Neither a Debtor nor a Pauper Be.
By Gene W. Edwards.
Posted, 5/23/2023.
When the debt ceiling is extended — I’m predicting June 9 — it’ll be because the House will go through multiple votes to get it done, like it went through 15 votes before it elected Kevin McCarthy. It’ll be one long session till it’s done. The terms must be agreeable with the Senate and with reality. At some point, the sane Republicans in the House of Rep. will read the riot act to their 25 in the Freedom Caucus there who want to turn this debt debacle into a circus.
Biden, after this is over, should invoke the 14th amendment which will put no future caps on the national debt — if the Supreme Court buys Biden’s move.
Taking America down to the wire of default means the whole world is watching us falter or fail — not that default won’t come to an end — but who in his right mind actually trusts our currency now?
I say we do default for a few days — three or more — but we don’t tell the world we defaulted. Rather, our treasury secretary, Janet Yellen, will say little but can write no more checks, send out any more cash, or sell any more treasury bills (U.S. bonds) in the marketplaces of money until the House and Senate act.
Thus, the House’s rebels are putting the squeeze on all of America. After all’s said and done, Biden’s invoking the 14th amendment is the only thing that could convince the world America won’t be faced with an even worse money crisis the next time, and the time after that, ad infinitum?
The Republicans are trying to indict Biden for overspending, so he can’t be reelected, but their efforts are backfiring. Instead, now every good congressional Republican has egg on his face and every bad one will have to win his next election. will have to face challengers from his own party, or from the other one, who’s symbol is a kicking mule.
My advice the the Freedom Caucus: don’t let the Democrat kicking mule kick you in the ass as you leave the “house,” the door slammed shut behind you!
“Love,”
Gene W. Edwards.
Gene is one of the world’s best intuitive psychic predictors, using insight, about the past, present, and future as well as one of the world’s most interesting, relevant, and best writers.
On Medium: genewedwards.medium.com
On Twitter: Gene W. Edwards@GeneWEdwards1
On Facebook: Gene W. Edwards.