Huge! Debt Ceiling Will Be Hit One Day After Trump Takes Office!

James Kaufman, World News Report today, January 18th, 2025. God bless you and yours, no matter where you are in the world. Please subscribe, give us a thumbs up, ring that bell for critical future updates. Yellen warns U.S. will hit debt ceiling one day after Trump inauguration. This is the looming problem with our government and country I've been warning you about. The government has reached its debt ceiling, and the ceiling must be raised immediately by Congress so Trump can start printing money as fast as possible to attempt to kick this very heavy can down the road. If the ceiling is not raised immediately, not only will the government shut down, but the economy will fall into shambles. The debt ceiling must be raised immediately so Trump can turn the money printing machines on full speed. I warned y'all that printing money was Trump's only way out of his catastrophe and that does not fix anything. All that does is push the can or kick the can down the road. Back in the last week of December, when the stock market was desperately trying to reverse the slump of the Santa rally, which prevented stocks from closing 2024 at an all-time high, we warned that a bigger threat than a modest 1% market drawdown was looming, the countdown to the next debt ceiling crisis. We quoted Democratic operative And the only U.S. official who has personally overseen total debt increase by a staggering $15 trillion under her watch at both the Fed and the Treasury, Janet Yellen. While Yellen was at the Fed and Vice Chair and Chair, our debt went up $6.8 trillion. dollars over the last Three or four years, she's been Treasury Secretary. The debts went up another $8.41 trillion, which means over $15 trillion. And, well, we're over the $36 trillion debt ceiling that we did create. Crazy, folks. Janet Yellen had warned the United States would hit its statutory debt ceiling around the middle of January, at which point the Treasury would resort to extraordinary measures to prevent the government from defaulting on its obligations. Ladies and gentlemen, with interest the way it is, we can barely pay the interest on the bonds that we've sold to other countries. Luckily, we've had to buy most of the bonds ourselves, whatever that means. While it may not feel like it, we're now in the middle of January, and late on Friday, Janet Yellen, in what is almost certainly the last ever official announcement of her long and undistinguished political career, said that the U.S. would hit its debt ceiling the day after President Trump is inaugurated, and that the Treasury We'll launch extraordinary measures to stave off the threat of a national default. After a previous 20-month suspension of the debt limit expired earlier this month, Yellen wrote a letter to bipartisan congressional leaders Friday. She was advising them of the extraordinary measures that the Treasury will begin using on Jan. 21. The day after the Biden administration leaves office, I respectfully urge Congress to act promptly to protect the full faith and credit of the United States and basically raise the debt ceiling. She's begging Congress to raise the debt ceiling, which is going to have to be done if the Trump administration wants to give you the illusion that the economy is being fixed. When in fact, they're really just going to turn on the printing presses full speed ahead. The letter on Friday marked second notification. The latest tussle over the debt limit, which kicked back in as of January 2nd after the 20-month suspension that both parties agreed on, is the last letter ever for Yellen before the Trump administration takes office January 20th. Congress has suspended the ceiling in 2023 after a close-fought battle by lawmakers to avert a default on federal obligations, but that was when the Democrats were trying to save the economy under their rule, or give you the illusion of a good economy under their rule, and we don't know what is going to happen this time around, or if it's going to get done at all. If the Democrats can stop Congress from being able to raise the debt ceiling, well, first off, I guess the government will have to close. But secondly, the economy will fall into shambles almost immediately. And that could be the very plan in place. The limit is currently set at $36 trillion, and we have reached that limit or just above it. Wow, folks, what a predicament. Coming back in and having the debt ceiling hit the very next day for Trump. Please share, subscribe, and always remember, anything's possible, bizarro world.