I've made several posts as to the seriousness of the situation involving a potential government shut

• 09/22/21

I've made several posts as to the seriousness of the situation involving a potential government shutdown and the need to raise the debt ceiling before the country literally runs out of money. Late tonight The House of Representatives passed a bill that would both prevent a government shutdown and suspend the debt limit in a step toward preventing possible economic calamity. The package approved Tuesday would provide stopgap money to keep the government funded to Dec. 3 and extend borrowing authority through the end of 2022. It includes $28.6 billion in disaster relief for the aftermath of Hurricane Ida and other extreme weather events, and $6.3 billion to support Afghanistan evacuees in the fallout from the end of the 20-year war. This might sound like excellent news but it now means it heads to the Senate where at least 10 Republicans and all 50 Democrats must vote yes for it to pass. As you might recall Senate Minority Leader Mitch McConnell has said in numerous interviews and tweets that not a single Republican will vote for the debt ceiling issue. Both Joe Biden and Democrats in Congress seem to be placing a large wager that not only McConnell, but 9 other Republicans are bluffing. They have until 9/30 at 11:59pm to pass a shutdown bill before the new fiscal year begins and if unfunded, the government shuts down. The debt ceiling, according to Treasury Secretary Yellen, has until about mid October before they run out of extraordinary measures and the government runs completely out of money. On Monday, Joe Biden flatly rejected the so call "trillion dollar quarter" proposal using a loophole in a law meant for coin collecting to have the Treasury department mint a platinum coin of a value they determine and then deliver it to the Federal Reserve who would in turn credit the debt owed by Treasury thus putting them below the current debt ceiling. He said he rejected that idea because he trusted McConnell to do the right thing. Time will tell and that time is running out. Sources House passes bill to avoid government shutdown, suspend debt limit — but it faces Senate roadblocks with deadlines near https://www.cnbc.com/2021/09/21/government-shutdown-house-passes-funding-debt-ceiling-bill.html?__source=androidappshare /////// https://www.businessinsider.com/white-house-says-no-mint-the-coin-mcconnell-debt-ceiling-2021-9 ////// House Vote Sends Debt-Limit, Government Funding Bill to Senate https://www.bloomberg.com/news/articles/2021-09-22/house-vote-sends-debt-limit-government-funding-bill-to-senate ///// #tcardizzle #debtceiling #economics

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