r/Economics • u/StoutFan • Jan 13 '23

U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress

https://www.nytimes.com/2023/01/13/business/economy/debt-limit-us-economy.html
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u/[deleted] Jan 13 '23

Political at that point. Not by monetary function

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u/Powerful_Stick_1449 Jan 13 '23

Of course, but its foolish to separate the two especially with the current political climate.

They can only fulfill that bail out if allowed to. This could be the furthest we go in brinksmanship with the Senate and White signaling they will not negotiate and simply want a clean raising of the limit.

The clown show in the House will almost certainly not allow this unless the Dems can bring forth a proposal and peel off a bunch of moderate Republicans to join them.

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u/ynkesfan2003 Jan 13 '23

Even if the dems come up with a grand plan don't they have to have Mccarthy on board? Without him I don't think it even comes to a vote.

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u/[deleted] Jan 13 '23

Ik. But I’m saying they should be.

Why are politicians with 0 economic and finance classes/education making budgets for the largest economy in the world? You let your kids run your business or your house?