Failure to raise the debt ceiling

[kadee79]

Will result in hurting millions of Americans.....especially many of the seniors who rely on SS to get by....
So I sure hope ALL voters remember who refused to raise it come the mid-term elections!!!

Earlier this month, Treasury Secretary Janet Yellen wrote a letter to congressional leadership stressing the urgency of raising the debt limit, given that the government's money will likely run out in October due to financial uncertainty caused by the pandemic.

With October just 10 days away, Yellen doubled down on the need for Congress to act quickly, citing how failure to raise the limit will hurt Americans across the country.

"In a matter of days, millions of Americans could be strapped for cash," Yellen wrote in an opinion piece for The Wall Street Journal. "We could see indefinite delays in critical payments. Nearly 50 million seniors could stop receiving Social Security checks for a time. Troops could go unpaid. Millions of families who rely on the monthly child tax credit could see delays. America, in short, would default on its obligations."

The White House last week expressed the same concerns as Yellen, warning in a memo to state and local governments that a government default could lead to potential big cuts in measures like Medicaid and free school lunches.

After Congress missed a July 30 deadline to raise or suspend the debt ceiling, the US Treasury employed "extraordinary measures" to keep paying off the government's bills, but as Yellen warned in her letter to Congress, those measures will likely run out next month, warranting speedy, bipartisan action to prevent a government default.

www.msn.com/en-us/news/politics/failure-to-raise-the-debt-ceiling-will-delay-child-tax-credit-payments-and-social-security-checks-causing-economic-catastrophe-janet-yellen-says/ar-AAODD8I?ocid=msedgntp&li=BBnb7Kz

[djAdvocate]

I think this is probably the line in the sand that gets Joe Manchen over.

[bean29]

Sept 20, 2021 14:13:27 GMT -5 djAdvocate said:

I think this is probably the line in the sand that gets Joe Manchen over.

Why this over any other issue?  Personally I think he is bought and paid for by lobbyists.  Idk if raising the debt ceiling matters to lobbyists or not.  

[Tiny]

Do most voters really care about this? Do they even understand what it means?

Judging from the number of people who don't have a clear idea about what getting (or not getting) vaccinated against Covid19 means thanks to their evening news and their social media feeds - I'm guessing the GOP just need to spin it so it's the Democrats/Biden's fault... and 50% of Republican voters will go along with that.

I am basing this on some stats I saw online that indicated that 50% of Republicans believe trump is the "true president" and won the 2020 election.

[kadee79]

Sept 20, 2021 15:04:15 GMT -5 Tiny said:

Do most voters really care about this? Do they even understand what it means?

Judging from the number of people who don't have a clear idea about what getting (or not getting) vaccinated against Covid19 means thanks to their evening news and their social media feeds - I'm guessing the GOP just need to spin it so it's the Democrats/Biden's fault... and 50% of Republican voters will go along with that.

I am basing this on some stats I saw online that indicated that 50% of Republicans believe trump is the "true president" and won the 2020 election.

When some of the old foggies I know don't get their SS checks...they will be knocking on our door to hit DH up for a "loan"...fat chance he will ever get it back.   Others may well be out on the streets in this area cause they won't have any $$ to pay their rent nor to buy groceries....and most around here....their SS checks are less than $1000 per month, many are even less than $500 a month.

ETA....and those figures for the SS checks....that's due to the low wages this area has had for years & years & also to this being a "right to work" state....yep, right to work for less.

[happyhoix]

McConnell says the GOP will vote to default.

www.msn.com/en-us/news/politics/mitch-mcconnell-says-the-gop-will-vote-for-the-us-to-default-on-its-debt/ar-AAOE7RD

Sure they will, then blame Biden because he was president when it happened.

[djAdvocate]

Sept 20, 2021 15:04:15 GMT -5 Tiny said:

Do most voters really care about this? Do they even understand what it means?

Judging from the number of people who don't have a clear idea about what getting (or not getting) vaccinated against Covid19 means thanks to their evening news and their social media feeds - I'm guessing the GOP just need to spin it so it's the Democrats/Biden's fault... and 50% of Republican voters will go along with that.

I am basing this on some stats I saw online that indicated that 50% of Republicans believe trump is the "true president" and won the 2020 election.

failure to raise the debt ceiling will close Federal Parks.

at a time when they are 40% over normal influx?

yes, America will notice, care, and understand that.

[djAdvocate]

Sept 20, 2021 16:21:34 GMT -5 happyhoix said:

McConnell says the GOP will vote to default.

www.msn.com/en-us/news/politics/mitch-mcconnell-says-the-gop-will-vote-for-the-us-to-default-on-its-debt/ar-AAOE7RD

Sure they will, then blame Biden because he was president when it happened.

that makes no sense. most federal debt is owned by rich guys, most of whom are Republican.

this is an insanely bad political move, and he HAS to know that.

[thyme4change]

Sept 20, 2021 15:18:41 GMT -5 kadee79 said:

Sept 20, 2021 15:04:15 GMT -5 Tiny said:

Do most voters really care about this? Do they even understand what it means?

Judging from the number of people who don't have a clear idea about what getting (or not getting) vaccinated against Covid19 means thanks to their evening news and their social media feeds - I'm guessing the GOP just need to spin it so it's the Democrats/Biden's fault... and 50% of Republican voters will go along with that.

I am basing this on some stats I saw online that indicated that 50% of Republicans believe trump is the "true president" and won the 2020 election.

When some of the old foggies I know don't get their SS checks...they will be knocking on our door to hit DH up for a "loan"...fat chance he will ever get it back.   Others may well be out on the streets in this area cause they won't have any $$ to pay their rent nor to buy groceries....and most around here....their SS checks are less than $1000 per month, many are even less than $500 a month.

ETA....and those figures for the SS checks....that's due to the low wages this area has had for years & years & also to this being a "right to work" state....yep, right to work for less.

You should start the 5-alarm fire bell now. Tell them that congress will be shutting off SS payments in October, and although their Senators probably know how much this needs to not happen, they should start emailing and calling their Senators demanding they do something. Don't explain sides or mechanisms, no indication of the temporary nature of the situation, just the statement that SS payments will stop being paid in October unless Congress acts now. The uninformed people will assume that it is the other party's fault and demand action.

[pulmonarymd]

I'm sure that not paying overburdened hospitals is goin gto go well for all the people there too.

[happyhoix]

Saw McConnell on TV this am saying no Republican will vote to raise the debt limit because it’s the Dems fault, due to their spending this year, that the debt ceiling has to be raised. Do the Dems have to figure out how to do it, and it will be the Dems fault if it doesn’t get done.

It’s curious the GOP does not remember all the debt Trump caused, including his tax break for the rich. Or how Covid helped cause a big jump in 2019-2020.

Also curious that they don’t remember how the public turned against the GOP when they refused to raise the debt ceiling unless Obama defunded the ACA in 2015.

[thyme4change]

Sept 23, 2021 9:11:03 GMT -5 happyhoix said:

Saw McConnell on TV this am saying no Republican will vote to raise the debt limit because it’s the Dems fault, due to their spending this year, that the debt ceiling has to be raised. Do the Dems have to figure out how to do it, and it will be the Dems fault if it doesn’t get done.

It’s curious the GOP does not remember all the debt Trump caused, including his tax break for the rich. Or how Covid helped cause a big jump in 2019-2020.

Also curious that they don’t remember how the public turned against the GOP when they refused to raise the debt ceiling unless Obama defunded the ACA in 2015.

I fucking hate Mitch McConnell.

[tbop77]

On the Senate floor Thursday, Senate Minority Leader Mitch McConnell said it would take Democrats about "a week... or a little more" to use budget reconciliation to raise the debt limit, adding it may be "inconvenient" but it’s "totally possible" for the party to avert a budget crisis before the Oct. 1 deadline. “If they (Democrats) want to tax, borrow, and spend historic sums of money without our input, they’ll have to raise the debt limit without our help. This is the reality,” McConnell said.



www.msn.com/en-us/news/politics/what-republicans-are-thinking-in-the-debt-ceiling-standoff-according-to-gary-cohn/ar-AAOMq1l?ocid=msedgntp

Ever wonder how this man looks himself in the mirror?  After all, didn't mind spending historic sums of money over the last four years:


The United States currently has $27.68 trillion in total debt.



Of this total, $21.57 trillion is "public debt" (money owed to foreign governments, individual investors, etc), while the rest is in the form of "intragovernmental holdings" (money owed to programs like Social Security).



On President Trump's first day in office (January 2017), the total debt load of the nation was $19.947 trillion.



So, over the course of a little less than 4 years, the United States added roughly $7.733 trillion in debt.
www.davemanuel.com/2021/01/16/president-trump-national-debt/

The United States is just a game to him.  I hope Donald Trump rubs his nose is shit everyday for the rest of his life.

[djAdvocate]

Trump's final budget year ends in 5 days.
the deficit, up until now, is substantially his.