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Americans filed their taxes for the year 2022 just two weeks ago . . . and HALF the money they paid, is already spent! According to data released by the US Treasury, the US Government is down to its last $188 Billion! June 1, it all stops . . .
Treasury Secretary Janet Yellen penned a letter to Congress last week telling them that unless the US Debt Ceiling is raised, the U.S. Government “will not be able to meet its commitments BY June 1.”
That’s not Hal Turner or some talking head saying that . . . It’s the Treasury Secretary of the United States saying it.
A simple analysis of Yellen’s words makes clear it’s not just Debt servicing or interest payments they won’t be able to make, it’s all their “commitments” they won’t be able to meet. What ARE those commitments? Welfare, SOCIAL SECURITY, Medicare, Food Stamps, Obama phones, Section 8 Housing, and the like!
Worse, after June 1, the government will be in DEFAULT on more and more of its obligations, thereby smashing and wrecking the “full faith and credit” of the United States.
Who around the world will bother buying US Treasury Debt after we default? No sane person!!!!
If this takes place, the cities will likely fall apart first. It will be chaos as those with their hands out for money, don’t get any. There will likely be food thefts, riots, roving gangs taking what they want by force.
As the cities are emptied of food, the roving gangs will move outward into the suburbs.
This could turn into a “Mad Max” scenario, in very little time.
Below is the chart released by the US Treasury showing they have only $188 Billion left, and that they have already spent HALF of the Tax Revenue Paid By Americans just two weeks ago:
Well this is a problem: Treasury cash down $20BN today, down $100BN in 2 days, to just $215BN Half of tax receipts gone in 2 days https://t.co/ircb88mKoy pic.twitter.com/P3vXA4gjaF— zerohedge (@zerohedge) May 3, 2023
Comments
+2 #Insanity — unixguru242023-05-05 18:01
Anyone who has been buying these junk bonds for the last 20 years is nuts. Full faith and credit is a joke. Sure you’ll get your dollars back. Big whoop. The world is finally discarding the useless currency; and with it goes america’s ‘power’
+3 #Dow Jones Shill game — chip2023-05-05 15:57
Dow up over 500 points,, desperate at
all costs to keep it above 33,000. What
a bunch of thieves and scoundrels
running it.
+1 #“Fact Is” — t.n.kuss@hotmail.com2023-05-05 14:27
Current U.S. Government
“HAD TO USE THOSE TAX MONIES TO STAY AFLOAT UNTIL JULY 2023.”
Prediction:
“WE’RE SCREWED!”
-1 #RE: Half of U.S. Tax Payments from Income Tax Filing Day – SPENT! Treasury Down to $188 Billion — clove2023-05-05 10:01
We pay so much in taxes. Frustrating to see them waste it. And use it for Ukraine so it can be returned in bribes to House and Senate member’s. Sick and twisted. We have worked so hard to have them waiste our money.
-1 #Leading to this — cowgirl2023-05-05 09:47
+2 #dc layoffs — rugerwild2023-05-05 09:23
get rid of are 800 military bases overseas sell the land we will have a surplus of cash
lay off all the worthless dc workers still working from home because off covid social security saved with that cash
+1 #BRICS members are already dumping shiploads of US treasuries. — MissinD60s2023-05-05 08:57
The USD is already dead. Killed by enemies from within. These last few acts in the play are irrelevant. As most here know, we’re witnessing the death throes of an empire.
On the bright side, this means Jesus is that much closer to returning. Also, without their usury n other thefts, the demons won’t be able to continue paying their thousands of minions. Their system will soon begin breaking down. We may finally get to see some of our worst enemies die for their crimes against God n His children. Hopefully, the Internet will still be up for us to watch that, before Babylon is destroyed in one hour.
-2 #Sound Doctrine — Kali K2023-05-05 09:59
Why do so many Christians believe Jesus is going to swoop in and save us from the Great Tribulation when He said Himself that we’d have to endure it? Do they believe man over Christ?
-1 #Well.. — u1295202023-05-05 17:11
We will endure tribulations but we are not appointed to Wrath. eg. Noah & Lot.
If you’re ‘post trib’ then are you going to make a U turn in the sky when Jesus returns with His Saints?
Just thoughts that are superfluous to our salvation. See you later!
-1 #“Why do so many Christians believe Jesus is going to swoop in and save us from the Great Tribulation…” — MissinD60s2023-05-05 14:46
Wjo said that? Not me. The Bible says only the completely pure will be raptured. I know that doesn’t include me. I’ll have to face the Tribulation w/almost everyone else.
+4 #Why I stop paying taxes years ago — Chappyusa12023-05-05 08:12
Those morons couldn’t run a lemonade stand.
Remember the people are worthy of the government they get. Look at what we got. What’s that tell you about us?
No wonder the world laughs at us.
#Funny Thing Is.. — Kali K2023-05-05 10:19
Government follows society not the other way around. So, you are correct in that we get what we deserve. The more corrupt a society gets, the government follows in being more corrupt. In other words, the government is a reflection of it’s society.
+4 #RE: Half of U.S. Tax Payments from Income Tax Filing Day – SPENT! Treasury Down to $188 Billion — TheBudda19682023-05-05 07:50
Good time to start a war eh!
+8 #The difference this time — SBGlett772023-05-05 06:54
.
True, they have done this brinksmanship before, but there is a difference in the air this time. As the synthetic seigniorage of the U.S. Dollar has come into particular question in the last year or so, the bond market has begun to stubbornly invert, and the entire curve has been shifting up and down while inverted. It is finally appearing to the smart portion of bond investors that the Fed’s messing with all the discipline of interest rates in several different ways has almost entirely negated value investing in Treasury bonds.
It appears to me that all this unusual drama surrounding the debt limit is the Treasury, Fed, and Congress trying to distract itself from a grim realization: the intrinsic value of U.S. Treasuries is disappearing. They are tacitly worried that if the U.S. Treasury and the Federal Reserve give a party, nobody will come this time. It will NOT even take a “default” ruse for this phenomenon to kick in, in my opinion. It is occurring now, and it has the Treasury panicked that it may be exposed for all the world to see.
Actually, the intrinsic value of UST has been gone for quite awhile, as the debt level is obviously unrepayable, but now the rest of the world seems ready to admit ( and act on ) the fact that the emperor has no clothes. So now, this latest Theater about “default” is just a bunch of sturm und drang to try to extend the pretense that our government financial system, our banks, and our debtors are still sound.
We will soon find out if the financial tipping point has been crossed, or if it will still hang on awhile in crippled form. It will be both interesting and dangerous to see what measures the cornered beast will take once the scales fall off the public’s eyes. I’m talking world public, not blinkered U.S.
+7 #Half of U.S. Tax Payments from Income Tax Filing Day – SPENT! Treasury Down to $188 Billion — raeeldri12023-05-05 06:24
NEWS FLASH***It was all gone before it was collected. The Feds are fooling us all!
+16 #Let’s get it over with — LegionPrime672023-05-05 04:47
I don’t want a tribulation time or mad max, but it’s coming regardless.
I do ask God to nudge me when it’s time to leave work or contact family to high tail it home.
Maranatha!
Rose Rambles... 