Her Last Official Act

DEBT: Biden’s team celebrated as everyone left work for the last time last night. On her way out Secretary Yellen decided to drop a bomb announcing the US will run out of money on Trump’s first full day in office. Great work! https://t.co/6TPYuV2PiU pic.twitter.com/3mS9MWgnWg

— @amuse (@amuse) January 18, 2025

When Joe Biden and Janet Yellen arrived in January 2021, they had $1.6 trillion in cash in the US govt bank acct.

They are leaving Trump with only $600 billion and the debt ceiling preventing Trump's administration from borrowing anything.

This was done intentionally. Yellen… pic.twitter.com/vd1yWD4Uod

— Wall Street Mav (@WallStreetMav) January 13, 2025

… could have borrowing during December 2024 to increase cash balances before the debt ceiling snapped back into effect on January 1, 2025.

Former Speaker McCarthy gave Biden and Yellen an unlimited debt ceiling (2023 deal) until Jan 1, 2025. Janet Yellen intentionally spent down cash in Nov and Dec 2024 and purposefully arranged a debt crisis for Trump.

Janet Yellen leaves US Treasury in a huff:

Incompetence, malpractice, and childish spite pervade, Janet Yellen's letter to Congress today on the US approaching the $36 Trillion debt limit.

Aside from the US cutting spending, Yellen has $1 trillion of ceiling room she can… pic.twitter.com/6sji0otO0S

— Robert Bowes (@Robert_B_Bowes) January 18, 2025

… authorize, yet she chose to stick it to Postal Service and Civil Service retirees by issuing them IOUs of $8.3 billion per month.

Next week, Scott Bessent can undo this nonsense.

Yellen failed to provide Congress any visibility to tax payments starting to flow in for 2024 tax season.

Yellen omitted to inform Congress of the larger available tools and cash inflows and outflows:

1. Treasury had a Deecmber balance of $700 billion in cash on hand that could be used to extend the time to hitting the debt ceiling.

2. Treasury could redeem $294 billion from the Fed Thrift Retirement Fund G (and let it invest in other money market investments)

3. Treasury can free up $17 billion by not stabilizing foreign currency funds

4. Another $15 billion could be saved by having the Federal Financing Bank issue Treasury special securities.

5. $6 billion can be freed up by not backstopping State and Local municipal bonds.

🚨 NEW: Treasury Secretary Janet Yellen leaves the building for the final time. She’s not returning.

pic.twitter.com/E9sQKMo54r

— Eric Daugherty (@EricLDaugh) January 17, 2025