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
