Yes, you read the story right.
There is an imminent global financial meltdown coming, and it’s coming soon. The debt limit returns on March 16, 2017.
Yes, that pesky debt limit that the last Congress decided to push back on and let the next president face returns, and the government will be just about to the limit of $20 trillion in debt at the time the limit is reinstated by law.
Steven Mnuchin has been quoted as saying, 'I'd like us to raise the debt ceiling sooner rather than later' and that’s all well and good except for two things, the Republican led Congress and Donald Trump. This Republican led Congress is largely comprised by the same group of assholes who nearly let the US government default on its debts numerous times in the past.
Then you have Donald Trump who never once in his business life met a debt he wasn’t willing to default on.
Add the two together and you have a mixture that is set to blow.
If the Treasury Department uses the same extraordinary techniques perfected by the Obama Administration, the crisis can be put off until some time in early to mid summer.
But tell me truthfully, will the Congress act, and if they do act, will Trump even give a damn?
Markets do not like uncertainty.
There has never been a time in US history when its been more uncertain what our whackadoo president may or may not do, and I can certainly see him vetoing a debt limit increase, especially if somebody taunts him about it in a tweet.