Treasury Secretary Janet Yellen implored Congress to "protect the full faith and credit of the United States" or face imposition of "extraordinary measures."
I’m expecting Trump will refuse to raise the limit unless he’s personally enriched. My personal guess is that at some point in this term he’s going to try to take out a large personal loan backed by the US economy. Probably by eliminating the debt ceiling and then just printing money for himself.
If Paul Krugman and Rashida Talib ever liked this idea as a workaround for GOP obstructionism, then there’s not a high likelihood of it happening once the new Congress is in office on Jan 3.
I’m expecting Trump will refuse to raise the limit unless he’s personally enriched. My personal guess is that at some point in this term he’s going to try to take out a large personal loan backed by the US economy. Probably by eliminating the debt ceiling and then just printing money for himself.
I’ve been wondering if he will try the trillion dollar coin workaround.
Previously, no one’s been willing to open that can of worms, but this is Trump we’re talking about.
If he mints a trillion dollar coin he’s absolutely just going to keep it.
In his pocket. And rub it for luck every time he sends a Truth Social tweet (I refuse to call it what they want me to call it).
The noun to describe a post to any social media platform (even lemmy though I say it with the best intentions) is “diarrhea”.
I’m half kidding of course - the post is what you make it and if it’s being posted on “truth social” it’s never the truth.
Or Elmo will take it and run
If Paul Krugman and Rashida Talib ever liked this idea as a workaround for GOP obstructionism, then there’s not a high likelihood of it happening once the new Congress is in office on Jan 3.