Democrats are the ones that got us into this mess!
President Biden’s Treasury Secretary Janet Yellen has just sounded the alarm and is now claiming that the United States will end up in a recession if Congress does not raise the debt ceiling.
Could Biden and Yellen be fear mongering in an attempt to force the debt ceiling to be raised?
According to the Washington Examiner, Yellen is warning that the debt ceiling must be raised no later than October 18th or the United States will default on it’s obligations and has called on House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer to act immediately.
“What I can tell you is that it is utterly essential that this be done,” Yellen stated. “I do regard Oct. 18th as a deadline. It would be catastrophic to not pay the government’s bills, for us to be in a position where we lack the resources to pay the government’s bills. It really undermines confidence in the full faith and credit of the United States.”
Yellen then said if the debt ceiling isn’t raised it will likely spark a recession.
Yellen said a failure to raise the debt ceiling will result in over 50 million seniors not receiving their Social Security checks as well as cutting payments to U.S. armed forces among other things.
Treasury Sec. Janet Yellen says the U.S. faces a recession if Congress doesn’t address the debt limit within 2 weeks. “It’s utterly essential that this be done.” https://t.co/OUILT9KKG9 pic.twitter.com/SkTQ3R299C
— CNBC (@CNBC) October 5, 2021
Not only are Republicans refusing to do their job to raise the debt ceiling.
They are threatening to use their power to prevent us from doing our job — saving the economy from a catastrophic event.
It’s hypocritical, dangerous, and disgraceful.
— President Biden (@POTUS) October 4, 2021