What’s Biden going to do now?
The Bipartisan Policy Center has just announced that the United States could soon run out of money to meet its obligations as soon as December 21st all thanks to President Biden and the Democrats.
Experts originally believed that United States would run out of money by mid-February however it has become more clear that cash will now run dry by late December.
According to Market Watch, BPC director of economic policy Shai Akabas stated, “Those who believe the debt limit can safely be pushed to the back of the December legislative pileup are misinformed.”
“Congress would be flirting with financial disaster if it leaves for the holiday recess without addressing the debt limit,” he further explained.
Now President Biden and the Democrat-controlled Congress only has a few weeks to act.
What’s even worse is that President Biden’s Treasury Secretary Janet Yellen recently warned that failing to address the debt limit crisis will “eviscerate” the U.S. economic recovery.
President Biden and Vice President Kamala Harris have a major problem on their hands and it still looks like they don’t have a real plan to the solution. They cannot just keep kicking the can down the road. They must act now!