Note: the debt limit has not yet been raised. The house is set to consider it on Tuesday. The Senate will need to pass it by Wednesday the 15th, the date when @SecYellen has said we will default. They will need to do so with 100% support of every Senate Democrat.
Also note: this has no effect on inflation. This is not about funding new bills. This is about paying the debt on spending incurred under the last administration and in previous fiscal years.
If the US fails to raise the debt ceiling (or even better, eliminate it), it will reduce the US credit rating, making everything more expensive and also destabilize the dollar and it’s status as the global reserve currency. We don’t want that.
There are people actively hoping for a US debt default as they know the hell it will unleash. We need to be double-dog certain that the two fake Dems, Sinema and Manchin, who are respectively on the take from the crypto and coal lobby, fall in line. Not a drill.
It’s still very worrisome to me that we have let this slip right up to the deadline and that we are treating it with such nonchalant confidence. Needs full attention. Failure will result in global calamity.
politico.com/newsletters/hu…
politico.com/newsletters/hu…
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