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It's McCon that lying. They raised the debt limit 3 times under the trump administration, now McCon says no. If the debt limit is not raised everything financial will go to hell. Electing any republican is a self destructive act.

Tony is a parrot 🦜 for the lizard people. 🦎

Give him a peanut.

TOPLINE Treasury Secretary Janet Yellen on Tuesday dismissed the contentious idea of tapping a legal loophole to mint a $1 trillion coin as a last-ditch effort to help the United States pay its debt, saying the concept shouldn’t be considered seriously despite its popularity on social media and the growing risk that the United States could plunge into a recession if lawmakers fail to raise or suspend the debt ceiling in the next two weeks.

KEY FACTS
In a televised appearance on CNBC, Yellen said she’s opposed to minting a coin to help pay off some of the nation’s debt—a seemingly absurd idea that’s nonetheless garnered backing from a few notable economists, including Nobel Prize winner Paul Krugman.

Minting the coin, Yellen said, would be equivalent to asking the Federal Reserve to print money to cover deficits that Congress is unwilling to cover by issuing debt—thereby compromising the independence of the Fed, which is charged with overseeing monetary policy.

“It’s a gimmick,” the former Federal Reserve chair added, saying the idea also conflated the responsibilities of the central bank and the Treasury.

Yellen’s comments follow a wave of renewed interest in the concept of a trillion-dollar coin, with a few lawmakers, including Reps. Jerry Nadler (D-N.Y.) and Rashida Tlaib (D-Mich.) even jumping on the #MintTheCoin Twitter trend by advocating for it on social media.

Despite turning down the idea, Yellen doubled down on the critical nature of ensuring that the United States acts to raise or suspend the debt ceiling, saying she “fully expect[s]” the nation would plunge into a recession if it doesn’t do so by October 18, when she believes the Treasury will exhaust its ability to make payments on financial obligations.

In a briefing Monday, White House Press Secretary Jen Psaki also struck down the idea of minting a coin, saying it wasn’t a “viable” option “either because [it] wouldn’t be accepted by the Federal Reserve, by the guidance of our Treasury Secretary, or just by legal restrictions.”

More...

https://www.forbes.com/sites/jonathanponciano/2021/10/05/its-a-gimmick-yellen-opposes-minting-1-trillion-coin-to-save-the-united-states-from-historic-debt-default/

It's McCon that lying. They raised the debt limit 3 times under the trump administration, now McCon says no. If the debt limit is not raised everything financial will go to hell. Electing any republican is a self destructive act.

I am still reconciling that (a) we need to raise the debt ceiling because we cant pay our current loans back and (b) D's want to pass a 3.5 Trillion dollar spending package...