In an exclusive interview with CNN's Christiane Amanpour, US Treasury Secretary Janet Yellen lays out potential issues that could arise if the federal government exhausts extraordinary measures and fails to raise the debt ceiling. #CNN #News
Hear Janet Yellen’s warning if debt ceiling agreement is not reached
⚠️They basically failed. they was supposed to come up with an agreement on the debt ceiling yesterday January 19⚠️I’m sensing an insurrection in the future over benefits🤦🏻♂️
All countries should work together for the sake of democray Blessed Be.
What democracy?? It doesn’t exist. Elite rule over all of us like overlords over peasants.
Democracy starts at home and the US voluntary voting and failings in the constitution create this mess. The constitution is not fit for purpose and gerrymandering, low voter turnout, unrestrained secretive donors.
The whole set up is a democratic disaster.
US becoming a failing state.
@Harry Lippidardo the constitution is not fit for purpose either.
@Flyphish it’s last months word of the day. It’s over now that the midterms are.
The same democracy you brought to Iraq and Afghanistan ?
F.u really ❤️😅😅😅😅
We’re screwed.
Forget civil war, we’re heading towards a class war.
I.e an actual communist revolution.
“Heading towards?” You must be young. Class warfare in America has been going on since the first moments Europeans landed here.
Just don’t pay the lawmakers until they get things done.
That’s not really a solution. They’d just slap something together, no matter how horrible, just to get it done and get paid.
But if the U.S. debt ceiling is raised by federal, who is willing to buy new U.S. debt? Now many countries are selling the U.S. debt they already hold. I am afraid that starting this year, the United States will need to shrink and pay an annual interest of 310 billion U.S. dollars.
I like your idea
They are rich what do they care republicans are in it to make millions in dark money and power Dems have proven to be in it to actually try to make things better even though their screw-up show profusely, at least their hearts aren’t made of brimstone like the republicans
Can’t have that.
Can you imagine the homelessness if Social Security checks are not sent on time? There are tens of millions of Americans who need that check every month. And they either paid FICA all their working lives or suffered a serious disability.
@Stephen Amy You are more then free to believe whatever propaganda you wish.
@Stephen Amy I am fine with whatever ever you or “you guys” want to believe.
To create incentives to keep the economy growing we are all encouraged to go into more and more debt especially government debt. The banks do not have this money. They just create it by entering the numbers into the borrower’s bank account. In other words, they just pretend to lend money that they do not have. So the more debt there is the more money there is. The only chance of ever paying this debt back is if the economy keeps growing.
When the economy is continuously growing, the amount of money representing the value of the economy which is the Gross Domestic Product (GDP) also has to continuously increase. As more money in the form of debt is created, the resulting growth rate in the economy and GDP becomes lower and lower as more and more debt is created. In an effort to keep the economy growing, the debt will quickly increase to more than the value of the GDP and when the debt becomes several more times than the value of the GDP, it will not be possible to ever pay back the debt and the system collapses with the value of the money going to zero. When this happens, the system is reset and the cycle is repeated. During the run up and then the reset, there will be some winners but there will be mostly losers with many casualties and war is also a possibility. This cycle has been repeating continuously throughout history from the Chinese Dynasties to the Roman Empire to Germany after World War One and to Argentine in the 21st century. If the American Empire can avoid this cycle, they would be the first.
The idea and thinking that the economy always has to grow for a nation to progress and to be successful may be the problem. Presently if the economy is not growing, it is considered a failure. This type of thinking cannot go on uninterrupted on a finite planet with finite resources. There needs to be flexibility in the system for the economy to expand and contract and for a contraction to be considered normal and not a problem or a failure. The contraction needs to be just as prosperous and productive and the expansion. For this type of thinking to work, there needs to be some new economic theories and models developed along with some new types of money and financial systems based on economic sustainability not on economic growth and money inflation. I am sure there will be some Nobel prizes awarded to economists and politicians that can figure out how to make a sustainable economy work and how not to devalue the nations money.
This is why bitcoin exists……….it is sound money with buyers of last resort not lenders, when Russia invaded Ukraine, the fleeing Ukranians put their cash into Bitcoin it was the safest way to transport wealth across borders, in this digital age the idea of transporting gold is old-fashioned unsafe and impractical , major changes are ahead with the emergence of the Brics nations, the petrodollar could yet be joined by the petroyuan, the dollar dominance is set to decline, it seems to me that nations are picking sides to position for those finite resources, Africa has a role in the new thug of war along with the ironically thawing Arctic….Oh dear!
A simple link would suffice.
For starters, a nation’s currency can not be based on words. It needs to be based on tangible resources.
I would have to agree with your economic assessment. The current problem is that currently the retraction of the economy is a planned forced reduction, not a natural contraction. All this is doing is hurting people.
It’s like trying to deflate a tire that already has a leak in it! 😮
Everyone get your tax refunds now, just in case. I imagine that if theres default, the first thing they’ll do is “hold onto” everyone’s refunds.
Well it saves time, and cuts out the middle man, commonly known as we the people, no?
Refund?
and/or take your money out of your checking
Right I’m sorry but stop paying out to other Countries! How can they think of not paying SS and our Military when they are still supporting everyone else.
“Let us keep printing money and spending it everywhere or else republicans bad.”
She hasn’t been warning about the dangers of democrats spending like drunk sailors!
Last bill was $1.7 trillion!
Full of needless pork!!!
Anyone noticed she doesn’t answer the question? Then says the increased debt isn’t about spending . Lmao complete liar. She lied about inflation also. If the debt ceiling was so crucial why do they keep spending beyond their means? Imo stop the government employees pay until the budget is balanced, google how much federal employees make in your state. It’s insane. Better yet just don’t pass a thing and let the world burn.
Republicans want to cut cost. How about laying off 80% of border patrol officers. Particularly at Canadian and southern borders. Until Republicans pass the debt ceiling limit. To pay the debt that both parties created. And tax the rich equal to that of lower income, middle class and upper middle class citizens.
People on social security aren’t a burden to society!! They are the foundation of families, the backbone of communities!!
Disabled people are caregivers, moral support, standing in the gap, sharing their ideas and their strength in overcoming difficulties. These people are every bit a part of the strength of our United States!!
Thank you ❤
Some are just leaches on the system. It degrades all of us.
They are not a burden, so let’s do them a solid and terminate 3/4 of the Federal Civilian work force.
End fund and equipment to the Ukraine.
Fire sale of government property to the Civilians.
The higher the ceiling goes the more likely default.
Christiane Amanpour is wonderful. I love her voice as well.
I got a great idea. How about getting rid of tax deductions for dependents and stop making it a punishment and burden on single people. What about women who can’t have children and don’t want to adopt. They get screwed too. I am living in a dream world, but won’t happen. At least, in Minnesota, they have free breakfast for schools, now they want it for dinner. I never got that when I was in school. Get rid of that, someone has to pay for it! I am 46 I can’t work 70 hours a week anymore like I used to. I have horrible knees and high blood pressure. Plus, living in Minnesota, you to remove snow every other day, it is like having a part time job for 6 months! Disabled people and old people are a completely different story. Don’t get rid of that. I don’t mind working for that! Minnesota has billions of dollars in surplus. How about donating that to the national debt. They won’t. Minnesota Democrats are greedy, and only think of themselves!
The simple fact is that my confidence in Janet Yellens ability to manage the finances for the US is absolutely Zero percent.
I thought all this crap was “PAID FOR”!! The first thing they always do is try to scare people on Social Security.