With what money? Seize American depositors bank accounts? Because you damn well know that will happen.
Even the suggestion is enough to make people cash out their accounts, and then a total collapse of the financial system as we know it occurs.
Either way…not good, very bad.
It's allowing for debt, or raising the debt ceiling, specifically, not 'seizing American depositors' bank accounts' to pay it off, as if that made any sense or had any relation to the matter whatsoever.
Tax money sufficient to pay all our bills and keep the government functioning until the GOP comes to its senses, will obviate the need for any seizure of other money. There's no need to panic.
The only people who might panic are the ones holding the economy hostage, so they can cut Social Security, Medicare, Veterans' Care and other vital programs for regular people to avoid raising taxes for the rich.
That's where much of the money comes from. Programs for the most vulnerable.
Social Security is actually in the black, or should be, but the GOP has been raiding its coffers to plug spending gaps - illegal, btw.
MAGA opposes traditional conservative values. Otherwise, they would not threaten to destroy the economy, in an attempt to make the "other guy," look bad. Their Macho Political Theatre plays to an extremist base of middle income voters who would bear the brunt of a collapse.
Jay Powell, Chairman of the Federal Reserve, noted yesterday the historically low unemployment in America caused by Biden's policies, seems immune to all he has done to control inflation. My High School Economics class education would make me conclude that high employment is not the culprit in this inflation cycle. That would reinforce the conclusion that this inflation was caused by Russian/OPEC actions on oil prices.
He was originally nominated for his membership on the Fed by Obama. He became Chairman under Trump and was nominated for a second term by Biden. He admitted that lax supervision and lax rule enforcement by Fed regulators caused the circumstances that led to the collapse of Silicon Valley Bank. No one in Washington had made that connection, and you don't get points for honesty these days. So, you may be right.
Yellen worked hard to soften the impact of the Bush-Great Recession. And she's postponed the negative impact of letting the Debt Ceiling authorization lapse. I can understand that you don't like her politics. But her record shows her to be quite clever with numbers.
THE 14TH AMENDMENT TO THE CONSTITUTION, SECTION 4 SAYS "THE VALIDITY OF THE PUBLIC DEBT OF THE UNITED STATES, AUTHORIZED BY LAW SHALL NOT BE QUESTIONED." SECTION 5 SAYS "THE CONGRESS SHALL HAVE THE POWER TO ENFORCE, BY APPROPRIATE LEGISLATION, THE PROVISIONS OF THIS ARTICLE."; THE NATIONAL EMERGENCY ACT GIVES THE PRESIDENT THE POWER TO ACT WITHOUT CONGRESS' APPROVAL FOR CRISES LIKE "THE 1933 BANKING CRISIS" OR "THE 1971 INFLATION EMERGENCY."; THE FISCAL CHAOS OF AN IMMEDIATELY PENDING DEFAULT ON THE NATIONAL DEBT WOULD PERMIT PRESIDENT BIDEN TO DECLARE A NATIONAL EMERGENCY AND PAY OUR BILLS.
Caption this Meme