A former White House Budget Director has warned that the U.S. Treasury could run out of money by June 2017, sparking riots and civil unrest across America. According to an interview with David Stockman, a controversial deal made between former Speaker of the House John Boehner and former President Barack Obama in 2015, will result in the “mother of all debt ceiling crises,” by the summer of 2017 which will see a giant “fiscal bloodbath” for Americans. “I think what people are missing is this date, March 15th 2017. That’s the day that this debt ceiling holiday that Obama and Boehner put together right before the last election in October of 2015. That holiday expires. The debt ceiling will freeze in at $20 trillion. It will then be law. It will be a hard stop. The Treasury will have roughly $200 billion in cash. We are burning cash at a $75 billion a month rate. By summer, they will be out of cash. Then we will be in the mother of all debt ceiling crises. Everything will grind to a halt. I think we will have a government shutdown. There will not be Obama Care repeal and replace. There will be [...]
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