Good day all. The Biden Maladministration has demonstrated that it doesn’t matter how incompetent or deranged you may be, they have a place for you. Secretary of Treasury Janet Yellen is no exception.
She is noted for, among so many other things, that the massive increase in Bidenflation we’ve been experiencing was just a temporary problem. Now she has decided to double down on her incompetence and stupidity by saying that the National Debt really isn’t all that big a deal. Here are the details from CNBC:
Treasury Secretary Janet Yellen on Thursday said the swelling national debt is manageable as long as it stays around where it is relative to the rest of the economy.
Which it won’t. If things don’t work out they way we all hope in November, we can expect hyperinflation and economic collapse.
In a CNBC interview, Yellen also noted that high interest rates are adding to the burden as the U.S. manages its massive $34.7 trillion debt load.
“If the debt is stabilized relative to the size of the economy, we’re in a reasonable place,” she told CNBC’s Andrew Ross Sorkin during a “Squawk Box” live interview. “The way I look at it is that we should be looking at the real interest cost of the debt. That’s really what the burden is.”
Does this incompetent Globalist even know how to balance her own check book? Does she think it’s a great idea to just pay the minimums on her credit cards?
Multiple Congressional Budget Office reports have warned about the soaring costs of debt and deficits, cautioning that over the next decade the public share of the national debt — currently about $27.6 trillion — will hit a new record as a share of the total economy over the next decade.
Not necessarily, but to prevent it, we need to emulate the president of Argentina, Javier Milei. He took a wrecking ball to the Argentine government and cut the spending by about half if not more. He also closed all sorts of regulatory agencies and laid off government workers. Guess what happened? The Argentine economy exploded, they generated a budget surplus for the first time in forever and inflation is plummeting. This is what needs to happen in the United States. That isn’t what Yellen or the Democrats have in mind.
Yellen touted President Joe Biden’s plans to manage the situation.
“In the budget the president presented for this coming fiscal year he proposes $3 trillion of deficit reduction over the next decade,” she said. “That’s sufficient to basically keep the debt-to-income ratio stable, and this interest burden would be stabilized.”
Bidenomics is a major reason we’re in the mess we are in now economically. To be honest, it did start with the Fauci Flu and the Governmental health agencies in the United States and globally flat out lying about pretty much everything. This led to the initial two week stay at home order that was massively ramped up into the global lock-downs. Even so, things were starting to turn around, then we had the Tainted Election of 2020.
With the installation of the worst President and Vice President in American history, the money taps were opened by both Congress and the Federal Reserve. So call “Stimulus” payments that weren’t needed were sent out and of course, the debt skyrocketed. Dementia Joe and the retired prostitute, Kackling Kamala Harris, rather then pulling back, just doubled down.
At an event later in the day, Yellen said the administration is aware of the inflation issue but noted that the U.S. is “enjoying the strongest recovery of any advanced nation, and our strong growth is really lifting growth globally.”
“Americans are clearly very concerned about the cost of living, and dressing the high cost of living remains a top economic priority for the president,” Yellen said at a luncheon with the Economic Club of New York. “We know that there are areas of their budgets where Americans are really having trouble making ends meet.”
I find that very amusing, that Dementia Joe Biden is aware of the inflation problem, and is fixing the mess he caused. Joe Biden isn’t aware of anything these days. The Democrats are again talking about using the 25th Amendment to remove the senile idiot. (I doubt it will happen now. It’s to late)
Yellen is incompetent. How she got where she is today is a mystery to me. We all know how Kackling Kamala got her. It involved selling her ass to people who could help her. Yellen must have some serious blackmail information on certain parties. She certainly didn’t get where she is by actually having any competence. Hopefully, things will take a turn for the better next year, provided things work out as I hope in November. We shall see of course.
Thatisall
(4 votes, average: 4.00 out of 5)
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