ABC News’ Elizabeth Schulze reports on why the US government is close to default and the devastating effects Americans will face if Congress doesn’t raise the debt ceiling. ABC News Live Prime, Monday through Friday at 7EST and 9EST WATCH ABC News live here: https://www.youtube.com/watch?v=w_Ma8oQLmSM SUBSCRIBE to ABC NEWS: https://bit. ly/2vZb6yP See more at http://abcnews.go.com/ LIKE ABC News on FACEBOOK https://www.facebook.com/abcnews FOLLOW ABC News on TWITTER: https://twitter.com/abc #DebtCeiling #Taxes #Default #Congress #ABCNLPrime
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This is what happens to people who don’t know how to manage money, or their credit cards. Sad we have such incompetent people in control of our tax dollars. Now they want to raise the debt ceiling. They can barley pay the interest at its current level. This is complete BS.
how tf is it a ceiling if u can just raise it ever so often
Why do you not blame Biden for borrowing $4T from China Communist? Biden wants to spend it to stay in power?!
-Why do Fox news questions smell CNN type and even interrupt into guests' answers from both parties?!
-Foxnews wants to make an internal fake conflict between Trump and Ron DeSantis and Tim Scott!
– Lefties want to remove Trump from the election by dirty tools (performed by Manhattan district court) and destroy Ron DeSantis and Tim Scott!
– Paying $529 B interest of $32 T National debt per year to the lenders like China communist is tough and painful and destroy the economy!
Taking the dollar off the gold standard wasn't a default?
The next award is for the whoever can put on the biggest charade while actually not laughing their a×i$ off.
They were 20 billion apart now they are 70 billion apart. That is basically nothing in terms of the great cash bleed of the 21st century.
Their is a nation much older than ours by thousands of years. I think that nation of people know far more about what is happening right now than they will ever tell.
Buried in a vast sea of tome' records in a vault somewhere under the seat of power in China is the literal solution. The exact solution. Too bad Americans will generally never accept it.
To the death then I guess
It's not going to happen. The economy has been in a worse state with an agreement always being reached.
The bank can't make money if they aren't giving loans. We can't pay back our debt if they crash our economy. Everyone loses.
An agreement with be reached that sucks but we will pay for it regardless.
And if by a slim chance that an agreement isn't made we will still pay. Lol
So no point in worrying about what could happen because you have no say. Your very existence is to just keep paying and you will. We all will.
So just always be prepared for the worst and until then kick back and continue living your life to the fullest. And pay them taxes.lmaooo
The government made a promise to the ppl and no matter what should keep it. I understand because of the value clause they can't just print more money but hey by the way things are going in Washington, we're already low valued.
The goverment embezzle Trust funds
Congress is rob and raping the American people over the quick sand.
Still think giving Zelensky billions upon billions is a good idea
How did we get here.
Simple.
Democracy gave us a divided government. One party decided they weren't going to negotiate. 😂 hence the crisis point.
Congress's refusal to provide a clean bill to the President, opting instead for unacceptable provisions that hinder the resolution of the debt ceiling issue, demonstrates a dereliction of its duty. This stance has created a state of uncertainty and threatens to disrupt the financial stability of the government. Without a timely resolution, the nation faces the risk of default, which would have far-reaching economic consequences. It is crucial for Congress to prioritize the proper functioning of the government, fulfill its responsibility to ensure financial stability, and act in the best interest of the country by swiftly addressing the debt ceiling issue and avoiding a potential default.
lol lets go in default