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- เผยแพร่เมื่อ 14 ต.ค. 2024
- In the United States, lawmakers are scrambling to agree on a plan to raise the amount of money the government can borrow. If no deal can be reached by June 1st, the country would default on its debt - a move that could have a catastrophic effect on the US and global economy. But what exactly is the "debt ceiling," and why does it matter so much?
#usa #debt #globaleconomy
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they both looked so thrilled about the possibility of america defaulting on its debt, lmao
I was thinking the exact same thing and wondering what is it with this kind of news that is so exciting they look as if they are talking about the Eurovision song contest.
"The same procedure as every year?" " The same procedure as every year."
This crisis has happened three times before: 1995, 2011, and 2013. Each time, a Republican Congress thought that it could get policy concessions out of a Democratic president by threatening a default. It didn't work, but they still do it.
There are quite a few thing happening at the same time this year, so it may be not be as predicable.
the professor looked so thrilled to talk about this haha
He has the look on his face like his entire life has been building up to this moment.
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Cohen
he's talking from a position of FORCE ...a lot of force . Thats why !
He's talking PARADOXICALLY not about the U.S here but about the FAITH of the less developed countries here :(
I know it sounds weird but thats how it is
Teleprompter no doubt
Funny question when everybody knows they'll just raise and top up their debt again.
☝🏼this
they'll raise the debt and water-down the dollar with inflation.
@@TreDogOfficial
They have already done that
Lol money printer go BLRRRRRRR
FYI The debt ceiling is a decision to pay for the things they've already purchased. If you want to discuss spending cuts, do it during the annual budget passed by congress. You don't just not pay the bill.
The annual budget seems to be democrats showing with a list of spending demands, and republicans showing up with a similar list. They agree that a budget can pass if both sides can spend whatever they want. Fiscal responsibility only becomes a talking point after the fact.
exactly, Both sides are playing this dumb game
@@BigBoss-sm9xj BOTH SIDES are not, Democrats did not threaten to default the United States (and world economy along with it) when they took control of House in 2006 during Bush or 2018 during Trump Presidency. Some lone or group of Democrat Congress legislators might have threatened, but no party wide mobilisation to block the President from raising the debt ceiling.
"budget"
government spending is typically from specific legislation.. but the government sneaks everything and anything into one single bill that nobody reads.. every year..
The lady is always smiling in her speeches, such a chill lady
I just love when people tell me about disasters while looking overjoyed to be doing so. This guy is great.
The reporter and the prof are over happy... No clue why
DW Business: Could the US default on its debt?
USA: What debt? (printing more money behind)
Our national debt really doesn't matter until the interest that we pay on that debt becomes larger than our gdp.
That's when it all unwinds
Just keep on raising the debt and printing more money for the next generation to deal with.
The US is a huge liability
National Debit will go up over 32 Trillion, and still never be pay in full
so just default now and be done with it
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@@jhonditch4269 done for few times.... the same mistake would happen again
similar to ponzi scheme, US is cheating everyone's wealth
@Karl Schulze hahaha hahaha hahaha ! Never knew my father but that is the surname that got Karl....gotta deal with it....eye guess...but this Dragon was not born a Dragon became one via lots and lots and lots of workouts..
no problem we can print more, and the world will just suck it up.
It's always weird to me when I hear something along the lines of "reducing taxes is a spending increase".
It's why Republican administrations nearly always run higher deficits. Cut taxes for the wealthy and corporations, keep spending the same, add the bill to the national debt for future generations.
@@delos2279 To be fair, the democrats are equally guilty, we need to find a way to bipartisan decrease spending (or optimize how the funding is used)
@@falloutking2819 Depends on the objective. Of course a split congress takes both sides to compromise. But on the actual issue, Republicans are MORE guilty of increasing the national debt that they claim to care more about.
Or rather, for Republicans, taxes are the real issue. They don't really care about the debt and would rather decrease taxes and increase the debt, than anything else. You wouldn't know from their rhetoric but it's their actual policies.
Meanwhile I agree with the economist here (nearly all economists). Government spending is perfectly fine, particularly in an economic downturn. But taxes need to cover most of it. And certainly threatening default should not be a partisan bargaining chip. Even threatening that like republicans always do can already worry creditors and increase interest rates. Which means paying more interest on the debt, that republicans also keep increasing more.
@@delos2279 That’s a fair representation and well thought arguement I thank you for that. I’m certainly not disagreeing, as I’ve seen the policy decisions for the last few administrations (you never listen to the politicians speeches, just look at the laws they write). I just have a tendency to focus on bipartisan support in comment sections, because otherwise these debates turn into partisan cesspools. Which I genuinely think as a voting base how we got to the place we are at.
Here in the U.S., the GOP is known as the G.O.P.O.S..
America would not even pay for their own millitary if having the default and we all wonder why are they still supporting Ukraine?
There isn't a "debt ceiling", there is a "DEFICIT CEILING" and raising it is mostly a matter of satisfying the associate legalese.
Why are they smiling like madmen? Creepy af
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What is the defense budget?
It can default, but it wont. The debt ceiling will be lifted at the 11th hour. Zero risk here. 31 Trillion will become 60 million in another 10 years when we face the same crisis.
Every time there's a Democratic president, republicans do this song and dance, threatening to burn the house down to pretend they care about the national debt. Meanwhile republican presidents run bigger deficits pretty consistently.
Her facial expressions made my day😊
There is already a bill to raise the debt ceiling. Just pass it and sign it.
This measure will no longer help to avoid the collapse of the system, and Republicans understand this. The dollar has not been provided with anything for many years, and the purchasing power of the dollar is decreasing every year, as an increasing number of countries abandon unsecured pieces of paper
yes and it should
Wow. Even mainstream news stations are now talking about a US debt default. Interesting...
the "dept" without "ceiling" is now $35 Trillion. Depts is a house without ceilings. 🤷🏽♂️
The USA can't go on Increasing the debt ceiling ad-infinitum something has to give sooner or later.
when there are too many debts, USA government stops worrying about them.
It's the taxes the grandchildren have to pay.
There are some countries with Highest inflation rates worldwide:
1. Zimbabwe, 2. Venezuela, 3. Sudan, 4. Turkey, 5. Argentina. Who is the next countries with the economy growth is already in crisis ? 🤒😢🙏
Shouldn’t spending cuts be in the budget already?
So looking forward to USA collapsing.
No, it's the same clown show every year 🤡🤡🤡
Venturing into the realm of informed speculation:
In the event of a U.S. default on its debt on June 1st, the interest rate growth on the U.S. federal debt could skyrocket by a staggering 10%. This sudden surge in borrowing costs would lead to an annual dollar value increase of approximately $500 billion in interest payments alone. As for mortgage rates, brace for a significant jump of 2.5%. This would cause a substantial impact on the housing market, with an estimated annual dollar value increase of $200 billion in mortgage expenses for American homeowners.
If they default, we're all screwed. If the Republican demands are acceded to we're all screwed. If they keep raising the debt limit without funding it and the the many other unfunded budget items we're all screwed. I think we're all screwed ... its just a matter of how long!
They can’t afford the debt they have and live way beyond their means so yes perhaps it’s in the best interests for everyone they default.
Russian troll ☝
They are on such an unsustainable course already that it’s really just a question of when, not if, they default
No one is willing to cancel the USA's debt? Ridiculous.
With over $30 trillion in debt, how could the citizens of the US pay for it in this economic climate.
FIRE Janet Yellen and Fire Jerome Powell.Suspend printing authority of the Federal Printing no more FIAT .
OMG dude stop smiling!! 😳
Are we going the way of Puerto Rico?
So in other words the US economy Is a joke
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank ❤
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Let the US default.
I DECLARE BANKRUPTCY!
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Janet Yellen is out to lunch, the President can invoke the 14th Amendment section 4 of the US Constitution which states that all US debts must be paid.
Holy moly, Kate is somehow looking even more extravagantly gorgeous than usual today. 😲
This happens every year and its really is no big deal. This is the only way to bring the Democrats to the bargaining table and get them to slow down with spending g money on credit. It's like asking your credit card company to increase your credit limit, without paying off anything that you already owe.😊
Its actually 32 trillion Dollars.
US posh living Culture VS Japanese wise living Culture
I'm dumping all my dollars for Yuan
beware the games on Steam are in dollars :P
@@kukulroukul4698 good. games would be cheaper if dollar falls.
Well here we are again
What happens when you take on the global debt...
This is not just the US debt.
No. Get over it
Order more ink and printers
Could it?
yes
Will it?
eventually
WHY IS IT SO HIGH IN OTHER WORDS THE U.S. ALREADY DOOM
TAX THE RICH as simple as that
Almost bankrupt.. its very sad
Credit rated by the same people that print it
Eventually they will have to pay for there mistakes! Pay your bills
US gdp $26 trillion
US debt $32 trillion
India gdp $3.7 trillion
India debt $0.5 trillion
India - rich
US - poor
25% of the debt occured when Trump severely reduced taxes for the rich. Biden has increased taxes for the very rich which is making a dent on the debt.
👆 Imagine believing this. 😂😂😂
That's only $1 trillion, within a span of 10 years. A bigger part of this is the Covid give-away scam.
Except most economists agree pushing for more capital taxation usually leads to less investing and conservative saving, which damages the economy in the long run. They certainly shouldn’t get tax breaks, but raising the taxes helps no one either. If anything a middle class tax break is the solution bc it stimulates the economy
@@kth6736 current US public debt is at 30 trillion USD, Trump administration racked up 8.18 trillion of that in 4 years. Biden administration through 2.5 years is at 2.5 trillion USD debt added.
The non-partisan Congressional Budget Office estimated that 2017 Trump Tax Cuts would lower revenue by 2.3 trillion USD and bring in 460 billion USD over 10 years, essentially a 1.9 trillion USD deficit.
The same CBO also released their estimates for Biden's Inflation Reduction Act. The corporate alternative minimum tax rate is estimated to raise 310 bil USD, enhacement of tax collection will bring in 203 bil over 10 years. Of course, the act also came with other provisions that increased spending, decreased revenue (tax credits to renewable energy initiatives for example) totaling in at 90 billion deficit reduction.
Great ❤❤
It's over your head Republicans.
My DRT Theory Best at this Point for the Collective North American Civilization. Support Dragon's DRT for the U.E.U. Join us and let us rebirth !
constantin barbu , a lingivstic historian that helped many countries to complete or give answers to their puzzles regarding their old manuscripts showed the whole world that romania is the only country that has complete manuscripts older than 2500 years.
He showed on your language ,history and lingvistic history that romania is the oldest country. Now ,before orthodox christianity romania was pagan. One of the apostoles of Iisus Hristos ,named Andrei ,came 2023 years ago in romania and since then ,romania became Orthodox.
church of west (renamed catholic after herezi) and Church of east ,Orthodoxy ,were toghether for 1054 years but ,the church of west went in herezi and they put head of the church as pope ;they consider popes replacers of Hristos on earth. Orthodoxy did not accept that because head of church is Iisus Hristos.
In 2016 they made ecumenical sinod for all other denominations(sects)along with catholics to unite with Orthodoxy and have head the pope.
Today Orthodoxy is split in two :
one is ecumenistic.
One the real and only true faith ,wich is for 2023 years ,wich still has Iisus Hristos as its head..we
Great reason to finally balance the checkbook stand firm
maybe sell bond to china ...and stop trying to mess around in other ppls problem ...we cant save everyone
In computer it's called cheat engine 😑😑😑
and in LIFE ? (not the game) the real one.
I'll spare your effort answering already : In real life would be called ''YET another wc flushing''
THE IMPORTANCE of the big finance is hugely OVERRATED in the media !!! yes tthere is a thing but.... NOWHERE NEAR of an existential threat or something like that.
IF you have DEMOCRACY ? you shouldnt be worried about this fellow HERE
Sanctions are Working 😂😂😂
All finantial pyramids fall one day
Us yankees can definitely default
🔥🔥🔥🔥🔥🔥🤌🏾🌹DW
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He's a horrible speaker ... can't do a complete sentence without UMMs and repeating words and stalling. Horrible speaker.
The debt ceiling is the same as a normal ceiling except instead of being made out of drywall it's made out of debt.
Wow thats a huge smile in your faces. What gives? 🤔
Дефолта не будет - твёрдо и чётко!