“While I have a high degree of confidence that Treasury will be able to finance the U.S. government through December 15,” Yellen wrote, “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.”
Yellen then begged for what the Big Government Left craves like junkies coveting syringes. “To ensure the full faith and credit of the United States, it is critical that Congress raise or suspend the debt limit as soon as possible.”
はい, more federal debt! Just what America needs as the rising tide of red ink nears $ 29 trillion and climbs ever skyward.
Yellen’s comments are not even new lies. They are cliches. “Everybody knows” that Treasury revenues are so tight that default looms, just over the horizon. The Left’s incessantly screamed rubbish has become received wisdom.
And yet it is completely bogus.