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The simple answer is no. The United States is still pulling in tax money, more than sufficient to service the interest payments on the Debt. There is also enough left over to pay for the National Defense and a few other constitutionally mandated expenditures. What the government can\u2019t do is spend money it doesn\u2019t actually have. In other words, the credit cards have been taken away from Uncle Sam.<\/p>\n
This is driving the maladministration nuts, and they are pushing the idea that if we don\u2019t increase the debt limit, the United States will default. One of the biggest boosters of this is the Secretary of the Treasury, Janet Yellen. Here are the details from Newsmax<\/b><\/a>:<\/p>\n U.S. Treasury Secretary Janet Yellen said Friday a potential U.S. default could cause a global financial crisis and undermine the role of the dollar as a reserve currency. <\/b><\/p>\n The U.S. government hit its $31.4 trillion borrowing limit on Thursday, a figure that reflects money already spent by the government. Yellen has informed congressional leaders that her department had begun using extraordinary cash management measures that could stave off default until June 5. <\/b><\/p>\n “It (default) could cause a global financial crisis. It would certainly undermine the role of the dollar as a reserve currency that is used in transactions all over the world,” Yellen said in an interview with CNN, adding that in such a scenario many people would lose their jobs and see their borrowing costs rise. <\/b><\/p>\n Now, as to what those \u201cExtraordinary measures\u201d might be? It\u2019s simple. It\u2019s called \u201cLiving within your means.\u201d I don\u2019t have the actual numbers of course, but the Federal Government takes in somewhere between $4-6 Trillion dollars in taxes, fees and other sources per year.<\/p>\n The problem arises when Congress and the maladministration start borrowing money to pay for all their stupid little feel good projects. As to the June 5th<\/sup> date? That is a load of crap. April 15th<\/sup> is tax day and trillions of dollars will be sent to the corrupt maw of the treasury department. Basically, Yellen is incompetent and a liar.<\/p>\n The White House is refusing to negotiate with hardline Republicans on raising the debt ceiling because it believes enough of them will eventually back off their demands, as a growing chorus of investors, business groups and moderate conservatives warn of the dangers of edging towards a default. Republicans in the U.S. House of Representatives want cuts to some government programs. <\/b><\/p>\n A few years ago, Dementia Joe might have been right, but over the last few election cycles, the squishes, Rinos, globalists and the other members of the GOP(e) have been replaced by, as that corrupt retard calls them, the \u201cUltra MAGA Republicans.\u201d These are the people who forced McCarthy, a noted spineless squish to back down and promise that he wouldn\u2019t roll over, drop his pants and let the Democrats have their way with him.<\/p>\n Yellen said the debt ceiling was for spending that was already authorized by Congress and did not seek any additional expenditure. <\/b><\/p>\n “So it’s not about seeking the right to engage in additional spending. It is simply about paying bills Congress has already authorized,” she told CNN. “This is something you can’t negotiate over or bargain about.” <\/b><\/p>\n Yes, actually, it is. You go back to Congress and you explain to them that the programs, kickbacks and graft for programs they\u2019ve authorized isn\u2019t there and they need to rescind the spending. As for paying the bills? Well, let\u2019s take a look at what we can do.<\/p>\n First, start closing down all the non-mandated constitutionally spending. This means closing agencies and departments and laying off people. (these are the people that Yellen is afraid will lose their jobs) Second, make sure that the debt service continues, and preferably, more is paid then is owed. Third, pay the troops.<\/p>\n One thing that can be definitely cut is foreign aid, and yes, this probably means money to the Ukraine. Of course, most of the amounts of actual cash as opposed to weapons, parts and ammunition, is probably being stolen in any case. (I don\u2019t think much of it is actually reaching the Ukraine. There is a reason that so many Democrats praised Sam Bankman-Fried right up until FTX collapsed. That was probably where the money was going to be laundered)<\/p>\n Yellen also discussed her recent meeting with Chinese Vice Premier Liu He and said that China and the United States should continue regular communication and seek prospects for cooperation on matters of global importance like climate change. <\/b><\/p>\n “We discussed our cooperation and commitment to work together to address global challenges,” she said. <\/b><\/p>\n<\/a><\/p>\n<\/p>\n<\/p>\n<\/a><\/p>\n