{"id":1938012,"date":"2023-05-25T13:51:22","date_gmt":"2023-05-25T17:51:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/key-gop-panel-member-asks-yellen-to-show-how-she-calculated-debt-limit-x-date\/"},"modified":"2023-05-25T13:54:48","modified_gmt":"2023-05-25T17:54:48","slug":"key-gop-panel-member-asks-yellen-to-show-how-she-calculated-debt-limit-x-date","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/key-gop-panel-member-asks-yellen-to-show-how-she-calculated-debt-limit-x-date\/","title":{"rendered":"GOP member wants Yellen to explain debt limit calculation."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fkey-gop-panel-member-asks-yellen-to-show-how-she-calculated-debt-limit-x-date%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1938012&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Rep. John Rose Asks Treasury Secretary Janet Yellen for Transparency on Debt Ceiling Deadline<\/h2>\n<blockquote>\n<p><b>EXCLUSIVE \u2014<\/b> Rep. John Rose (R-TN), a House Financial Services Committee member, is asking Treasury Secretary <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/janet-yellen\" target=\"_blank\" rel=\"noopener\">Janet Yellen<\/a> to provide information about the methods and data the <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/treasury-department\" target=\"_blank\" rel=\"noopener\">Treasury Department<\/a> used to come to the <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/yellen-confirms-early-june-deadline-mccarthy-leaders-debt-talks\" target=\"_blank\" rel=\"noopener\">June 1<\/a> <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-misses-debt-ceiling-deadline-treasury-starts-extraordinary-cash-saving-measures-to-prevent-debt-default\/\" title=\"Congress Misses Debt Ceiling Deadline, Treasury Starts \u2018Extraordinary\u2019 Cash Saving Measures To Prevent Debt Default\">debt ceiling deadline<\/a>.<\/p>\n<p>In a letter obtained by the <i>Washington Examiner<\/i>, Rose said he is \u201cconcerned\u201d about the methods the Treasury used to calculate the &#8220;X-date&#8221; at which the country will default on its debt. He said the country deserves the most transparent and accurate calculation of the X-date due to the economic fallout that could come from missing it. The letter was sent to Yellen on Thursday.<\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/biden-student-loans-cancellation-in-limbo\" target=\"_blank\" rel=\"noopener\">BIDEN&#8217;S OTHER CONSTITUTIONAL CRISIS: STUDENT LOANS CANCELLATION IN LIMBO<\/a><\/b><\/p>\n<p>\u201cIt is therefore imperative that this administration&#8217;s Treasury Department not only be genuine and forthright when it declares a certain date as the &#8216;X-Date&#8217; when the federal government can no longer meet its financial obligations, but also be completely transparent with the methods and data used to determine that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/key-gop-panel-member-asks-yellen-to-show-how-she-calculated-debt-limit-x-date\/\" title=\"GOP member wants Yellen to explain debt limit calculation.\">potential default date<\/a>,\u201d Rose said in the letter.<\/p>\n<p>Rose is asking for information on:<\/p>\n<ul>\n<li>The methods and data used to calculate the X-date<\/li>\n<li>What specific measures are being taken to mitigate the risk of default<\/li>\n<li>Which obligations are being prioritized if the country could pay some but not all of its debt<\/li>\n<\/ul>\n<p>Yellen said the country could default as early as June 1 if the debt ceiling is not raised. She is scheduled to <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/janet-yellen-to-appear-before-house-financial-committee\" target=\"_blank\" rel=\"noopener\">testify<\/a> in front of the House Financial Services Committee on June 7.<\/p>\n<p>\u201cI am writing to note that we estimate that it is highly likely that Treasury will no longer be able to satisfy all of the government\u2019s obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1,&#8221; Yellen wrote. &#8220;These estimates are based on currently available data, and federal receipts, outlays, and debt could vary from these estimates.\u201d<\/p>\n<p>The chairman of the committee and one of the lead negotiators for the House on the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pressure-for-compromise-mounts-as-biden-mccarthy-resume-debt-limit-talks\/\" title=\"Biden and McCarthy under pressure to compromise in debt limit talks.\">debt limit talks<\/a>, <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/patrick-mchenry\" target=\"_blank\" rel=\"noopener\">Rep. Patrick McHenry<\/a> (R-NC), said he fully believes Yellen when she says June 1 is the deadline.<\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/b><\/p>\n<p>\u201cShe said June 1, and she is in charge of cash management. There&#8217;s a whole bureaucracy within the Treasury. They don&#8217;t play games,\u201d McHenry said. \u201c[Yellen] has enormous experience, and she&#8217;s a straight shooter. And I don&#8217;t think there&#8217;s any wiggle room for us. \u2026 We recognize the deadline that I think is operational for us.\u201d<\/p>\n<p><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/kevin-mccarthy\" target=\"_blank\" rel=\"noopener\">House Speaker Kevin McCarthy<\/a> (R-CA) and his chief negotiator, <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/author\/rep-garret-graves\" target=\"_blank\" rel=\"noopener\">Rep. Garret Graves<\/a> (R-LA), have also said they believe Yellen when she says the deadline to raise the debt ceiling is June 1 and that is the deadline the House is working off of.<\/p>\n<\/blockquote>\n<h3>Why Rep. John Rose is Asking for Transparency on Debt Ceiling Deadline<\/h3>\n<p>Rep. John Rose (R-TN), a House Financial Services Committee member, is asking Treasury Secretary Janet Yellen to provide information about the methods and data the Treasury Department used to come to the June 1 debt ceiling deadline. In a letter obtained by the Washington Examiner, Rose said he is \u201cconcerned\u201d about the methods the Treasury used to calculate the &#8220;X-date&#8221; at which the country will default on its debt. He said the country deserves the most transparent and accurate calculation of the X-date due to the economic fallout that could come from missing it.<\/p>\n<p>Rose is asking for information on:<\/p>\n<ul>\n<li>The methods and data used to calculate the X-date<\/li>\n<li>What specific measures are being taken to mitigate the risk of default<\/li>\n<li>Which obligations are being prioritized if the country could pay some but not all of its debt<\/li>\n<\/ul>\n<p>Yellen said the country could default as early as June 1 if the debt ceiling is not raised. She is scheduled to testify in front of the House Financial Services Committee on June 7.<\/p>\n<p>House Speaker Kevin McCarthy (R-CA) and his chief negotiator, Rep. Garret Graves (R-LA), have also said they believe Yellen when she says the deadline to raise the debt ceiling is June 1 and that is the deadline the House is working off of.<\/p>\n<p>It is important for the Treasury Department to be transparent with the methods and data used to determine the potential default date, as the economic fallout from missing the X-date could be severe. Rep. Rose&#8217;s request for transparency is a step towards ensuring that the country has the most accurate and reliable information regarding the debt ceiling deadline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rep. John Rose (R-TN), a member of the House Financial Services Committee, has requested information from Treasury Secretary Janet Yellen regarding the methods and data used by the Treasury Department to determine the June 1 debt ceiling deadline. In a letter obtained by the Washington Examiner, Rose expressed his concerns.<\/p>\n","protected":false},"author":1,"featured_media":1938013,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[25149,5487,5197,6203,6612,5286],"class_list":["post-1938012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-calculation","tag-debt","tag-explain","tag-gop","tag-limit","tag-yellen"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1938012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1938012"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1938012\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1938013"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1938012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1938012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1938012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}