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Janet Yellen Warns ‘Extraordinary Measures’ Incoming As $36,288,567,567,400 National Debt Approaches Ceiling

Treasury Secretary Janet Yellen is urging Congress to act as the debt ceiling deadline approaches. In a letter to Speaker of the House Mike Johnson, Yellen says the government will likely reach its debt limit sometime in January, largely because of obligations related to Medicare payments – forcing the government to take “extraordinary measures” to pay its bills. The Treasury has previously used the term “extraordinary measures” to refer to suspending investments in certain entitlement programs, pausing sales of Government Series treasury securities and other accounting maneuvers to keep the government running. Says Yellen, “Treasury currently expects to reach the new limit between January 14 and January 23 at which time it will be necessary for Treasury to start taking extraordinary measures. I respectfully urge Congress to act to protect the full faith and credit of the United States ” At time of writing, the US national debt is currently at $36.28 trillion. The government spent nearly $1 trillion simply to service the interest on the debt in fiscal year 2024, which ended last year on September 30th, according to the Congressional Budget Office (CBO). In a recent interview at the Wall Street Journal’s CEO Council Summit, Yellen expressed regret about not being able to improve the US fiscal situation. “I am concerned about fiscal sustainability, and I am sorry that we haven’t made more progress. I believe that the deficit needs to be brought down, especially now that we’re in an environment of higher interest rates. For example, over the last year the interest cost of the debt has increased by several hundred billion. It’s one of the largest items responsible for the increase in the budget deficit. And we do need to bring it down. The primary deficit excluding interest is now a little over 3% and I believe it needs to come down.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Janet Yellen Warns ‘Extraordinary Measures’ Incoming As $36,288,567,567,400 National Debt Approaches Ceiling appeared first on The Daily Hodl . CoinTurk News

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Legal Expert John Deaton Condemns This XRP Notable Exclusion

John Deaton, a well-known attorney and former U.S. Senate candidate, has weighed in on XRP’s potential for 2025, citing prominent price forecasts. Deaton shared his views after Peter Chung, Head of Research at Presto, provided bullish predictions for several cryptocurrencies while excluding XRP from his analysis. In a recent interview, Chung predicted that Bitcoin could reach $210,000, Solana might climb to $1,000, and Ethereum’s price ratio to Bitcoin could increase from 0.03 to 0.05 by the end of 2025. However, XRP’s absence from his forecasts raised questions, especially considering the token’s notable achievements in recent months. Deaton Highlights the Token’s Strong Performance Reacting to the omission, Deaton emphasized XRP’s growing significance in the cryptocurrency market. He noted that the asset is the third-largest cryptocurrency by market capitalization, excluding stablecoins. He also pointed out that the token closed 2024 with significant gains, building optimism for its future performance. Deaton referenced an article from Barron’s that highlighted the token’s remarkable rally last year. According to the report, the token’s price surged from $0.55 on November 5 to $2.86 by December 3, marking a substantial increase. Diverse Predictions for Future Performance Several industry leaders have shared their predictions for XRP in 2025, with varying levels of optimism. Arthur Azizov, CEO of B2BinPay, suggested that the token could trade between $5 and $7 in the early part of the year, citing Ripple’s technological developments and the favorable market conditions following the U.S. presidential election. Hani Abuagla, a crypto analyst at XTB, provided a broader forecast, suggesting that the token’s price could range from a conservative $5 to an ambitious $100. Abuagla believes regulatory developments, particularly under a potential Trump administration, could help shape the token’s future. Ryan Lee, a researcher at Bitget, offered a balanced outlook. He predicted that XRP could trade within an average range of $1.8 to $8.4. He also expressed optimism that the token might surpass $10 if favorable conditions persist throughout the year. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Market Reactions and Current Status The wide range of predictions has sparked debate within the crypto community. While some analysts remain optimistic about the asset’s potential, others argue that its recent rally to $2.86 in December may have marked a peak. Deaton refrained from offering his forecast but underscored the importance of the token’s current market performance. Currently trading at $2.39, the asset reflects a 3.76% increase over the past 24 hours. It has solidified its position as the third-largest cryptocurrency by market capitalization, with a market value of $137.26 billion. The token’s absence from Presto’s predictions has reignited discussions about its potential in the cryptocurrency market. While forecasts vary, the token’s strong 2024 performance has left many investors and analysts optimistic about what lies ahead in 2025. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Legal Expert John Deaton Condemns This XRP Notable Exclusion appeared first on Times Tabloid . CoinTurk News