Breaking – Yellen Issues New Deadline for Debt Ceiling Hike
-by Sheila G
September 28, 2021
This morning Janet Yellen notified Congress with a new date the ceiling hike must be completed by to prevent our country from going into default:
”I am also writing to notify you, pursuant to 5 U.S.C. §§ 8348(1)(2), of my determination that, by reason of the statutory debt limit, I will continue to be unable to fully invest the portion of the
Civil Service Retirement and Disability Fund (CSRDF) not immediately required to pay beneficiaries, and that a “debt issuance suspension period,” previously determined to end on September 30, 2021, will continue through October 18, 2021. As a result, the Treasury Department will continue to suspend additional investments o f amounts credited to, and will redeem an additional portion of the investment held by, the CSRDF, as authorized by law.”
It now seems that Senator Schumer’s meltdown yesterday was all for naught.
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