Yellen is Lying About Defaulting on June 1
Yellen is Lying about Defaulting on June 1
Heresy Financial: 5-26-2023
What if I were to tell you that no matter what, the United States will not be defaulting on its debt come June 1st?
What if I were to tell you that this meant Janet Yellen has been lying about Congress needing to raise the debt ceiling, or else we would default?
What if I were to tell you that no matter what, the United States will continue making payments on its debt regardless of whether the debt ceiling is raised or not?
And most importantly, what if and what if, most importantly, this outcome not raising the debt ceiling and continuing to make the debt payments is the best possible outcome for our nation.
Considering all the recent news about America defaulting on its debt and how everybody is focusing on the talks about raising the debt ceiling, you may be surprised to hear that none of that is true.
It is all just smoke and mirrors. And I am going to show you why.
Timecodes
0:00 Introduction
2:47 Misconceptions and Financial Reality
3:46 The Debt Ceiling and Borrowing
8:10 Spending Adjustments and Debt Reduction
10:22 Presidential Responsibility and Debt Payments
11:16 Economic Implications and Citizen Impact