We are at a debt limit impasse and must decide which direction to take. Both sides have some good points and we do need to get a handle on debt so the right resources go to the right places to increase our national functionality. I do believe both sides should start working diligently to decide which programs are necessary, how to adjust programs for focus and effectiveness (We need 3-5 shared Republican and Democrat principles to create focus to coordinated decision making across different entities. I do not believe we have 4 or 5 focused objectives principles everyone agrees upon in broad terms. It is necessary to ensure micro transactions of decision making become aligned. When people are unsure they check these broad principles to help them make a decision.).
A word of caution., I would not shock the system with a debt default. Creating pressure is ok but we will likely need to extend these negotiations. One might consider month by month until we have a workable budget. Each small extension could cause the market to react in a negative way to the potential risks so I wouldn't use a "game of chicken" tactics very often. If it was me, I might move to a 6 month extension under the agreement of a focused task force to hammer out reforms and changes. Just my thoughts.
Letter by Secretary of Treasury Janet Yellen: You can read the actual letter 'Secretary of the Treasury Janet L. Yellen Sends Letter to Congressional Leadership on the Debt Limit'
Yellen Twitter:As every Treasury secretary has known, the only option that leaves our economy in good shape is raising the debt ceiling.
Explanation: You can read this. ‘Economic And Financial Catastrophe’—Yellen Issues Stark $31.4 Trillion Warning After Bitcoin, Ethereum And Crypto Price Boom'
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