President Joe Biden cuts his foreign trip short as the clock ticks down on the debt ceiling showdown. ABC News’ Rachel Scott reports on the latest negotiations to avert a national debt crisis. https://abcn.ws/3oad4Ig SUBSCRIBE to ABC News on YouTube: https://bit.ly/2vZb6yP Latest Updates: http://abcnews.go.com/ Watch FULL EPISODES on Hulu: http://abcn. ws/3bzvQQn #news #debt #politics #abcnews #biden
Original source (ABC/Youtube)
This is all just one big political con game and the US public are the pawns. Republican or Democrat either ways you look at it, it can be either a six or nine. They are both flip sides of the same tarnished coin.
Republicans are keeping tight the net profits and growth their received when they placed the tax cut and jobs act onto Trump's desk to sign into law back in 2017 about 40 Republicans has retired since then as they likely working from behind the scenes see for example Paul Ryan ,the freedom house caucus has issued his annual threat on behalf of Republicans as they propose spending cuts from government programs, what Republicans are shitting about is that the IRS under it's 80 billion dollar budget will reveal that that the king have no clothes on that the top 1% earners are hiding undeclared income that the funds are in equities would deprive them from their annual sugar daddy contributions that 50% of billionaires are no different from Donald J Trump and associates,the proposed spending cuts will be vetoed by the president as Republicans will try to pass the bill on a party line vote , Republicans only objective is that the IRS knows that the funds the country needs is held in liquidity that those who continue to manipulate the markets , Republicans actions are no different from the 01/06 group of people who tried to overthrow the government, the spending cuts are also protects any retaliation against Clarence Thomas I hope next year the people who's going to elect possibly new members will recall and remember what has been happening here since Trump's hostile takeover of the government.
I don't understand this. The US is over $31 TRILLION!!!! in debt!!!! They will NEVER pay off that debt! The US GDP is only $26 trillion. It would take every penny every American person and company makes for over a year to pay off that debt. Let's put 31 trillions in perspective. The nearest star is 40 trillion kilometers away. One light year is 9 trillion km. If you lined up 31 trillion US Dollar, end-to-end they would stretch 4 billion kilometers (4,386,061,524km)!!!!! The planet Neptune is, on average, 4.5 billion kilometers from Earth!!!!! If you had a stack of 31 trillion US Dollars it would be 3,385,820 kilometers high!! Enough to reach Mars and back!!! That debt is insurmountable. At some point, this default will happen. They are only kicking the can down the road. We all need to wake up to this!!!
MORE💰💰💰💰to other countries!!!
FJB
We can't believe old Joe this Strolling in Japan and the COUNTRY IN BANKRUPTCY… thanks to his son Zelensky who is crazier than the father.
why we have debt ceiling, the gov spent so much in the war not for the domestic long term plan, just spent for social aids so the inflation keeps up.
They did this in 2012, and its a political move however, stagflation and lack of confidence is all they are gaining by replaying this nonsense. And this is not the generarion they wanna threaten with recession or debt ceiling. This generation is ruthless. So, just know… WE KNOW. weve seen this bullsh*t playmove before. And we never forget. .
How about we cut your wages and pay offs…… Bradon. Amazing how these people live so far beyond the money they make on paper…..smh
Get your ass back to work you clown.
But they have no problem finding money to fix other countries issues though, meanwhile their giving nothing back to this country and it's people but some cheap made materialistic crap that can be made in America so our people can have jobs etc, come go to school free, get tax credits, live illegally owning businesses housing, working jobs and all, such bs man! You better off moving to the country America giving the money to
Any default on the US economy will be the fault of the GOP!
How 'bout we talk about Military and Social Security
WOW! McCarthy I am amazed at how ignorant you really are. The speaker of the house is not a ruler they are a public servant with responsibilities to the country not party. Really, for every senior a person, family in desperate need of support the money support needs to come out of every government officials pocket. Those pockets are not essential services so why are all the house and senate seats being paid during this?
I swear I hope everyone is happy that voted for Biden.
Biden really destroyed America in 2 years. He blames everyone for his failures
I blame biden. Hes the president.
We need a full and complete default on the national debt!
abc fake news "journalists" can be easily had for the cost of an teener and In & Out burger.
This whole completely unnecessary crisis is nothing more than a self-manufactured power move by radical GOPs who would rather blow up the system in order to "win" than actually follow the will of the people, not to mention the Constitution.
"The more they wait." No, no, no. This is on Joe Biden! He is the one who REFUSED to meet with Republicans for 100 days, then when it's crunch time and our economy is on the brink, he takes a trip to Japan?! Dems should be outraged! If Trump did this, you'd crucify him and don't tell me you wouldn't!!
Crime, inflation, border invasion, sky rocketing costs, loss of energy independence, Afghanistan, embarrassment on the world stage…why would anyone think this will come out well…when you vote for democratic incompetence that is exactly what you get..ABC…never misses an opportunity to drive fear and division…ABC and Democrats are what is wrong in America
To clarify, one of the key issues that the Democrats are against is the Work requirement for Federal Aid programs. That ONLY applies to able bodied individuals with NO dependents.
Obvious threat to Dems who want to keep as many as possible dependent on Government.
Disgusting.
Do you mean that you are the most ignorant company in the whole world your own by the richest dog at her face the other face of the Earth you're the Antichrist himself is that what you are saying I think so
This is so ridiculous to be happening. Something as big as this should not be inhibited by party lines and it should definitely not be a time when Biden is traveling around the world.
managing the debt ceiling and addressing fiscal challenges does require a careful balance between government spending, revenue generation, and long-term fiscal sustainability. It will take decades. Meanwhile we keep borrowing from 🇨🇳😂
certain expenditures, such as mandatory spending on entitlement programs or debt servicing costs, may be challenging to modify or reduce without significant policy changes or reforms.
joetato is laboring under the delusion that the federal government doesn't waste billion of dollars everyday
Keep that open door on the border open and it'll become 10x worse !!!!
All da black babies mama's will start to rob places for not getting dey "Blacktitled" government checks !!
I see signs of hope, but consequences behind this. Remember the republicans have the house.
The media loves to hype everything whether it's good for the country or not. A default won't happen. Biden (Dark Brandon) will inact the 14th amendment if the Republicans push it. The rich 1% who really run this country won't let it happen either. They would lose billions. It's not going to happen!!!
Congress wants to live on the streets at a salery of 175 000 to 215 000
Social media enforces people to be homless and live on the street.
Meanwhile the American flag-waving morons shouts a slogan “USA! USA! We’re the richest country in the world!”
Cough cough $50+ trillions debt.
Default is guaranteed. Prep according. 🤣
Still no deal? There should not be a deal on paying our lawful obligations. If Republicans fail to vote to increase the Debt Limit, it would throw the Country into economic and social chaos. Mr. McCarthy has been the face of the MAGA obstructionists and will likely be the person held responsible by the rage of the people that will get hurt. They keep talking about a deadline of June 1st, but that is just an estimate and any miscalculation or unforeseen event could force the chaos by pure negligence for the act of gambling with our Nation's credit and the people's well being. Get it done now.
Hope an agreement is made thank u President Biden
Jente criminal no respetan an a biden karma
Biden should not make a deal. It’s the Republicans who will suffer from a default. They are the ones with the money. 😅
borrowing money for military build up instead of truly focusing on economy
Debt ceiling has always been risen. It’s a dog and pony show of how and where money will be distributed. Politicians of all ideologies are in bed with corporate executives.
We should start a petition to have that law put into place! We the people have the rights to make our government what we want our government to be!!!
people in congress and In senate should only be allowed in office max 8 years like the president, otherwise there's no real incentive yo do what's good for all the people because they're never affected by the things they do. If they only had 8 years max to be in office, it would make them do things for regular people because they would know that one day they too will be like anyone else!!!
Don't cave in to these stupid fucking democrats..wouldn't be in this situation if these bunch of stupid fucking idiots would quit spending money..
. . . IT IS NEEDFUL ONLY TO " CITE " THEIR OWN " UTTERANCES . . . "
Republicans passed a $2 trillion tax cut for billionaires and corporations. Now they're refusing to pay for it.