to raise or suspend the debt limit. It should do so without conditions. And it should not wait until the last minute,” she urged.

The warning comes as the White House and Republicans in Congress are at an impasse over raising the debt ceiling.

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Anonymous Coward (OP)
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04/26/2023 09:20 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
Last week, US House of Representatives Speaker Kevin McCarthy floated a plan that includes a $4.5 trillion cut to government spending in order to raise the debt limit by $1.5 trillion.

so everything going as planned, ORDO AB CHAO, and Great Reset
Anonymous Coward
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04/26/2023 09:22 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
yes yes! let's just keep raising the debt limit so we can keep printing MORE money! that will SURELY get us out of this mess right??? right????
Anonymous Coward
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04/26/2023 09:23 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
the wording of someone who wishes for our downfall

get these dualies outta power
Anonymous Coward
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04/26/2023 09:25 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
Geee ya don't say duh
Anonymous Coward
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04/26/2023 09:28 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
As long as they put a bandaid on it and then rip it off if trunk or Desantis wins, then we can blame then
M R E

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04/26/2023 09:29 AM

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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
Last week, US House of Representatives Speaker Kevin McCarthy floated a plan that includes a $4.5 trillion cut to government spending in order to raise the debt limit by $1.5 trillion.

so everything going as planned, ORDO AB CHAO, and Great Reset
 Quoting: Anonymous Coward 84981968


looks like there were (bribes) backdoor deals late last night to get it passed, it's one big club and we aren't in it!!

Republicans will fold as usual, all bark and no bite, actually the bark is not even scary!!
would rather have it & not need it then need it & not have it
Anonymous Coward
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Chile
04/26/2023 09:29 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
LOL ...

the USA is too big to fail

we go down, the whole world goes down

TPTB won't allow that

just relax
VegasRick

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04/26/2023 09:33 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
TBC-whocares
Anonymous Coward
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04/26/2023 09:33 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
Maybe it’s time to change the type of people in charge of the Fed and Treasury. If you know, you know. Or just end the Fed.
Anonymous Coward
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04/26/2023 09:39 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
That's so stupid. All they keep doing is raising the ceiling and hiking interest rates, which will only ever make the problem worse.

It fixes nothing since they keep printing and spending money like it's air with no interest at all in lowering any of that debt. A catastrophe is entirely unavoidable. It needs to happen and it will happen.
Victor Vectors

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04/26/2023 09:42 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
LOL ...

the USA is too big to fail

we go down, the whole world goes down

TPTB won't allow that

just relax
 Quoting: Anonymous Coward 85178782


...you have not been following the world narrative Mr. Geithner now have you?
Anonymous Coward (OP)
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04/26/2023 09:42 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
That's so stupid. All they keep doing is raising the ceiling and hiking interest rates, which will only ever make the problem worse.

It fixes nothing since they keep printing and spending money like it's air with no interest at all in lowering any of that debt. A catastrophe is entirely unavoidable. It needs to happen and it will happen.
 Quoting: Anonymous Coward 83763088


exactly, and imagine, American Government will be paying to the privately Rothchild owned FED, 5 trillion dollars annually just in interest by 2050, that's today's 1/6 of USA debt
Anonymous Coward (OP)
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04/26/2023 09:45 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
That's so stupid. All they keep doing is raising the ceiling and hiking interest rates, which will only ever make the problem worse.

It fixes nothing since they keep printing and spending money like it's air with no interest at all in lowering any of that debt. A catastrophe is entirely unavoidable. It needs to happen and it will happen.
 Quoting: Anonymous Coward 83763088


exactly, and imagine, American Government will be paying to the privately Rothchild owned FED, 5 trillion dollars annually just in interest by 2050, that's today's 1/6 of USA debt
 Quoting: Anonymous Coward 84981968


can you grasp this treason, the FED borrows money that is printed out of thin air and that are digital numbers on a screen to the American Government, and the same Government later pays interest on it and collects the debt through the taxation of its gullible subjects

usury should be awarded with death penalty like it was a custom for centuries in the Christian Europe

until the banksters took over America in 1871

the US Government states that the Constitution is a grant of Power, from who?!

Since the Act of 1871 which established the District of Columbia, we have been living under the UNITED STATES CORPORATION which is owned by certain international bankers and aristocracy of Europe and Britain.

In 1871 the Congress changed the name of the original Constitution by changing ONE WORD — and that was very significant as you will read.

Some people do not understand that ONE WORD or TWO WORDS difference in any “legal” document DO make the critical difference. But, Congress has known, and does know, this.

1871, February 21: Congress Passes an Act to Provide a Government for the District of Columbia, also known as the Act of 1871.

With no constitutional authority to do so, Congress creates a separate form of government for the District of Columbia, a ten mile square parcel of land (see, Acts of the Forty-first Congress,” Section 34, Session III, chapters 61 and 62).

The act — passed when the country was weakened and financially depleted in the aftermath of the Civil War — was a strategic move by foreign interests (international bankers) who were intent upon gaining a stranglehold on the coffers and neck of America.

Congress cut a deal with the international bankers (specifically Rothschilds of London) to incur a DEBT to said bankers. Because the bankers were not about to lend money to a floundering nation without serious stipulations, they devised a way to get their foot in the door of the United States.

The Act of 1871 formed a corporation called THE UNITED STATES. The corporation, OWNED by foreign interests, moved in and shoved the original Constitution into a dustbin. With the Act of 1871, the organic Constitution was defaced — in effect vandalized and sabotage — when the title was capitalized and the word “for” was changed to “of” in the title.

THE CONSTITUTION OF THE UNITED STATES OF AMERICA is the constitution of the incorporated UNITED STATES OF AMERICA.
Anonymous Coward (OP)
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04/26/2023 09:46 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said


you should break these chains that the banksters own you

it's truly despicable
Anonymous Coward
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04/26/2023 09:46 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
i wonder how often a major credit card company allows a customer that has maxed out their credit card to increase their maximum spending limit?
Anonymous Coward
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04/26/2023 09:46 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
i can think of some people it would be disastrous for
Anonymous Coward
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04/26/2023 09:47 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
They've destroyed the US.
Anonymous Coward
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04/26/2023 09:47 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
A failure by the US to raise its debt ceiling would lead to an economic and financial crisis in the country, Treasury Secretary Janet Yellen has cautioned, urging lawmakers to act and not wait “until the last minute.”

The debt ceiling is the maximum amount the US government is legally authorized to borrow to meet its obligations.

Yellen warned during a meeting with business executives from California on Tuesday that a default would result in job losses and push household payments on mortgages and credit cards higher.

The Treasury secretary insisted it was a “basic responsibility” of Congress to increase or suspend the $31.4 trillion borrowing cap.

“A default on our debt would produce an economic and financial catastrophe,” she said, adding: “A default would raise the cost of borrowing into perpetuity. Future investments would become substantially more costly.”

According to Yellen, US businesses would face deteriorating credit markets and the government would likely be unable to issue payments to military families and seniors who rely on Social Security.

“Congress must vote to raise or suspend the debt limit. It should do so without conditions. And it should not wait until the last minute,” she urged.

The warning comes as the White House and Republicans in Congress are at an impasse over raising the debt ceiling.

[link to www.rt.com (secure)]
 Quoting: Anonymous Coward 84981968


These puppets and their bosses need to be assassinated.
Anonymous Coward (OP)
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04/26/2023 09:48 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
i wonder how often a major credit card company allows a customer that has maxed out their credit card to increase their maximum spending limit?
 Quoting: Anonymous Coward 85334018


spot on, the cognitive dissonance and double standards of the dearest bankster elites

they're doing it on their own, but ordinary people lose everything if they max out and can't pay their debt
Anonymous Coward
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04/26/2023 09:48 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
LOL ...

the USA is too big to fail

we go down, the whole world goes down

TPTB won't allow that

just relax
 Quoting: Anonymous Coward 85178782


There's no such thing as too big to fail. Look back at history, entire empires have collapsed many times. No nation is immortal.

The NWO want it to happen too. The dollar served its purpose for many years, but they're intending to destroy it so they can capitalize on the chaos it would create as the world falls apart, then later introduce their new digital system. A new currency and a new economy, one designed to delete the middle class creating only them the rich and us the poor.

The catch is they're trying to time it so the global economy blows at the most opportune time. Likely they want it to happen alongside other planned disasters so they can max out the destruction and blame the collapse on that instead of themselves. But this will go beyond even their control. Not even the NWO and the global nations can save or stall out this economy forever, the cracks in it are massive already.
Anonymous Coward
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04/26/2023 09:50 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
Borrow from Pfizer. They got plenty of Biden Bucks to go around. Milley Money if you will.
Anonymous Coward
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04/26/2023 09:56 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
MAKE AMERICA GENTILE AGAIN

Greatness will follow
Anonymous Coward
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04/26/2023 09:56 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
And her answer to that is more debt.

Dumb, crazy bitch.
Anonymous Coward
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04/26/2023 09:57 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
the people of the United State no matter want their race , their religion or their political ideology is MUST realize they all have the same enemy and this enemy divides them
Anonymous Coward
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04/26/2023 09:57 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
A deal always get's done. McCarthy is one of them.
Anonymous Coward
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04/26/2023 09:58 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
Funny how the government had enough money to send to the Ukraine! Twice---billions going their way!
Anonymous Coward (OP)
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04/26/2023 09:59 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
the people of the United State no matter want their race , their religion or their political ideology is MUST realize they all have the same enemy and this enemy divides them
 Quoting: Anonymous Coward 85691456


and the owners of the FED are the common enemy of the freedom loving Americans who are divided and played on various issues, with transgenderism, LGBT and critical race theories by the same perpetrators in order to move the focus from the real issue that's eroding the American Republic and igniting a civil war for more mayhem and chaos for their profits
Crypto-Tard

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04/26/2023 09:59 AM

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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
She's one of the head money printers.

They bribed congress to run the printing press.

This is a controlled demolition of the USD and replacement with a SH*Tcoin.

gorn gold and bi

Last Edited by Crypto-Tard on 04/26/2023 10:01 AM
When you are afraid of losing your life, you have already lost your life.

Don't be afraid.
Anonymous Coward
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04/26/2023 10:00 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
Just imagine not paying your rent or morgage. You would end up on the street be it in the US or elsewhere.

Let this system collapse and return to some modern variant of the wild west. These governments are getting way to big not serving the citizens.

Time for local communities and economy with affordable healthcare.

Society collapse will happen apart from the coming horror in the end the suvivors will prosper.
Anonymous Coward
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04/26/2023 10:00 AM
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Re: US warns of ‘economic catastrophe’ Default on the nation’s debt would be disastrous, Janet Yellen has said
But Yellen said that the Fed Reserve has infinite amounts of cash ---- so who cares if the US defaults!
The Fed Reserve can bail them out!


the above is sarcastic.
The US is bankrupt - they just haven't announced it yet.





GLP