Debt ceiling increase sends Dems into full apocalypse mode Chaos,recession

[havoc00]

The prospect of negotiating a debt ceiling increase with Republicans is prompting warnings of economic ruin and chaos from President Biden’s White House and Democratic leaders in the House and Senate.

The Democrats’ dire predictions started with Treasury Secretary Janet Yellen, who told House Republicans last week that a debt ceiling hike would be needed by June. She urged lawmakers to quickly raise the ceiling in order to allow the government to keep paying its obligations and "protect the full faith and credit of the United States."

Over the weekend, Yellen speculated at length about what would happen if Congress failed to raise the debt ceiling by June, and predicted "irreparable harm to the U.S. economy, the livelihoods of all Americans and global financial stability."

The White House has similarly spent the last week warning of apocalyptic economic scenarios that would follow a decision not to raise the debt ceiling by June. White House press secretary Karine Jean-Pierre accused Republicans of "threatening to kill millions of jobs and 401(k) plans by trying to hold the debt limit hostage."

"If that happened, our borrowing costs would increase and every American would see that their borrowing costs would increase as well," Yellen said. "On top of that, a failure to make payments that are due, whether it’s the bondholders or to Social Security recipients or to our military, would undoubtedly cause a recession in the U.S. economy and could cause a global financial crisis."

Jean-Pierre warned repeatedly that a debt ceiling hike was not open to negotiation. "There will not be any negotiations over the debt ceiling," she said, adding that it’s an "obligation" of Congress to raise the ceiling without condition and "avoid economic chaos."

President Biden himself called Republicans "fiscally demented" last week for seeking cuts to the federal government’s $6.3 trillion annual budget, which grew by more than 50% when the COVID pandemic hit. Today, the federal government is still spending nearly $2 trillion more than what it spent just before the COVID pandemic that Biden has declared to be "over."

https://www.yahoo.com/news/debt-ceil...154931356.html

[JayJ350]

Vote democrat they said.

Better than the orange man they said.

A failure to vote democrat would ruin our country they said.

[Weightaholic]

Republicans only care about the debt ceiling when there's a democrat president.

[Fishman15]

When are we going to stop pretending that there actually is a debt ceiling?

[GreatOldOne]

The debt ceiling is dumb.

If they want to reduce spending they can go ahead and stop spending more. Deciding not to cover already made expenses makes no sense.

They should be writing up and passing budgets.

[litljay]

Yellen is an idiot.

[PepperedAngus]

If they werent so fiscally irresponsible they wouldnt be in a panic.

Who knew you cant steal the Nations oil reserves, print unlimited money, and send it all to "Ukraine" (aka the democratic election fund)? I mean how do all those decisions go wrong???

[Ramoneb87]

How would the debt ceiling be looking if we hadn't signed the $1.9 trillion American Rescue Plan or sent 200 billion to Ukraine

[SmithMachineGuy]

Republicans barely have a majority in the house. They are not going to do jack about the debt ceiling, an overwhelming majority of them will vote to increase with no conditions it as will every single democrat. Chip Roy, Matt Gaetz, and a few others will vote no. Then it will go to the Senate where everyone but Rand Paul will vote yes.

[Ramoneb87]

Nothing will happen, the GOP is still full of spineless cucks, they will fold and appease the democrats despite holding the superior hand

[stevebec]

When are we going to stop pretending that there actually is a debt ceiling?

This. Is it really a debt ceiling if you end up raising it every time you hit it?

[Mark1T]

Democrats, the Party of Perpetual OMG Crises

[frankdtank20]

The GOP are probably making huge demands to negotiate a vote to raise the debt ceiling. Revenge for the Dems sending out bills thousands of pages long with Trillions in spending and a vote on them needed within just a couple days. Dems strategically strongarmed GOP into voting yes to tons of pork spending during the pandemic without real objections because businesses and the public were panicked about not getting Covid relief money. The shoe is on the other foot now, but there's lots of time to make demands.

[JayJ350]

Democrats, the Party of Perpetual OMG Crises

The more you put democrats in power, the more they phuck everything up.

[Guyfawkes1010]

Cant have a national debt, if theres no national anymore.

[vickissick07]

Republicans only care about the debt ceiling when there's a democrat president.

You're ****kng Australian what do you know?

[HateLiberals]

Yellen is an idiot.

An insult on yellen is a direct insult on Israel. Why are dual citizenship people allowed these positions

[ImpressiveGainz]

https://www.cnn.com/2022/05/31/polit...ntv/index.html

Secretary of the Treasury, doesn't think massive deficit spending will cause inflation. Alleged degrees in econ from Yale, doesn't think massive spending deficit will cause inflation. Served on the Federal Reserve board, doesn't think massive deficit spending will cause inflation.

HMMMMMMMMM

[PepperedAngus]

Vote democrat they said.

Better than the orange man they said.

A failure to vote democrat would ruin our country they said.

remember when warmonger Trump was going to start chit with everyone and drag us into world war?

Honestly no matter what happens in the next year, the leftists did so much damage in so short a time, I doubt even George fukin Washington could dig us out of this hole if he was elected next if we arent all nuked by then.

[bluebeltATT]

So weird when liberals are trashing this country and sending us all into the toilet, our resident libs are silent

[NYPat]

So weird when conservatives hold the country hostage unless their demands are met while claiming liberals are trashing this country and sending us all into the toilet..

[Maxamanius]

Republicans have agreed to raise the debit limit several times under democrat rule yet the left continues to screw up each time. Republicans should refuse this time around so that the democrats have the financial disaster they deserve from their own mistakes.

[Weightaholic]

You're ****kng Australian what do you know?

Adroit argument.

10/10.

[AlwaysFocus]

The debt ceiling is dumb.

If they want to reduce spending they can go ahead and stop spending more. Deciding not to cover already made expenses makes no sense.

They should be writing up and passing budgets.

everyone should have unlimited credit cards, what could go wrong

[JoshSP1985]

National debt past 31T and government fighting over raising a pre-set debt limit.
Send billions upon billions to Ukraine with little to no accountability.

Pick 2

[BuckNakedinBama]

Yes yes, if we DON'T go $5T in debt, we're screwed! Going $5T further in debt with increasing interest rates is the only path to prosperity!

Makes perfect sense in clown world.

[Bushmaster]

The debt ceiling is dumb.

If they want to reduce spending they can go ahead and stop spending more. Deciding not to cover already made expenses makes no sense.

They should be writing up and passing budgets.

Strong words from the Warhawk who wants to keep supporting Ukraine.

[ImpressiveGainz]

Why not just make the debt ceiling $100000 quadrillion dollars, give everyone checks for a billion, and then we all retire? Hyperinflation isn't real.

[ClivesTriceps]

So weird when conservatives hold the country hostage unless their demands are met while claiming liberals are trashing this country and sending us all into the toilet..

Stop projecting and address the issues libtards in congress are causing