It is deja vu all over again.
Treasury Secretary Janet Yellen warned Congress that if lawmakers do not raise or suspend the federal debt limit as soon as possible, the United States could face a significant risk of default in August.
Gee. Where have the American people heard this before? Oh, yeah: From every single administration this century.
“I think defaulting on the national debt should be regarded as unthinkable,” Yellen said in testimony to a Senate Appropriations subcommittee. “Failing to increase the debt limit would have absolutely catastrophic economic consequences.”
According to the former Federal Reserve Chair, Congress should pass new debt limit legislation that would let the Treasury continue to borrow before the suspension expires on July 31.
She warned that the financial markets could experience unrest if Washington does not pass a debt limit bill.
Who is crazy enough to think that the U.S. government would not pass one? There is always a supposed last-minute scramble, but it is always the same thing in the end.
The FED scam continues, there really is no debt limit. The Ripoffagains and the Dummycrates are in cahoots with the FED to destroy our economy. And when it happens they will blame everyone else.