MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
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Look past the smoke from the Trump White House funeral pyre, and you’ll see financial Armageddon
By artappraiser on Thu, 07/13/2017 - 10:20pm |Op-ed by Jonathan Capehart @ WashingtonPost.com, July 13
[....]Yep, I’m resuming my role as town crier about the debt ceiling because all this mind-boggling stuff we’re talking about now (Donald Trump Jr.’s emails?!) will pale in comparison to the financial Armageddon that awaits us if our fiscal car pulls a “Thelma and Louise.”
You might remember that at a congressional hearing on May 24, when asked when the debt ceiling would have to be raised to avoid default, White House budget director Mick Mulvaney went all ¯\_(ツ)_/¯ and said that it was his understanding that “the receipts, currently, are coming in a little bit slower than expected.” Tax receipts, that is, which means the treasury, already employing “extraordinary measures” to keep below the legal limit on federal borrowing, has less cash on hand to tread water until Congress gets around to raising that limit.
That’s significant because of three things that happened on June 30 [....]
URL:
https://www.washingtonpost.com/blogs/post-partisan/wp/2017/07/13/look-past-the-smoke-from-the-trump-white-house-funeral-pyre-and-youll-see-financial-armageddon/?utm_term=.57ac29606429
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