Biden Administration Warns States Federal
Debt Crisis Could Trigger Recession
Epoch Times,
by
Jack Phillips
Original Article
Posted By: earlybird,
9/19/2021 4:09:32 PM
The Biden administration has issued a warning that the pending federal debt crisis could trigger an economic recession that would impact economic growth and trigger job losses across the United States.
“Hitting the debt ceiling could cause a recession. Economic growth would falter, unemployment would rise, and the labor market could lose millions of jobs,” the White House said in a letter (pdf) to state and local governments(snip)
Arguing that Congress needs to raise or suspend the U.S. debt ceiling, the administration said the debt crisis could impact the country’s recovery after the CCP (Chinese Communist Party) virus pandemic. In July, Congress missed its deadline to suspend or raise the debt limit,
Reply 1 - Posted by:
Rama41 9/19/2021 4:20:20 PM (No. 919938)
In other words, "If you object to our destroying the Republic with another $3.5 trillion in spending, we and our friends in the press will blame you."
14 people like this.
Reply 2 - Posted by:
The Remnants 9/19/2021 4:21:06 PM (No. 919939)
And what will raising the debt ceiling on our poor pathetic nation trigger?
9 people like this.
Reply 3 - Posted by:
red1066 9/19/2021 4:32:15 PM (No. 919944)
Tough choice. It's Biteme created inflation, or a Biteme created recession.
14 people like this.
Reply 4 - Posted by:
reefdiver 9/19/2021 4:38:44 PM (No. 919949)
Drinking a quart of vodka every day could trigger alcoholism. So what is the point? Answer is to stop spending money we don't have. You want more economic health, put people to work and lower taxes.
16 people like this.
Perhaps, just perhaps, something they did caused the alleged reaction? Msybe they used disparaging language towards the hostess?
3 people like this.
Reply 6 - Posted by:
justavoter 9/19/2021 4:58:06 PM (No. 919965)
Shut it down. These are empty threats. It is high time the government quit spending money. They can start with shutting down the Sept of Education, HHS, EPA, send tSA back to private service and on and on
12 people like this.
Reply 7 - Posted by:
paral04 9/19/2021 4:59:17 PM (No. 919966)
Really? So you are going to fix it by spending 3 Trillion on pork projects. Thanks a bunch. Isn't the Covid ordeal and the border catastrophe enough for you, Joe?
13 people like this.
Reply 8 - Posted by:
smokincol 9/19/2021 4:59:24 PM (No. 919967)
"Biden Administration Warns States Federal Debt Crisis Could Trigger Recession" - exactly!, so now is the perfect time to add 3.5 TRILLION dollars to this debt - demcommies are the scourge of our nation and must be stopped.
MAGA,A&A&A&A&A&A
8 people like this.
Reply 9 - Posted by:
downnout 9/19/2021 5:20:07 PM (No. 919990)
Maybe out of control spending and money printing will bring on a recession. Chicken Little is alive and living at 1600.
6 people like this.
Reply 10 - Posted by:
DVC 9/19/2021 5:23:33 PM (No. 919994)
Much better a recession now than a massive Venezuela depression in a year or two.
4 people like this.
"could trigger a recession," huh. Well, then STOP SPENDING MONEY. Money you don't have.
9 people like this.
Reply 12 - Posted by:
pmcclure 9/19/2021 5:48:44 PM (No. 920016)
This fool has boxed our economy into a corner where the only exits are hyperinflation caused by spending imaginary dollars, or recession caused by the cumulative damage from throttling the economy by Covid hyper-rmanagement. He is the epitome of an evil dunce.
6 people like this.
Reply 13 - Posted by:
AmericaYes 9/19/2021 6:04:30 PM (No. 920028)
Biden team gets up every day and say "Who can we blame?"
5 people like this.
Reply 14 - Posted by:
MindMadeUp 9/19/2021 6:12:24 PM (No. 920036)
And my face hitting the bully's innocent fist is to blame for his swollen knuckles and my broken nose.
1 person likes this.
Reply 15 - Posted by:
mc squared 9/19/2021 6:16:33 PM (No. 920039)
Preparing to blame Governors when the SHTF. Does Biden know that states can't print their own money like Biden can?
3 people like this.
Reply 16 - Posted by:
Avanti1 9/19/2021 6:25:53 PM (No. 920047)
Democrats control the House and Senate thus they have the votes to pass an increase in the debt ceiling all by themselves and Biden has the authority to sign it. If they do so they will be entirely accountable for the consequences.
Are Biden and Congressional Democrats willing to forsake their prolifigate spending to avoid the dire consequences claimed in the Biden administration's warning to state and local governments about drastic cuts to Medicaid, food stamps, disaster relief and other federal programs? They must establish their priorities and make a choice.
Is Biden afraid that the constituents of Democrats in Congress will vote them out of office if they push through a bill increasing the debt limit? Does Biden not trust Congressional Democrats to do his bidding?
3 people like this.
Reply 17 - Posted by:
RuckusTom 9/19/2021 6:52:18 PM (No. 920076)
How 'bout we lay off some employees of a few federal agencies? Start with the ones who've been sitting around watching porn all day long on the taxpayer dime.
5 people like this.
Reply 18 - Posted by:
doctorfixit 9/19/2021 7:51:03 PM (No. 920115)
By golly, that should make Mitch McConnell soak his Depends in terror.
3 people like this.
Reply 19 - Posted by:
Muguy 9/19/2021 8:45:53 PM (No. 920151)
We were told this BS back in 2008 about causting a new Great Depression if we didn't spend more $$$$
No nation in the history of the EARTH has ever become prosperous going into further debt.
All it does is ruin the worth of a dollar, and create economic collape by breaking the institutions and infrastructure to the point of a government take over by a FEW individuals a la the Russian Revolution.
The fact of the matter is that only a VERy SMALL group of people took over the ENTIRE COUNTRY by taking the seat of power--
This is just one more bag of goodies for liberal causes and state at the expense of the people--
As Mark Levin describes it... American Marxism.
3 people like this.
Reply 20 - Posted by:
thudlike 9/19/2021 9:27:00 PM (No. 920177)
NO, NO, NO!!
No to raising the debt ceiling.
1 person likes this.
Reply 21 - Posted by:
hershey 9/19/2021 9:28:31 PM (No. 920181)
Well then doofus, tell your colleagues in Congress to stop spending so damn much money that we don't have...simple solution...
1 person likes this.
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