Tag: Janet Yellen

Yellen Says US Will Send $10 Billion in Economic Aid to Ukraine

Tina Marie (Ms. Cat)

Yellen Says US Will Send $10 Billion in Economic Aid to Ukraine

The US has already provided about $13 billion in budgetary aid to Ukraine, which pays for government services, pensions, and healthcare

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“In the coming months, we expect to provide around $10 billion in additional economic support for Ukraine,” she said.

Additional aid will be pulled from the $45 billion Congress authorized to spend on Ukraine in December. So far, the US has approved $113 billion in spending on the war, which includes military aid, training, funds for the Pentagon to replenish stockpiles and pay for troop deployments, and economic assistance.

Inflation, Fiscal Conservatives?! *crickets*

Millions of seniors on Social Security are at risk of losing benefits this summer if the GOP doesn’t raise the debt ceiling

Tina Marie (Ms. Cat)

Millions of seniors on Social Security are at risk of losing benefits this summer if the GOP doesn’t raise the debt ceiling

As Insider previously reported, Biden could get around Congress through a process known as minting the coin, in which Biden could deposit a $1 trillion platinum coin in the Federal Reserve thanks to a loophole in the types of coins the Treasury can mint. But Yellen has dismissed that idea on numerous occasions and remains committed to Congress lifting the debt limit once again.

Manchin Wants Deal on Debt, Social Security, Medicare and Medicaid

Tina Marie (Ms. Cat)

West Virginia Senator Joe Manchin [Democrat] said Thursday that Congress needs to deal with the nation’s “crippling debt” by making changes to shore up Social Security, Medicare, Medicaid and other programs he said are “going bankrupt.”

Manchin Wants Deal on Debt, Social Security, Medicare and Medicaid

Joe Manchin, speaking at a conference for CEOs, blames the stimulus checks us plebs received for causing inflation! It couldn’t have been the PPP loans, that were forgiven, or the handouts for the Military Industrial Complex every year! 🙄

FYI, Biden didn’t say anything about protecting Social Security from his own party:

“I will not cut Social Security,” the president said. “I will not cut Medicare, no matter how hard they work at it.”

‘I Will Not Yield’: Biden Vows to Fight Any GOP Attack on Social Security, Medicare

U.S. Officials Had a Secret Oil Deal With the Saudis. Or So They Thought.

Tina Marie (Ms. Cat)

After Saudi leaders pushed to slash oil production despite a visit by President Biden, administration officials have been left fuming that they were duped.

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“I keep listening to, ‘Are you with us or against us?’ Is there any room for, ‘We are for Saudi Arabia and the people of Saudi Arabia’?” he said. “We will have to deliver our ambitions.”

U.S. Officials Had a Secret Oil Deal With the Saudis. Or So They Thought.

Saudis say US sought 1 month delay of OPEC+ production cuts

Tina Marie (Ms. Cat)

DUBAI, United Arab Emirates (AP) — Saudi Arabia said Thursday that the U.S. had urged it to postpone a decision by OPEC and its allies — including Russia — to cut oil production by a month. Such a delay could have helped reduce the risk of a spike in gas prices ahead of the U.S. midterm elections next month.

Saudis say US sought 1 month delay of OPEC+ production cuts

Related:

Saudi Arabia Defied U.S. Warnings Ahead of OPEC+ Production Cut

The one-month delay requested by Washington would have meant a production cut made in the days before the election, too late to have much effect on consumers’ wallets ahead of the vote.

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To entice the Saudis to delay their decision, U.S. officials told the kingdom they would buy oil on the market to replenish Washington’s strategic stockpiles if the price of Brent, the main international benchmark, fell to $75 a barrel, according to U.S. officials and people inside the Saudi government.

Quid pro quo, huh?! 🧐💭

EU Pushes For More Sanctions Which Will Come Back To Bite It

Tina Marie (Ms. Cat)

On February 22, two days before Russian troops entered the Ukraine, the U.S. and the EU put reams of sanctions onto Russia. They also confiscated some $300 billion of Russia’s reserves that were invested in the ‘west’. The sanctions had been negotiated between the EU and the U.S. and prepared for over several months.

EU Pushes For More Sanctions Which Will Come Back To Bite It

OPEC+ To Cut Oil Production By 2 Million Barrels Per Day

Tina Marie (Ms. Cat)

OPEC+ To Cut Oil Production By 2 Million Barrels Per Day

The specter of OPEC+ even considering such a large cut as global oil supplies are tight has sent the Biden Administration reeling. White House spokesman John Kirby on Wednesday said that the United States needed to be less dependent on OPEC+ and other foreign producers of oil. The White House was reportedly in a panic leading up to the meeting, trying to prevent OPEC+ from taking such a “hostile act”. In the runup to the meeting, the White House unleashed Amos Hochstein, Janet Yellen, and Brett McGurk to plead its case with the Gulf Nations. Evidence suggests the move had zero effect.

Related:

White House Disappointed With OPEC’s ‘Shortsighted’ Decision

In the meantime, the American Petroleum Institute (API) has criticized the administration’s energy policies, saying that dependence on OPEC and other foreign countries for our energy is a “choice”.