*The United States Treasury Department Thursday, January 19 projects that the American country’s Federal Government will reach its legal borrowing capacity

Isola Moses | ConsumerConnect

United States Treasury Secretary Janet Yellen  Thursday, January 19, 2023, reveals the US Federal Government has come up against its borrowing limit of over $38.3 trillion.

Yellen stated the government would be setting up an-early June fight to avoid a potential US default.

US Dollars 

In a letter to new House of Representatives Speaker Kevin McCarthy, the Treasury Secretary noted that her office had begun “extraordinary measures” to avoid breaching the limit and keep normal government operations going through June 5, New York Post report said.

However, Yellen said “the period of time that extraordinary measures may last is subject to considerable uncertainty … “I respectfully urge Congress to act promptly to protect the full faith and credit of the United States.”

Uncle Sam is playing the same game as broke, disgraced crypto king

House Republicans have demanded cuts in spending in exchange for increasing the debt ceiling, as has been done approximately 80 times since the 1960s.

However, US President Joe Biden’s administration has flatly refused to consider any reductions, report noted.

White House Press Secretary Karine Jean-Pierre, however,  told reporters Wednesday, “we’ve been very clear there should not be any negotiations around here.

“We’re going to be very clear it should it be done without conditions.”

 

 

 

 

*The United States Treasury Department Thursday, January 19 projects that the American country’s Federal Government will reach its legal borrowing capacity

Isola Moses | ConsumerConnect

United States Treasury Secretary Janet Yellen  Thursday, January 19, 2023, reveals the US Federal Government has come up against its borrowing limit of over $38.3 trillion.

Yellen stated the government would be setting up an-early June fight to avoid a potential US default.

In a letter to new House Speaker Kevin McCarthy, the Treasury Secretary noted that her office had begun “extraordinary measures” to avoid breaching the limit and keep normal government operations going through June 5, New York Post report said.

However, Yellen said “the period of time that extraordinary measures may last is subject to considerable uncertainty … “I respectfully urge Congress to act promptly to protect the full faith and credit of the United States.”

Uncle Sam is playing the same game as broke, disgraced crypto king

House Republicans have demanded cuts in spending in exchange for increasing the debt ceiling, as has been done approximately 80 times since the 1960s.

However, US President Joe Biden’s administration has flatly refused to consider any reductions, report noted.

White House Press Secretary Karine Jean-Pierre, however,  told reporters Wednesday, “we’ve been very clear there should not be any negotiations around here.

“We’re going to be very clear it should it be done without conditions.”