The
Umama White House has informed the Honorable John A. Boehner, Speaker, U.S.
House of Representatives, that Treasury’s ability to pay for
Government spending ends in mid-October.
Department ledgers had already reached the nation’s statutory
debt limit back in May, the Secretary announcing then that his functionaries would
be taking “extraordinary measures” to come up with the dough needed to keep
Washington afloat temporarily, and now those financial shenanigans will be
exhausted in a month and a half, at which time Federal bureaucrats will either
stop writing checks or start bouncing them.
Apparently they plan to pay expenses out of cash on hand, usually meaning first come, first served. If your check gets to the teller's window before the money runs out, you get paid. After that, well, think bank run, we suppose. Photos from the 1930's show padlocked front doors and a whole lot of people standing around in the cold.
Apparently they plan to pay expenses out of cash on hand, usually meaning first come, first served. If your check gets to the teller's window before the money runs out, you get paid. After that, well, think bank run, we suppose. Photos from the 1930's show padlocked front doors and a whole lot of people standing around in the cold.
The
deadline sets up another Umama v Boehner standoff, and media coverage
immediately jumped all over a rumored GOP attempt to defund Umamacare with the confrontation process. Others were quick to point out that
this strategy would seem to suggest that the timeliness of your October Social
Security electronic bank deposit is now in play as well, possibly signaling the
end of the Republican Party as we know it. Okay, as Seniors know it anyway.
Be
forewarned, valued subscribers. Whatever happens, the children are playing with the D-word again. DEFAULT. We may be in for yet another debt ceiling punch in the gut.
