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A comment on Yellen warns of U.S. default risk by early June, urges debt limit hike. Parent comment

Re:Yellen warns of U.S. default risk by early June, urges de... by generj on Friday January 13, 2023 @04:01PM (#34373827)
There’s a decent argument the President is constitutionally obligated to ignore the debt limit.

If Congress doesn’t want the money borrowed, they shouldn’t authorize spending more money then was collected.

[ Parent | on HN ]
Re:Yellen warns of U.S. default risk by early June, urges de... by thoughtstheseus on Friday January 13, 2023 @06:01PM (#34375120)
This is technically possible. The treasury authorize a payment, even though it doesn’t have the money in it’s general account, then it’s up to the federal reserve to decide if it wants to approve the payment.
[ Parent | on HN ]