Yellen Updates X-Date, Says US Will Run Out Of Money On June 5

Dear Lord, ain’t they just?

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Also revenues coming in, which is not micro-level predictable. Remember, you push out the drop dead date a few days, people shrug. You move it sooner, you get crucified.

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The WH explaining the R’s taking food out of the mouths of the poor so their billionaire overlords get tax breaks Chad Pergram’s entire thread is worth the read number 4 tweet of 4. ETA: number 3 for context.

4) The new debt they would force onto the American peoples’ credit card with this wasteful handout to billionaires and giant corporations is literally 300 times the savings that would be pocketed by making 300,000 of our fellow citizens go hungry.

— Chad Pergram (@ChadPergram) May 26, 2023

3) WH: The GOP claims doing so is necessary in the interest of $11 billion in deficit reduction. But at the same time, they have doubled down on tax cuts skewed to the rich and special interests that would add $3.5 trillion to our debt.

— Chad Pergram (@ChadPergram) May 26, 2023
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I’m of a mind to change my oft stated theme.

THE OLIGARCHY MUST BE MURDERED OUTRIGHT.

Waddya think?

Watch the vid and start the weekend happy…

https://twitter.com/KaivanShroff/status/1662229302224760832


Kaivan Shroff


@KaivanShroff

Trump could never have this moment. DeSantis could never have this moment. They don’t understand human decency.

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But but…

Her math

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If she shows them the math, I think she should show the numbers with and without the Trumpy Tax Cuts applied. It would be interesting to see how many days that skews the X-Date.

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Good. I’m in CA for the week, so perhaps I will see the resolution before I go to bed. :slightly_smiling_face:

So awesome. If he’s boring, more of this, please.

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The debt limit shoulda been raised when the budget process began. Or abolished which is what I would prefer

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Fed $ = zero as of 6/5/23
To a repub that is gruesomely hard math

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No …
Just removed from wealth

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Haha, make those R critters come back from vay-cay early!

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It is not impossible that the actual date will be earlier.

One of the things that killed the former USSR is that people and companies simply stopped remitting their taxes to the central government. If you think there’s going to be a default, do you bother sending in your checks?

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Awwww, that’s so precious.
Nice to see your soft underbelly there sniffit. :kissing_heart:

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Seems unlikely the executive would deprioritize IRS enforcement, despite the GOP’s best efforts (yes, they managed to knock $10 bil off an $80 bil increase in enforcement funding).

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10 more days before CNN has to come up with another ratings stunt.

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In the long run, you’re right :neutral_face: but over the course of a few days or weeks the IRS isn’t really in a position to do anything but send out notices saying “Hey! your payment is late”.

I doubt the effect in the short run would be more than a few billion one way or the other, but that kind of thing could still potentially change X-day.

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The trick may be that there is no money to make the payments for Social Security cycle 2, due that Wednesday.

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Maybe they can have a town hall with the COVID virus.

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