Treasury Secretary Janet Yellen at a Senate Appropriations subcommittee hearing in Washington on June 23.Dartunorro Clark
Treasury Secretary Janet Yellen said Tuesday the federal government might be unable to pay its bills starting Dec. 15, pushing back a previous deadline and giving Congress almost two extra weeks to find a way to avoid what would be the first default in U.S. history.to raise or suspend the federal debt limit sooner rather than later, revised her previous deadline, Dec. 3, to mid-December. She said the change is due in part to the newly enacted bipartisan infrastructure law, which allocates $118 billion to the Highway Trust Fund.
"While I have a high degree of confidence that Treasury will be able to finance the U.S. government through December 15 and complete the Highway Trust Fund investment, there are scenarios in which Treasury would be left with insufficient remaining resources to continue to finance the operations of the U.S. government beyond this date," she wrote in a letter to congressional leaders.
When does that start before they go on a long holiday break or after?
Er…there are valid arguments that the US has defaulted several times. This would not be the “first in US history”.
Oh boy it's January 2018 all over again... 🤷♀️
Here we go again...again.
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