According to most economic experts the United States economy is on the brink of catastrophe.
The value of the dollar is crashing, banks are collapsing, and job losses are on the horizon.
But Joe Biden just made another shockingly irresponsible economic move that will drive you insane.
Joe Biden and his regime are hellbent on destroying the American economy
As it stands, the American economy is on the brink of absolute ruin under President Joe Biden.
And as a direct result of Biden and his Democrat allies’ tax-and-spend agenda, inflation is sky-high, and banks are showing signs of trouble.
Despite these obvious warning flags, President Biden and his Democrat cronies are determined to drive the U.S. off a cliff by demanding that the debt ceiling be increased yet again.
According to Treasury Secretary Janet Yellen, if the debt ceiling is not increased by June 1, the Treasury will have no choice but to default on America’s debt, which will have a catastrophic impact on the U.S. dollar, and the global economy.
More specifically, in a letter to Congress, Yellen claimed that “after reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time.”
“This estimate is based on currently available data, as federal receipts and outlays are inherently variable, and the actual date that Treasury exhausts extraordinary measures could be a number of weeks later than these estimates,” she added.
Another option is for President Biden and his regime to cut certain expenditures, which they have made clear is off the table.
To make matters worse, Biden has made it clear that he will not budge even an inch on his demands, to the point in which he’s refused to even engage in debt ceiling negotiations with Republicans to solve the issue – it’s either Democrats’ way or no way.
In response to this tense showdown, Senator Joe Manchin (D-WV) said, “I hope President Biden’s invitation to Congressional leaders is sincere and he is genuinely willing to negotiate because the country cannot afford a failed negotiation.”
“I urge President Biden to show true leadership and finally put politics aside and the well-being of our nation first,” he added.
Biden is about to bring economic devastation to millions of Americans
Years of reckless, out-of-control spending are about to devastate millions of working class Americans, who are already on unstable economic ground, whether they truly realize it or not.
Instead of strengthening the United States economy, President Biden has done everything in his power to weaken the dollar, causing prices and – even worse – inflation to rise.
Whether it is the endless billions sent to Ukraine, or the wasteful social justice programs the White House is pouring billions of taxpayer dollars into, working class Americans are being forced to fund a number of projects that have no benefit to them – or anyone really, for that matter.
It appears as if these programs will instead bankrupt the United States, which could devastate the global economy and inflict civilization-altering consequences on humanity as soon as June 1.
US Political Daily will keep you updated on any developments to this ongoing story.