Yellen warns of "constitutional crisis," "chaos," and an "economic calamity for American households"

[TroglocratsRdumb]

Treasury Secretary Janet Yellen warned Sunday that a failure of Republicans in Congress to raise the debt ceiling would cause a "constitutional crisis," "chaos," and an "economic calamity for American households" during an interview on ABC's "This Week." President Biden plans to meet on Tuesday with the leaders of both parties in Congress.

"I don’t want to consider emergency options," she said when asked about what the executive branch could do in response. "We should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis."

https://www.realclearpolitics.com/video/2023/05/07/yellen_warns_of_constitutional_crisis_economic_chaos_if_republicans_dont_raise_debt_ceiling.html

The Democrats’ Inflation Reduction Scam

townhall.com

comment:
In effect, Biden and the Democrat Criminals are holding the American Taxpayers hostage if they are not allowed to loot TRILLIONS again.
When did these greedy corrupt Democrats EVER care about the wellbeing of the citizens?
Remember how their "Inflation Reduction Act" was a big fat lie.
It was just another one of their TRILLION dollar looting sprees.
And they want to do it again.

 

[kyzr]

The fucking democrats should pass the Bill the House just passed. Its the only one they will see.

 

[1srelluc]

 

[task0778]

Debt default - right there is the excuse the democrats are going to use for why the economy enters a recession as most economists believe will occur. They will ignore the profligate spending, much of which they did without GOP support AND much of what the GOP did support was much less than what the democrats originally wanted. Piss and moan all you want about Trump, but guess what - he has nothing to do with the ridiculous amount of spending the democrats are primarily responsible for since Biden took office.

 

[1srelluc]

Debt default - right there is the excuse the democrats are going to use for why the economy enters a recession as most economists believe will occur. They will ignore the profligate spending, much of which they did without GOP support AND much of what the GOP did support was much less than what the democrats originally wanted. Piss and moan all you want about Trump, but guess what - he has nothing to do with the ridiculous amount of spending the democrats are primarily responsible for since Biden took office.

Indeed, it's what they want. Fuck it, I say let's get this party started and let the chips fly where they may.

 

[Nostra]

Just when you thought that moron couldn't get any dumber.

Hey Halfwit, the Republicans in Congress DID raise the debt ceiling. Schumer and Veggie Joe said no and are holding America hostage.

 

[SeaMajor7]

I don't recall seeing "The Federal Reserve" or "Emergency Options" in the Constitution!

 

[RhodyPatriot]

Any crisis from a failure to raise the Debt Ceiling will be transitory.

 

[B. Kidd]

They're arguing over pennies!!

McCarthy's plan saves a whole 3.5 trillion over a planned 10 yr. period where the projected debt will be 60 trillion!!

Fuckin imbeciles.
All of them!

 

[d0gbreath]

They're arguing over pennies!!

McCarthy's plan saves a whole 3.5 trillion over a planned 10 yr. period where the projected debt will be 60 trillion!!

Fuckin imbeciles.
All of them!

How many trillion does it take to make a quadrillion, and will I need to get used to using that word in my lifetime?

 

[B. Kidd]

Once you start kicking the can down the road of insurmountable debt which we have, the only choice is to keep kicking the can until we run out of road.

 

[TroglocratsRdumb]

yellen is a crooked lying turd

 

[Seymour Flops]

When you are at the point where not borrowing any more amounts to defaulting on existing debt, you are insolvent and bankrupt, whether you're an individual, a business, or a nation.

 

[d0gbreath]

Once you start kicking the can down the road of insurmountable debt which we have, the only choice is to keep kicking the can until we run out of road.

After quadrillion, we have quintrillion, sextillion, septillion, octillion, nonillion, and decillion, and gazillion after that, I think. 1K of one bumps into the next one.

That's a long road.

 

[1srelluc]

They're arguing over pennies!!

McCarthy's plan saves a whole 3.5 trillion over a planned 10 yr. period where the projected debt will be 60 trillion!!

Fuckin imbeciles.
All of them!

Yeah but the dems think all the trillions belong to them.

 

[BluesLegend]

Reps already raised the debt ceiling, the ball is in the Dems court.

 

[Resnic]

Republicans fault?

Of course she would say that so in a few months when everything goes to shit they can say "we told you this would happen. We told you the republicans did this".

Honestly I'm insulted she would actually think I am that incredibly stupid.

 

[RhodyPatriot]

They're arguing over pennies!!

McCarthy's plan saves a whole 3.5 trillion over a planned 10 yr. period where the projected debt will be 60 trillion!!

Fuckin imbeciles.
All of them!

In the short term I think McCarthy produced the best package he could have possibly shepherded through.

As long as the Cryptkeeper possesses the White House, and Republicans have a slim +5 majority, I don't see anything superior traversing the congressional halls.

In fact, I was pleasantly surprised.

But yes, ultimately something much bigger is going to need to happen.

Play the long kemosabe.

 

[Care4all]

The budget arguments should happen when they work on the budget, to reduce further debt...under regular order, with debate, and amendments,

The debt ceiling is to pay for what has already been spent.

Republicans crashing the economy is a lose lose for everyone and all grand children and great grand children to come.

 

[Care4all]

Just when you thought that moron couldn't get any dumber.

Hey Halfwit, the Republicans in Congress DID raise the debt ceiling. Schumer and Veggie Joe said no and are holding America hostage.

Liar liar pants on fire!