Treasury Secretary Janet Yellen sent a new letter to House Speaker Kevin McCarthy (R-CA) and other congressional leaders on Friday refining the estimate for the X-date to June 5.
“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,” Yellen wrote in the 2-page letter.
Yellen also emphasized that the Treasury 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.”
Recent reports suggested that if the federal government couldn’t make payments scheduled for June 1 and June 2, then Americans who rely most on government help to get by — the oldest and the poorest Social Security recipients — would have suffered.
Read the letter here:
Ugh. More time for R fuckery.
That is just 4 more days. It means that payment cycle 1 Social Security payments get made.
This is just going to embolden these idiots, isn’t it?
These idiots are emboldened just by breathing. It is just 4 more days. If there is a deal in the works, it presumably allows that to happen, assuming that it can really happen.
Reposting here with a note that it is framed as R’s struggling and some are perhaps in panic mode.