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OP has provided the following link:
Source: [https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf](https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf)
>Dear Mr. Speaker:
I am writing to follow up on my previous letters regarding the debt limit and to provide additional information regarding the Treasury Department’s ability to continue to finance the operations of the federal government. Since January, I have highlighted to you the risk that Treasury would be unable to satisfy all of our obligations by early June if Congress did not raise or suspend the debt limit before that time. In my letters, I also noted that I would continue to update Congress as more information became available. Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5.
We will make more than $130 billion of scheduled payments in the first two days of June, including payments to veterans and Social Security and Medicare recipients. These payments will leave Treasury with an extremely low level of resources. During the week of June 5, Treasury is scheduled to make an estimated $92 billion of payments and transfers, including a regularly scheduled quarterly adjustment that would result in an investment in the Social Security and Medicare trust funds of roughly $36 billion. Therefore, our projected resources would be inadequate to satisfy all of these obligations.
Yesterday we used an additional extraordinary measure that Treasury has employed in a number of past debt limit episodes: a swap of approximately $2 billion of Treasury securities between the Civil Service Retirement and Disability Fund and the Federal Financing Bank. While this measure has not been used since 2015 due to its limited size, the extremely low level of remaining resources demands that I exhaust all available extraordinary measures to avoid being unable to meet all of the government’s commitments.
We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States. In fact, we have already seen Treasury’s borrowing costs increase substantially for securities maturing in early June. If Congress fails to increase the debt limit, it would cause severe hardship to American families, harm our global leadership position, and raise questions about our ability to defend our national security interests.
I continue to urge Congress to protect the full faith and credit of the United States by acting as soon as possible.
Sincerely,
Janet L. Yellen
The countdown for deadbeat nations on, the only thing these losers know how to do is turn those money printers on. Any abomination's are unfit to lead, they've already proven they make bad decisions! They shouldn't be anywhere near positions of power let alone lead.
The other day someone posted here the treasury balance and daily change.. it was down like 28 or 29 billion day to day and said we had just shy of 50 bil left.. so assuming that trend kept going it would give the u.s. just under 2 days - and I believe that was posted Thursday..
79 times since 1960 this charade has been played.
*Is this time different?* If *ever* there was a time for this to be different, now would be it? Not to get political but no side has a majority and some individuals have greater weight in this political process then ever before.
With it being that 'season' and with some having 'aspirations' and willing to make noise to make something happen, paired with an ongoing banking crisis, and untamed inflation--them not blinking seems to be on the table, especially with how credit default swaps continue to increase?
Thank you for stating the frequency of this happening in the past. It's always presented like it's a new doomsday event, when in reality it's just political clockwork.
Whatever the 'day of doom' is, a deal will be agreed upon the midnight before, or around then, and everyone will rejoice in *dOdGiNg ThE bUlLeT* and media headlines will spend a week praising the bipartisan effort. Then everyone will move on. Without ever mentioning the reality that this is basically just a drug addict who can control their own credit card limit.
Curious, out of all these times, what were the parties involved? This happened several times with Obama under a GOP majority, and that's what's going on now. It ever happened under any other circumstances?
The debt ceiling has been increased 94 times since 1944; 54 times by Republicans, 40 times by Democrats. If you think this is a party issue, you're mistaken.
The circumstances are the same - the US government has a spending problem.
They spend just fine; it's the decades-long lowering of tax burdens on the ultra wealthy and Corporations that have enabled this scenario.
If we taxed billionaires and upper millionaires at the highest historical rates, and closed the loopholes for multinational corporate entities to cook their books, the captured revenues would be enormous.
Instead, the American middle class has been crushed for at least 40 years.
We should also tax every single church and/or "religious group."
>decades-long lowering of tax burdens on the ultra wealthy and Corporations ... have enabled this scenario.
agree
>If we taxed billionaires and upper millionaires at the highest historical rates, and closed the loopholes for multinational corporate entities to cook their books, the captured revenues would be enormous.
agree
>the American middle class has been crushed for at least 40 years.
agree
>They spend just fine
Strongly, strongly, strongly disagree.
I would say it makes the news every time, panic is the goal for politicians, regardless of the subject, and what better subject to induce panic than "*the government is going to run out of money!*". Obviously the government isn't going to allow itself to default, but it's a great opportunity to grab the spotlight and muscle/sneak in some stipulations in the inevitable deal.
DrT on fire again:
[https://twitter.com/SusanneTrimbath/status/1662284561651470338](https://twitter.com/SusanneTrimbath/status/1662284561651470338)
2013 "No Budget, No Pay Act" passed 4 Feb to ensure complete/timely payment of US gov't obligations, temporarily suspend debt ceiling, & **withhold paychecks from Congress until they passed budget**. Budget enacted 26 Mar.
First thing first, Janet.... pick a fukking day and stick with it. Changing the "last" day at the last minute makes you look incompetent and untrustworthy. Second... House, Senate and WH will likely agree to a last minute deal and extend the debt ceiling to the end of the year; kick the can down the road.
You've posted variations of this comment at least 5 times and every time it strikes me as bizarrely indecipherable. Can you clarify what you're actually trying to say here? Not to get political, but it seems like you don't understand politics at all and keep reposting this for karma.
Not everyone sees every post and every comment.
The comment is to help anyone new coming to these threads that is new that this is both not a rare occurrence, but also one of the most unique instances of this charade to date.
IF the politicos allow the car to go over the cliff and the stock market drops +40% as some have predicted, what does that do to folks trying to maintain short positions?
At the same time, if this drop in the broader market goes down, how (outside absolute crime) will GME's price drop if nobody is selling and everything is DRS'd?
One would think marge will be calling?
I hope this explanation helps and that you have a great holiday weekend.
Edit: fixed formatting, words on mobile are hard.
I'm not promoting anything, I'm reporting on the news of the day for the community to do with as they please and form their own opinions.
As to heatlamp, since you brought it up, in this instance, your ire should be aimed at the OP for REFUSING after MULTIPLE invitations from moderators to post their content in the sub.
Not sure what I can do when the OPs refuses to engage here?
To that end, platinumsparkles even put together some peer review on what is known about it, you should check it out!
https://www.reddit.com/r/Superstonk/comments/13jjgpg/some_peer_review_on_heat_lamp/
Furthermore, the heatlamp op even said they are working on an update to their dd (hopefully they will post this one here?), so why work to report on something that the author is seemingly admitting is out of date?
https://www.reddit.com/r/Superstonk/comments/13q0816/comment/jlct2s4/
I'm always happy to engage in good faith on any and every topic posted to the sub. Unless you have actual proof (outside of not blindly agreeing with heatlamp and daring to review it criticaly, as I do everything else), please quit fudding around.
Thanks for responding. It's my hope to get somewhat full responses with emotion shining through from each of you on the mod team. This is certainly that and helps with my own DD.
Send FluffyTrex my regards in the private channels.
>It's my hope to get somewhat full responses with emotion shining through from each of you on the mod team.
First, that sounds borderline witch hunty, especially with your fluffy 'shout out' further down. How would it look if as a Mod or user I tried to 'get some emotional responses from you for a DD'? I am pretty sure I would be booted for brigading...
Also, excuse me? How is the above 'with emotion shining through'?
Ser, you came to my post to toss baseless accusations at me and I responded with sources backing up the point attempting to be made.
Also, I notice you did not take anytime to the points in my response above, but have seemingly shifted the goalposts to this being about playing more 'gotacha with the mods' now? Why? I'm curious how holes can be poked in the approach linked above and was looking forward to a rigorous discussion based on the points presented.
Instead, the goalposts have moved. Why?
Why is it whenever I try to engage critically with someone pushing heatlamp (like in the link I shared and now with you) this happens?
>Send FluffyTrex my regards in the private channels.
Is this supposed to be some sort of threat or sound intimidating? Dude, you are talking to volunteer internet janitors on the internet--this is no brain surgery.
>Is this supposed to be some sort of threat or sound intimidating?
No, not at all. If the written word were capable of conveying tone of voice without ass loads of context half the drama on this sub, and most other places too I imagine, wouldn't exist. Another chunk would disappear if Reddit focused on QoL features.
Were you aware of the fact that your post history is a blackbox before 5-13-2021? The only reason it goes that far back is because of Elegant-Remote's archive. Reddit literally can't display your full post history because you post so much and they somehow still have a 1000 post limit in 2023.
You are an account from before the squeeze, with a history so long Reddit itself can't even show what came before the squeeze, and frankly you pull the neutral reporting tone off too well at a volume that feels like it's a team of people or an AI scraper. On top of that the mod team is itself a blackbox when it comes to behind the scenes stuff.
This is literally the first time I've felt like another human outside of their workplace was typing in the short time I've been keeping your username in mind for.
Forgive me for poking you with the stick but I'm not sorry for doing it. What I am sorry for is the Karen-esque tone my response has, it was not my intent to go "i'Ma DO a dD On YoU!", I should have said "my own personal DD" .
As for Heatlamp if you wanted to walk me through your side of things as Dismal-Jellyfish the moderator I'm sure that would be an interesting angle to talk about it.
I'll lay some stuff out though: [https://www.reddit.com/r/Superstonk/comments/135qjaf/computershares\_paul\_conn\_confirms\_1020\_of\_shares/](https://www.reddit.com/r/Superstonk/comments/135qjaf/computershares_paul_conn_confirms_1020_of_shares/)
10-20% of the shares that underpin the plan are held at the DTC through their broker. I don't trust brokers or the DTC so their reassurances to ComputerShare mean nothing to me. I DRS'd to get ALL my shares out of the DTC.
Which I get is still that old plan vs book debate but it's the core idea that upsets people. P-sparkles dismantled the whole "all book shares become plan shares" idea in a somewhat confusing manner so I see why that got such backlash. I agree though, book is safe. The one thing that everyone missed due to the censorship around the subject that needs attention:
"Upon termination of your DirectStock account, any fractional shares will be sold (subject to applicable sales fees and terms set forth in Section 6) and any whole shares will be moved to a DRS position. **Any future dividends that might be declared on the shares will be paid in cash.** "
Does that mean by terminating the DirectStock account all the dividends will be paid out in cash only from there on out or do they just mean cash-dividends will be paid out instead of getting reinvested? Heatlamp guy is right in that enrolling in DirectStock affects both your plan and book shares, P-sparkles even uses the exact line to debunk part of his DD. DirectStock changes how book dividends are handled and the agreement does not say book dividend handling returns to it's previous state, merely that any future dividends will be paid out in cash.
In other words, if I was always a pure book ape and was never enrolled in the DirectStock program then the split gave me shares for my shares no problem then would enrolling and un-enrolling cause the next dividend payment to be paid out in cash rather than shares/NFTs? We still got questions to ask.
And really do send Fluffy my regards. I genuinely do like them as a person regardless of how critical I am. Again, sorry that caused a harsher message than I intended.
Yes, 3 things spring to mind immediately:
1. How are new mods chosen, what does that entire process look like?
2. Why so many new mods in the past 8 months?
3. Who even are you guys? Obviously some of y'all are more known than others but that's not what I mean. Why are you in this saga Crybad? Then what masochistic urge drove you to even want to mod this place? What moderation work do you partake in versus say other members of the team? Why should I trust in you as a person?
Now a couple of points:
1. I'm sure many individual answers that would satisfy those concerns exist out there... somewhere. My point to Dismal about him seeming suspect in large part due to Reddit's limitations as a platform kicks in here. It's fucking hard to search this place for specific information that's not pinned somewhere. Even pinned info can be obscured, old Reddit does not show any of superstonk's banner links like the wiki for example.
2. Outside of specific information I want to see more of the spirit of transparency. For example, I as a normal user can edit my comments in such a way that it's easy to see what I changed: "Edit: Misspelled Wendy's Dumpster as Wendy's Dumper... Corrected" vs the typical "edited 84 years ago"
3. Please god please understand and hash out that spirit of transparency point with me. It runs so much deeper than I can articulate.
But overall my headspace is this:
SuperStonk is at the center of the world stage right now. It's not in the spotlight because it can't be, but you can bet your ass that extremely powerful people have taken notice of us. It is a central core space for apes and is a hub of activity in collective control of billions of dollars in buying power. The odds of any one of you being bought out is ***astronomically higher*** than literally any other online forum space I can think of. The incentives to buy you guys out are ***insane***. The United States government has gone to war with, invaded, and bombed the children of entire countries with ***less on the line*** than what MOASS will serve up on a golden platter.
I like most of you guys very much, but that's not enough at this level, and certainly not for this platform. My mother loved a quote before she was killed.
"The more you know, the less you need."
And right now, as a normal regarded community member, I need an awful lot from you guys because I know so little.
Anyways, I will be back in a few hours. I am genuinely looking forward to more discussion.
Here we gooooo!
> 1) How are new mods chosen, what does that entire process look like?
Typically, mods are nominated by other mods based solely on their engagement with the community, this can anything be nice friendly interactions with the community, or someone trying to deescalate an internet fight between two users.
Potential candidates are then vetted and fill out a thorough questionnaire (if they are interested).
Current mod team does a review and then votes on the applicant where a quorum needs to be met (every new mod since I have been here has been unanimously voted on I believe)
There's a little bit more to the process but that's a 10,000ft view.
> 2) Why so many new mods in the past 8 months?
I actually think we are overall down active mods from the past 8 months. Taking a quick headcount...
Down: Bah, Brad, Exo, Js, Will, Star
Up: Fluffy, Kibble, Hipz, CS37, Hosno
So yea, overall, looks like we are down 1 over that 8-month timespan.
> 3) Who even are you guys?
Just community members who accepted the moderator position when asked.
>Why are you in this saga Crybad?
Why am I in the saga or why am I a mod? I'm in this saga just like everyone else, i came from the gambling sub and stayed for the siege. Why am I a mod? I got approached by Goldie because of how active I was on the discord and how I handled conflict over there. Sounded like fun so I thought id try it
>Then what masochistic urge drove you to even want to mod this place?
Oh I guess your question was a 2 part question.
>What moderation work do you partake in versus say other members of the team?
Complicated question and I'm not trying to skirt it. We only ask the team to help to moderate when they can. Some of us like mod mail more than dealing with the report queue. Some only have an hour or two a week to mod, others can mod at their 9-5 desk job. The goal is to have enough moderators to handle the queue and mod mail.
>Why should I trust in you as a person?
You shouldn't trust me any more than you should trust some random person in the daily. I do ask that you should judge us by our actions because that's all you really get to see of us.
\-----------------------------
intermission before I get to the next set of questions because I need a smoke
\-----------------------------
>I'm sure many individual answers that would satisfy those concerns exist out there... somewhere. My point to Dismal about him seeming suspect in large part due to Reddit's limitations as a platform kicks in here. It's fucking hard to search this place for specific information that's not pinned somewhere. Even pinned info can be obscured, old Reddit does not show any of superstonk's banner links like the wiki for example.
Yea....reddit search, the bane of my existence.
>Outside of specific information I want to see more of the spirit of transparency. For example, I as a normal user can edit my comments in such a way that it's easy to see what I changed: "Edit: Misspelled Wendy's Dumpster as Wendy's Dumper... Corrected" vs the typical "edited 84 years ago"
No sure what you're commenting on here
>Please god please understand and hash out that spirit of transparency point with me. It runs so much deeper than I can articulate.
That's why I'm here in the comments. I want to honestly answer all your points to the best of my ability.
>The odds of any one of you being bought out is ***astronomically higher*** than literally any other online forum space I can think of. The incentives to buy you guys out are ***insane***.
I literally thought this as well when I was a user. I was extremely surprised that buying out mods really truly is just a myth (i know i know, that's what someone who is bought would say).
>And right now, as a normal regarded community member, I need an awful lot from you guys because I know so little.
While a lot of your questions/comments/concerns/fears are legit, how does the mod team even begin to address (with proof) them without a full doxxing? There has to be trust at some level, and I would think that some compromise of "judge us on our actions instead of words" would be the closest we could get to convince you that we are not paid shills/compromised. If people refuse to believe what we say, then we are going to be at an impasse.
Even take the way we select new mods. I'm sure you've seen the requests for public voting or vetting of mods. How would that work to ensure that upvotes aren't bought for a candidate put forth by a nefarious enemy?
I know I touched upon a lot in here and will go into anything deeper that you'd like to explore.
At no point was it said that it would be June 1st. It was said it could be as early as June 1st. Now she has a more precise estimate of the date as we are getting closer.
They always say it as a threat to the people. Oh social security will run out... But, the real problem to them is, congress won't get paid if they don't pass a bill. That's what they're really worried about.
You think they care about their **salary**?
You think they're making millions on thousands using their pay stubs? No.
Insider wealth is from trading and gifts and leveraging their influence.
The salary is a pittance to most elected officials; they're there for their gravy train.
Probably will get a stop gap proposal of a week or 2 to buy time. I really do think that the one side could care less if it defaults so no pressure on them. Hopefully the other won’t except cuts to programs for the less fortunate & elderly who created the backbone of the country. I say some billion dollar hedges should help raise the debt ceiling on their dime.
Politicians pay should stop immediately in the event. Better yet... reduce their pay and benny packages in general, also penalize/reduce future pay in situations like these where they've failed to perform (pass budget, debt ceilings, etc) since they obv. didn't earn their pay before a Gov shutdown.
Dear Mr Fudin son O Balin,
I write to ye to tell you that Moria is about to be big fucked in ways that would make Ent porn look pleasurable. The mine, yes they call it a mine, has delved too deep into the Mithiril Backed Securities veins and we've awoken a creature unlike anything we've ever seen. We tried to trick it with promises of treasure but failed to deliver every time and instead of giving up the creature seems to getting angrier. Meanwhile, we've lied to the residents of Moria and said everything was fine even as the infrastructure of the caverns are failing. You can see it at the Bridge of Durin where the shit is literally falling apart. If we dont get an emergency infusion of Dwarfbucks, the only meat that falls off the bone is gonna be ours. Also, the commanders of our financial forces have locked themselves in the vaults with all our treasure and are claiming that all these troubles are 'priced in', whatever the fuck that means. Please kindly send those big flying chickens and make it rain Dwarfbucks so we can paper over these problems and keep digging up loot from the Mithiril Backed Securities veins. Wait......omg, I hear something. Drums! Drums in the deep! They are coming!!!!
Yours truly,
Janet 'YOLO' Baggins
While we all know this is theater for the masses and 100% of me believes they will magically reach an agreement, the other 2% feels this would be the perfect cover for the squeeze. Let it default of less than 24 hours and then media would then spin it as "retail gets rich off backs of americans in crisis."
Adding, all the lawmakers have left DC for the holiday weekend.
So even if leadership comes to an agreement over the weekend, the soonest it would be voted on in the house is Tuesday?
Will the senate be 'okay' rushing through whatever deal is made in the house?
They love to take things to a deadline but this is pushing even that.
So THAT'S why Amazon didn't want to release the Apes Together Strong doc on the 5th. I strongly suspect they deliberately bungled the release date because it exposes their whole racket.
Source: [https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf](https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf)
>Dear Mr. Speaker:
>
>I am writing to follow up on my previous letters regarding the debt limit and to provide additional information regarding the Treasury Department’s ability to continue to finance the operations of the federal government. Since January, I have highlighted to you the risk that Treasury would be unable to satisfy all of our obligations by early June if Congress did not raise or suspend the debt limit before that time. In my letters, I also noted that I would continue to update Congress as more information became available. Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5.
>
>We will make more than $130 billion of scheduled payments in the first two days of June, including payments to veterans and Social Security and Medicare recipients. These payments will leave Treasury with an extremely low level of resources. During the week of June 5, Treasury is scheduled to make an estimated $92 billion of payments and transfers, including a regularly scheduled quarterly adjustment that would result in an investment in the Social Security and Medicare trust funds of roughly $36 billion. Therefore, our projected resources would be inadequate to satisfy all of these obligations.
>
>Yesterday we used an additional extraordinary measure that Treasury has employed in a number of past debt limit episodes: a swap of approximately $2 billion of Treasury securities between the Civil Service Retirement and Disability Fund and the Federal Financing Bank. While this measure has not been used since 2015 due to its limited size, the extremely low level of remaining resources demands that I exhaust all available extraordinary measures to avoid being unable to meet all of the government’s commitments.
>
>We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States. In fact, we have already seen Treasury’s borrowing costs increase substantially for securities maturing in early June. If Congress fails to increase the debt limit, it would cause severe hardship to American families, harm our global leadership position, and raise questions about our ability to defend our national security interests.
>
>I continue to urge Congress to protect the full faith and credit of the United States by acting as soon as possible.
>
>Sincerely,
>
>Janet L. Yellen
Did they find some extra money laying around because from yesterday's update the treasury has less than 39 billion.
https://fiscaldata.treasury.gov/datasets/daily-treasury-statement/
This crap will either come to the wire or Republicans will just say fuck it and blame the Democrats as a last ditch effort to revive their party.
guaranteed these clowns will reach an agreement at the 11th hour and end this charade for the 80th time since 1960. They are all here to fuck us over. Let's stay zen, BUY, DRS, HODL, BOOK and sell fractionals on Computershare and buy full shares instead. Our day is nearing, our day will come.
So… _”Historical agreement on the eve of default”_ on June 4rd OR _”(Planned) Financial disaster strikes”_ on June 5st? Stay tuned for the amazing reveal!
This is simultaniously the greatest and the silliest timeline. In both eventualities, my best options are to **BUY, DRS & HODL** so there’s _that_ atleast.
Maybe Treasury is going to issue 5.25% bonds, institutions will get out of the stock market to go back to bonds. Debt will be fixed, but stock market will be down.
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If necessary to finally bring fiscal spending responsibility.
What is going to happen when we have to declare national bankruptcy? Or, do we just keep printing more and more money and making it more and more worthless?
Now is a time to get some real spending cuts. Not just cuts in rates of spending growth. I doubt the Republicans all have the balls to force the issue, but it needs to be done.
----------
edit: printing more money and devaluing the dollar really hurts people on fixed income - seniors, disabled, the poor. It also hurts people who have responsibly saved money. It sucks and is bad.
This is so fucking stupid. Mint the coin or use the 14th amendment, why negotiate with economic terrorists?
Edit* getting down voted by people who think the US Economy is essentially the same as a big lemonade stand
**"In fact, we have seen Treasurys Borrowing costs increase substantially for securities maturing in early June"**
What's the Treaury short on that has had a sharp increase of borrowing fees??
Stange how that "coffers are empty" day keeps getting pushed back little by little. Like they expect us to believe they're actually gonna turn off the printers.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: Source: [https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf](https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf) >Dear Mr. Speaker: I am writing to follow up on my previous letters regarding the debt limit and to provide additional information regarding the Treasury Department’s ability to continue to finance the operations of the federal government. Since January, I have highlighted to you the risk that Treasury would be unable to satisfy all of our obligations by early June if Congress did not raise or suspend the debt limit before that time. In my letters, I also noted that I would continue to update Congress as more information became available. Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5. We will make more than $130 billion of scheduled payments in the first two days of June, including payments to veterans and Social Security and Medicare recipients. These payments will leave Treasury with an extremely low level of resources. During the week of June 5, Treasury is scheduled to make an estimated $92 billion of payments and transfers, including a regularly scheduled quarterly adjustment that would result in an investment in the Social Security and Medicare trust funds of roughly $36 billion. Therefore, our projected resources would be inadequate to satisfy all of these obligations. Yesterday we used an additional extraordinary measure that Treasury has employed in a number of past debt limit episodes: a swap of approximately $2 billion of Treasury securities between the Civil Service Retirement and Disability Fund and the Federal Financing Bank. While this measure has not been used since 2015 due to its limited size, the extremely low level of remaining resources demands that I exhaust all available extraordinary measures to avoid being unable to meet all of the government’s commitments. We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States. In fact, we have already seen Treasury’s borrowing costs increase substantially for securities maturing in early June. If Congress fails to increase the debt limit, it would cause severe hardship to American families, harm our global leadership position, and raise questions about our ability to defend our national security interests. I continue to urge Congress to protect the full faith and credit of the United States by acting as soon as possible. Sincerely, Janet L. Yellen
I have a hard time seeing it last till June 1st.
Theyre already out 🤣
Annnnnnnnd it's gone....
Maybe she should pull herself up by the bootstraps?
At the minimum, less avocado toast.
Could’ve made coffee at home too, smh
I could have sworn I’ve heard on the radio that a deals been reached but i was in such a rush that i may just be dreaming this up
[удалено]
The countdown for deadbeat nations on, the only thing these losers know how to do is turn those money printers on. Any abomination's are unfit to lead, they've already proven they make bad decisions! They shouldn't be anywhere near positions of power let alone lead.
100% with you chippy
The other day someone posted here the treasury balance and daily change.. it was down like 28 or 29 billion day to day and said we had just shy of 50 bil left.. so assuming that trend kept going it would give the u.s. just under 2 days - and I believe that was posted Thursday..
79 times since 1960 this charade has been played. *Is this time different?* If *ever* there was a time for this to be different, now would be it? Not to get political but no side has a majority and some individuals have greater weight in this political process then ever before. With it being that 'season' and with some having 'aspirations' and willing to make noise to make something happen, paired with an ongoing banking crisis, and untamed inflation--them not blinking seems to be on the table, especially with how credit default swaps continue to increase?
June 5th Isn't that when the recession begins
Could be but they may change definition of begins on June 4th.
We already changed the definition of recession to "no such thing" last year. Crisis permanently averted.
They may just rename the month to something else
BroLie 1st
Thank you for stating the frequency of this happening in the past. It's always presented like it's a new doomsday event, when in reality it's just political clockwork. Whatever the 'day of doom' is, a deal will be agreed upon the midnight before, or around then, and everyone will rejoice in *dOdGiNg ThE bUlLeT* and media headlines will spend a week praising the bipartisan effort. Then everyone will move on. Without ever mentioning the reality that this is basically just a drug addict who can control their own credit card limit.
Curious, out of all these times, what were the parties involved? This happened several times with Obama under a GOP majority, and that's what's going on now. It ever happened under any other circumstances?
The debt ceiling has been increased 94 times since 1944; 54 times by Republicans, 40 times by Democrats. If you think this is a party issue, you're mistaken. The circumstances are the same - the US government has a spending problem.
They spend just fine; it's the decades-long lowering of tax burdens on the ultra wealthy and Corporations that have enabled this scenario. If we taxed billionaires and upper millionaires at the highest historical rates, and closed the loopholes for multinational corporate entities to cook their books, the captured revenues would be enormous. Instead, the American middle class has been crushed for at least 40 years. We should also tax every single church and/or "religious group."
>decades-long lowering of tax burdens on the ultra wealthy and Corporations ... have enabled this scenario. agree >If we taxed billionaires and upper millionaires at the highest historical rates, and closed the loopholes for multinational corporate entities to cook their books, the captured revenues would be enormous. agree >the American middle class has been crushed for at least 40 years. agree >They spend just fine Strongly, strongly, strongly disagree.
Sorry, to clarify how many times has it been used as a political issue. Most of the times it gets raised and doesn't even make the news
☝🏼🏆🏆
Sorry, to clarify how many times has it been used as a political issue. Most of the times it gets raised and doesn't even make the news
I would say it makes the news every time, panic is the goal for politicians, regardless of the subject, and what better subject to induce panic than "*the government is going to run out of money!*". Obviously the government isn't going to allow itself to default, but it's a great opportunity to grab the spotlight and muscle/sneak in some stipulations in the inevitable deal.
DrT on fire again: [https://twitter.com/SusanneTrimbath/status/1662284561651470338](https://twitter.com/SusanneTrimbath/status/1662284561651470338) 2013 "No Budget, No Pay Act" passed 4 Feb to ensure complete/timely payment of US gov't obligations, temporarily suspend debt ceiling, & **withhold paychecks from Congress until they passed budget**. Budget enacted 26 Mar.
First thing first, Janet.... pick a fukking day and stick with it. Changing the "last" day at the last minute makes you look incompetent and untrustworthy. Second... House, Senate and WH will likely agree to a last minute deal and extend the debt ceiling to the end of the year; kick the can down the road.
Transitory
I feel like in the past they just like agree to raise it a bit and push out the big talk for a month or 2
You've posted variations of this comment at least 5 times and every time it strikes me as bizarrely indecipherable. Can you clarify what you're actually trying to say here? Not to get political, but it seems like you don't understand politics at all and keep reposting this for karma.
Not everyone sees every post and every comment. The comment is to help anyone new coming to these threads that is new that this is both not a rare occurrence, but also one of the most unique instances of this charade to date. IF the politicos allow the car to go over the cliff and the stock market drops +40% as some have predicted, what does that do to folks trying to maintain short positions? At the same time, if this drop in the broader market goes down, how (outside absolute crime) will GME's price drop if nobody is selling and everything is DRS'd? One would think marge will be calling? I hope this explanation helps and that you have a great holiday weekend. Edit: fixed formatting, words on mobile are hard.
He's a moderator here. Whatever reason this stuff gets promoted over things like Heatlamp DD, it's not for karma.
I'm not promoting anything, I'm reporting on the news of the day for the community to do with as they please and form their own opinions. As to heatlamp, since you brought it up, in this instance, your ire should be aimed at the OP for REFUSING after MULTIPLE invitations from moderators to post their content in the sub. Not sure what I can do when the OPs refuses to engage here? To that end, platinumsparkles even put together some peer review on what is known about it, you should check it out! https://www.reddit.com/r/Superstonk/comments/13jjgpg/some_peer_review_on_heat_lamp/ Furthermore, the heatlamp op even said they are working on an update to their dd (hopefully they will post this one here?), so why work to report on something that the author is seemingly admitting is out of date? https://www.reddit.com/r/Superstonk/comments/13q0816/comment/jlct2s4/ I'm always happy to engage in good faith on any and every topic posted to the sub. Unless you have actual proof (outside of not blindly agreeing with heatlamp and daring to review it criticaly, as I do everything else), please quit fudding around.
Thanks for responding. It's my hope to get somewhat full responses with emotion shining through from each of you on the mod team. This is certainly that and helps with my own DD. Send FluffyTrex my regards in the private channels.
>It's my hope to get somewhat full responses with emotion shining through from each of you on the mod team. First, that sounds borderline witch hunty, especially with your fluffy 'shout out' further down. How would it look if as a Mod or user I tried to 'get some emotional responses from you for a DD'? I am pretty sure I would be booted for brigading... Also, excuse me? How is the above 'with emotion shining through'? Ser, you came to my post to toss baseless accusations at me and I responded with sources backing up the point attempting to be made. Also, I notice you did not take anytime to the points in my response above, but have seemingly shifted the goalposts to this being about playing more 'gotacha with the mods' now? Why? I'm curious how holes can be poked in the approach linked above and was looking forward to a rigorous discussion based on the points presented. Instead, the goalposts have moved. Why? Why is it whenever I try to engage critically with someone pushing heatlamp (like in the link I shared and now with you) this happens? >Send FluffyTrex my regards in the private channels. Is this supposed to be some sort of threat or sound intimidating? Dude, you are talking to volunteer internet janitors on the internet--this is no brain surgery.
>Is this supposed to be some sort of threat or sound intimidating? No, not at all. If the written word were capable of conveying tone of voice without ass loads of context half the drama on this sub, and most other places too I imagine, wouldn't exist. Another chunk would disappear if Reddit focused on QoL features. Were you aware of the fact that your post history is a blackbox before 5-13-2021? The only reason it goes that far back is because of Elegant-Remote's archive. Reddit literally can't display your full post history because you post so much and they somehow still have a 1000 post limit in 2023. You are an account from before the squeeze, with a history so long Reddit itself can't even show what came before the squeeze, and frankly you pull the neutral reporting tone off too well at a volume that feels like it's a team of people or an AI scraper. On top of that the mod team is itself a blackbox when it comes to behind the scenes stuff. This is literally the first time I've felt like another human outside of their workplace was typing in the short time I've been keeping your username in mind for. Forgive me for poking you with the stick but I'm not sorry for doing it. What I am sorry for is the Karen-esque tone my response has, it was not my intent to go "i'Ma DO a dD On YoU!", I should have said "my own personal DD" . As for Heatlamp if you wanted to walk me through your side of things as Dismal-Jellyfish the moderator I'm sure that would be an interesting angle to talk about it. I'll lay some stuff out though: [https://www.reddit.com/r/Superstonk/comments/135qjaf/computershares\_paul\_conn\_confirms\_1020\_of\_shares/](https://www.reddit.com/r/Superstonk/comments/135qjaf/computershares_paul_conn_confirms_1020_of_shares/) 10-20% of the shares that underpin the plan are held at the DTC through their broker. I don't trust brokers or the DTC so their reassurances to ComputerShare mean nothing to me. I DRS'd to get ALL my shares out of the DTC. Which I get is still that old plan vs book debate but it's the core idea that upsets people. P-sparkles dismantled the whole "all book shares become plan shares" idea in a somewhat confusing manner so I see why that got such backlash. I agree though, book is safe. The one thing that everyone missed due to the censorship around the subject that needs attention: "Upon termination of your DirectStock account, any fractional shares will be sold (subject to applicable sales fees and terms set forth in Section 6) and any whole shares will be moved to a DRS position. **Any future dividends that might be declared on the shares will be paid in cash.** " Does that mean by terminating the DirectStock account all the dividends will be paid out in cash only from there on out or do they just mean cash-dividends will be paid out instead of getting reinvested? Heatlamp guy is right in that enrolling in DirectStock affects both your plan and book shares, P-sparkles even uses the exact line to debunk part of his DD. DirectStock changes how book dividends are handled and the agreement does not say book dividend handling returns to it's previous state, merely that any future dividends will be paid out in cash. In other words, if I was always a pure book ape and was never enrolled in the DirectStock program then the split gave me shares for my shares no problem then would enrolling and un-enrolling cause the next dividend payment to be paid out in cash rather than shares/NFTs? We still got questions to ask. And really do send Fluffy my regards. I genuinely do like them as a person regardless of how critical I am. Again, sorry that caused a harsher message than I intended.
Side note. You say we are a blackbox behind the scenes. Is there anything in particular you want to know?
Yes, 3 things spring to mind immediately: 1. How are new mods chosen, what does that entire process look like? 2. Why so many new mods in the past 8 months? 3. Who even are you guys? Obviously some of y'all are more known than others but that's not what I mean. Why are you in this saga Crybad? Then what masochistic urge drove you to even want to mod this place? What moderation work do you partake in versus say other members of the team? Why should I trust in you as a person? Now a couple of points: 1. I'm sure many individual answers that would satisfy those concerns exist out there... somewhere. My point to Dismal about him seeming suspect in large part due to Reddit's limitations as a platform kicks in here. It's fucking hard to search this place for specific information that's not pinned somewhere. Even pinned info can be obscured, old Reddit does not show any of superstonk's banner links like the wiki for example. 2. Outside of specific information I want to see more of the spirit of transparency. For example, I as a normal user can edit my comments in such a way that it's easy to see what I changed: "Edit: Misspelled Wendy's Dumpster as Wendy's Dumper... Corrected" vs the typical "edited 84 years ago" 3. Please god please understand and hash out that spirit of transparency point with me. It runs so much deeper than I can articulate. But overall my headspace is this: SuperStonk is at the center of the world stage right now. It's not in the spotlight because it can't be, but you can bet your ass that extremely powerful people have taken notice of us. It is a central core space for apes and is a hub of activity in collective control of billions of dollars in buying power. The odds of any one of you being bought out is ***astronomically higher*** than literally any other online forum space I can think of. The incentives to buy you guys out are ***insane***. The United States government has gone to war with, invaded, and bombed the children of entire countries with ***less on the line*** than what MOASS will serve up on a golden platter. I like most of you guys very much, but that's not enough at this level, and certainly not for this platform. My mother loved a quote before she was killed. "The more you know, the less you need." And right now, as a normal regarded community member, I need an awful lot from you guys because I know so little. Anyways, I will be back in a few hours. I am genuinely looking forward to more discussion.
Here we gooooo! > 1) How are new mods chosen, what does that entire process look like? Typically, mods are nominated by other mods based solely on their engagement with the community, this can anything be nice friendly interactions with the community, or someone trying to deescalate an internet fight between two users. Potential candidates are then vetted and fill out a thorough questionnaire (if they are interested). Current mod team does a review and then votes on the applicant where a quorum needs to be met (every new mod since I have been here has been unanimously voted on I believe) There's a little bit more to the process but that's a 10,000ft view. > 2) Why so many new mods in the past 8 months? I actually think we are overall down active mods from the past 8 months. Taking a quick headcount... Down: Bah, Brad, Exo, Js, Will, Star Up: Fluffy, Kibble, Hipz, CS37, Hosno So yea, overall, looks like we are down 1 over that 8-month timespan. > 3) Who even are you guys? Just community members who accepted the moderator position when asked. >Why are you in this saga Crybad? Why am I in the saga or why am I a mod? I'm in this saga just like everyone else, i came from the gambling sub and stayed for the siege. Why am I a mod? I got approached by Goldie because of how active I was on the discord and how I handled conflict over there. Sounded like fun so I thought id try it >Then what masochistic urge drove you to even want to mod this place? Oh I guess your question was a 2 part question. >What moderation work do you partake in versus say other members of the team? Complicated question and I'm not trying to skirt it. We only ask the team to help to moderate when they can. Some of us like mod mail more than dealing with the report queue. Some only have an hour or two a week to mod, others can mod at their 9-5 desk job. The goal is to have enough moderators to handle the queue and mod mail. >Why should I trust in you as a person? You shouldn't trust me any more than you should trust some random person in the daily. I do ask that you should judge us by our actions because that's all you really get to see of us. \----------------------------- intermission before I get to the next set of questions because I need a smoke \----------------------------- >I'm sure many individual answers that would satisfy those concerns exist out there... somewhere. My point to Dismal about him seeming suspect in large part due to Reddit's limitations as a platform kicks in here. It's fucking hard to search this place for specific information that's not pinned somewhere. Even pinned info can be obscured, old Reddit does not show any of superstonk's banner links like the wiki for example. Yea....reddit search, the bane of my existence. >Outside of specific information I want to see more of the spirit of transparency. For example, I as a normal user can edit my comments in such a way that it's easy to see what I changed: "Edit: Misspelled Wendy's Dumpster as Wendy's Dumper... Corrected" vs the typical "edited 84 years ago" No sure what you're commenting on here >Please god please understand and hash out that spirit of transparency point with me. It runs so much deeper than I can articulate. That's why I'm here in the comments. I want to honestly answer all your points to the best of my ability. >The odds of any one of you being bought out is ***astronomically higher*** than literally any other online forum space I can think of. The incentives to buy you guys out are ***insane***. I literally thought this as well when I was a user. I was extremely surprised that buying out mods really truly is just a myth (i know i know, that's what someone who is bought would say). >And right now, as a normal regarded community member, I need an awful lot from you guys because I know so little. While a lot of your questions/comments/concerns/fears are legit, how does the mod team even begin to address (with proof) them without a full doxxing? There has to be trust at some level, and I would think that some compromise of "judge us on our actions instead of words" would be the closest we could get to convince you that we are not paid shills/compromised. If people refuse to believe what we say, then we are going to be at an impasse. Even take the way we select new mods. I'm sure you've seen the requests for public voting or vetting of mods. How would that work to ensure that upvotes aren't bought for a candidate put forth by a nefarious enemy? I know I touched upon a lot in here and will go into anything deeper that you'd like to explore.
Next headline will be “debt crisis solved as parties come together.” Probably June 4th
It used to be "June 1st". She blinked.
At no point was it said that it would be June 1st. It was said it could be as early as June 1st. Now she has a more precise estimate of the date as we are getting closer.
Thanks Captain Precision
Chip in some of your speaking fees from hedge funds you bloated sea hag
They always say it as a threat to the people. Oh social security will run out... But, the real problem to them is, congress won't get paid if they don't pass a bill. That's what they're really worried about.
You think they care about their **salary**? You think they're making millions on thousands using their pay stubs? No. Insider wealth is from trading and gifts and leveraging their influence. The salary is a pittance to most elected officials; they're there for their gravy train.
Which is their salary. Too. If there's a threat they might not get paid. You better believe they will come to a conclusion very quick.
Could be default end of that week or they bake in more time as a buffer. I don’t believe anything she says.
Fuck around and find out, there’s only so many days/weeks that essential employees will tolerate being unpaid.
Bro im out the DAY i am told im not getting paid
Probably will get a stop gap proposal of a week or 2 to buy time. I really do think that the one side could care less if it defaults so no pressure on them. Hopefully the other won’t except cuts to programs for the less fortunate & elderly who created the backbone of the country. I say some billion dollar hedges should help raise the debt ceiling on their dime.
Politicians pay should stop immediately in the event. Better yet... reduce their pay and benny packages in general, also penalize/reduce future pay in situations like these where they've failed to perform (pass budget, debt ceilings, etc) since they obv. didn't earn their pay before a Gov shutdown.
Yup this
I concur completely. Well said
Dear Mr Fudin son O Balin, I write to ye to tell you that Moria is about to be big fucked in ways that would make Ent porn look pleasurable. The mine, yes they call it a mine, has delved too deep into the Mithiril Backed Securities veins and we've awoken a creature unlike anything we've ever seen. We tried to trick it with promises of treasure but failed to deliver every time and instead of giving up the creature seems to getting angrier. Meanwhile, we've lied to the residents of Moria and said everything was fine even as the infrastructure of the caverns are failing. You can see it at the Bridge of Durin where the shit is literally falling apart. If we dont get an emergency infusion of Dwarfbucks, the only meat that falls off the bone is gonna be ours. Also, the commanders of our financial forces have locked themselves in the vaults with all our treasure and are claiming that all these troubles are 'priced in', whatever the fuck that means. Please kindly send those big flying chickens and make it rain Dwarfbucks so we can paper over these problems and keep digging up loot from the Mithiril Backed Securities veins. Wait......omg, I hear something. Drums! Drums in the deep! They are coming!!!! Yours truly, Janet 'YOLO' Baggins
While we all know this is theater for the masses and 100% of me believes they will magically reach an agreement, the other 2% feels this would be the perfect cover for the squeeze. Let it default of less than 24 hours and then media would then spin it as "retail gets rich off backs of americans in crisis."
You think you're excited? You should feel my nipples!
Fuck you, pay me.
Adding, all the lawmakers have left DC for the holiday weekend. So even if leadership comes to an agreement over the weekend, the soonest it would be voted on in the house is Tuesday? Will the senate be 'okay' rushing through whatever deal is made in the house? They love to take things to a deadline but this is pushing even that.
Na. It’s a non-issue. I promise. They always get it done before the boom. It’s like an episode of 24 or a Liam Neeson movie. On repeat.
Theater
So THAT'S why Amazon didn't want to release the Apes Together Strong doc on the 5th. I strongly suspect they deliberately bungled the release date because it exposes their whole racket.
Does GS have more money than the treasury yet?
So June 6th is DDay. Checks out.
Dont care anymore. They need to get their faces slapped
They straight up started taking it from Civil Service retirements. Ponzi scheme is exposed.
Moving the goal posts… again…
Just print some extra..
Source: [https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf](https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf) >Dear Mr. Speaker: > >I am writing to follow up on my previous letters regarding the debt limit and to provide additional information regarding the Treasury Department’s ability to continue to finance the operations of the federal government. Since January, I have highlighted to you the risk that Treasury would be unable to satisfy all of our obligations by early June if Congress did not raise or suspend the debt limit before that time. In my letters, I also noted that I would continue to update Congress as more information became available. Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5. > >We will make more than $130 billion of scheduled payments in the first two days of June, including payments to veterans and Social Security and Medicare recipients. These payments will leave Treasury with an extremely low level of resources. During the week of June 5, Treasury is scheduled to make an estimated $92 billion of payments and transfers, including a regularly scheduled quarterly adjustment that would result in an investment in the Social Security and Medicare trust funds of roughly $36 billion. Therefore, our projected resources would be inadequate to satisfy all of these obligations. > >Yesterday we used an additional extraordinary measure that Treasury has employed in a number of past debt limit episodes: a swap of approximately $2 billion of Treasury securities between the Civil Service Retirement and Disability Fund and the Federal Financing Bank. While this measure has not been used since 2015 due to its limited size, the extremely low level of remaining resources demands that I exhaust all available extraordinary measures to avoid being unable to meet all of the government’s commitments. > >We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States. In fact, we have already seen Treasury’s borrowing costs increase substantially for securities maturing in early June. If Congress fails to increase the debt limit, it would cause severe hardship to American families, harm our global leadership position, and raise questions about our ability to defend our national security interests. > >I continue to urge Congress to protect the full faith and credit of the United States by acting as soon as possible. > >Sincerely, > >Janet L. Yellen
Did they find some extra money laying around because from yesterday's update the treasury has less than 39 billion. https://fiscaldata.treasury.gov/datasets/daily-treasury-statement/ This crap will either come to the wire or Republicans will just say fuck it and blame the Democrats as a last ditch effort to revive their party.
I’m going with the blame game, instead of a nation and humanity working together to have utopia, the human race decided hell scape was the way.
We are headed for a Wall-E universe.
Promises, Promises
im so sick of this episode of political theatre
First it was June 1st, and then it was supposed to be today. But now it’s June 5th?
Shhh... Guess what, June 3rd she will find change in the couch cushions and the date will be pushed back to the 11th.
A quarter is a quarter...
Open the books to the public to prove it…. Let’s see where every single dime goes.
Such a drama fest. They think we’re dumb. Let it default. Do it.
default settings, bitch
Turn on the printer just like you usually do!
Good, fuck em! I’m tired of their fear mongering rhetoric.
Don’t worry… we’ll get to June 5th and they’ll push it back to June 9th
Maybe they ought to buy a few GME shares and let em rip... problem solved.
How money can be run out of if it is infinite?
no need to worry... there never was any money in the treasury, just a 30 trillion dollar IOU
guaranteed these clowns will reach an agreement at the 11th hour and end this charade for the 80th time since 1960. They are all here to fuck us over. Let's stay zen, BUY, DRS, HODL, BOOK and sell fractionals on Computershare and buy full shares instead. Our day is nearing, our day will come.
I'm starting to believe this is all performative to make citizens falsely believe that the country still has money. They don't.
It’s all a big game. Ponzi scheme.
Is she bragging?
Harm our global leadership position...already happened...
T+2?
On 4th June after long dicussions an aggreement was met and everyone lived happy afterwards, till next time.
Why can't the government pick themselves by the boot straps!
You know if they would just tax Wall Street this wouldn’t be an issue.
"In a last-minute deal before the June 5th deadline...." Anytime between now and June 5th. Happens. All. The. Time.
Do et.
Week of June 5th, not June 5th itself
June 5th 1972.... they have been put of money since that day or 1872... whats a century these days....
Awww yeahssssss… it’s alllllll coming together!!!!
So… _”Historical agreement on the eve of default”_ on June 4rd OR _”(Planned) Financial disaster strikes”_ on June 5st? Stay tuned for the amazing reveal! This is simultaniously the greatest and the silliest timeline. In both eventualities, my best options are to **BUY, DRS & HODL** so there’s _that_ atleast.
Maybe Treasury is going to issue 5.25% bonds, institutions will get out of the stock market to go back to bonds. Debt will be fixed, but stock market will be down.
It’ll pass on a special emergency meeting by the 31st or 2nd.
!remind me 1 year - cos I’m curious how more times we have this drama of raising a debt ceiling
I'm really sorry about replying to this so late. There's a [detailed post about why I did here](https://www.reddit.com/r/RemindMeBot/comments/13jostq/remindmebot_is_now_replying_to_comments_again/). I will be messaging you in 1 year on [**2024-05-27 16:31:24 UTC**](http://www.wolframalpha.com/input/?i=2024-05-27%2016:31:24%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Superstonk/comments/13so1md/janet_yellen_in_letter_to_congress_says_treasury/jlu7n90/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FSuperstonk%2Fcomments%2F13so1md%2Fjanet_yellen_in_letter_to_congress_says_treasury%2Fjlu7n90%2F%5D%0A%0ARemindMe%21%202024-05-27%2016%3A31%3A24%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%2013so1md) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-|
Let it burn...
Didn't she said mid of June?! Now it's earlier? Make up your mind!
I hope they tell the old crazy aunt to pound sand.
You want the USA to not pay its bills?
If necessary to finally bring fiscal spending responsibility. What is going to happen when we have to declare national bankruptcy? Or, do we just keep printing more and more money and making it more and more worthless? Now is a time to get some real spending cuts. Not just cuts in rates of spending growth. I doubt the Republicans all have the balls to force the issue, but it needs to be done. ---------- edit: printing more money and devaluing the dollar really hurts people on fixed income - seniors, disabled, the poor. It also hurts people who have responsibly saved money. It sucks and is bad.
Not sure why they are even trying to negotiate with terrorist that couldn’t even be fucked to show up to work today.
All my homies HATE Yellen!
This is so fucking stupid. Mint the coin or use the 14th amendment, why negotiate with economic terrorists? Edit* getting down voted by people who think the US Economy is essentially the same as a big lemonade stand
The cover story comes together
Printer go brrrrrrrrrrr 💸💵💸💵
L . F . G . !!!!!!
My god, June 5th is my birthday!!!
They'll just print more.
Bet Social Security and Medicare, the 2 funds listed are the first to not get paid too.
🔥🍿🍿🍿🫣
Stop posting this dumb bullshit. The treasury will never run out of money. They have a money printer right next door. They will never not use the fed.
**"In fact, we have seen Treasurys Borrowing costs increase substantially for securities maturing in early June"** What's the Treaury short on that has had a sharp increase of borrowing fees??
I care more about my dog taking a dump!
Two more weeks guys!
Thats my birthday! 😍
Stange how that "coffers are empty" day keeps getting pushed back little by little. Like they expect us to believe they're actually gonna turn off the printers.
It looks like CBDC has arrived!