ABC News’ Jay O’Brien and Alexis Christoforous discuss the ongoing debt ceiling negotiations and what it means for the economy. WATCH the live stream of ABC News here: https://www.youtube.com/watch?v=w_Ma8oQLmSM SUBSCRIBE to ABC NEWS: https://bit.ly/2vZb6yP Watch 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 #ABCNLUpdate #kevinmccarthy #biden #abcnews
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What Do We, American citizens and the Republications in office need to do to KICK OUT/Sequester President Biden, VP Harris, WH Democrats, FBI, DOJ, CIA and the Military – ASAP!!! WHAT can we do as citizens, Americans of the USA to take back our country RIGHT NOW? Is there a BIGGER, BADDER GUY OR GROUP hidden, somewhere out there….like a “The Imperial Wizard,”that is tucked away somewhere for just this kind of Betrayal of our USA Government?!
Again, I want to know where these 36% of Americans (a poll showed two weeks ago) that are still supporting President Biden and the WH Democrats. We know most of the 36% are in the “Blue States,”and am sure some are scattered throughout. We, true Americans that love our country for it’s freedom of speech, religion, education, and the select Americans that are farmers – that produce our food source, etc.
FIND THAT Imperial Wizard; FIND those groups that are for the people like, The Muskeers and/or Robin Hoods that work behind the scene (I know they are in hiding, waiting for that command).
We don't want trumps agenda
This is just another episode of the same soap opera. This BS will go on until the last minute at which point they will have a deal in the 11th hour as they always do. We live in a false economy with counterfeit currencies in every country. The counterfeiters are just going to do business as usual. When they bring in the CBDCs next year, it will streamline the central bank counterfeiting process.
The debt ceiling isn't the issue. It's the government trying to legislate with the purse strings against already passed laws. Neither party should ever do this. If they want to legislate debt, then the time for that is when the law is passed. Beyond that is posturing.
McCarthy is a SNAKE!😡
WHAT is up with those socks kev😧
IF THE WHITE HOUSE`S SALARYS WHERE AT RISK ON JUNE 1ST , THEY WOULD HAVE ALREADY AGREED TO SOMETHING, BUT THEY KNOW THE DISABLED AND SENIORS WILL PAY THE PRICE. AND THEY JUST DON`T CARE.
McCarthy doesn’t deserve his job. I can’t even say what I think on this forum because none of it any good. This whole shenanigans is ludicrous.
I hope they don't raise it. The economy needs a reset instead of kicking the can down the road. You shouldn't be in a situation where you depend on social security to survive. There's so many side hustles to make money.
Biden should agree to reduce spends. McCarthy should know Trump's tax cut worsen the debt.
The president has the power to raise that ceiling by himself, all of this is just to make it seem we need all of these clowns in office.
Asshole-O-Meter: McCarthy is highest Asshole-O-Meter contestant in world history, second to Trump and third to Hitler.
Federal government revenue in the first half of this fiscal year is 36% higher than 4 years ago. That is 1/2 TRILLION$ more. Yellen, Biden, and Democrats might "meltdown" but there is enough money. The spending problem? During the first half of this fiscal year . . . 1.1 TRILLION of unfunded spending and new DEBT added to the American people's lap. The outcome? Inflation and another 44 billion required in interest payments. THE DEMOCRATS ARE RUINING THE COUNTRY. McCarthy et al should agree to nothing until the budget is balanced at the current revenue levels; and that is being very generous.
If there is a default, that is the Democrats CHOICE. Key 2023 annual expenditures: 1.3 T$ for SSA, 1.5 T$ for M/M, less than 0.5 T$ for debt interest. For 5 T$ of annual federal revenue (up more than 50% since 2016) there is enough money for what is needed. The Democrats are evil, the Republicans are inept. The country is doomed, doomed I say!
Current federal annual spending on debt interest is, let's call if 0.5 TRILLION$. Once all the current debt rolls over, the interest payment on, let's say this happens by the end of FY2024 (by which time Biden will have added 8 TRILLION$ total to the debt) and the total debt is 36 TRILLION$ will be ~1.44 TRILLION$ (at 4%). This will be more than the current spend on Social Security and almost as much as on M/M. But what it will do is financially ruin the country. Biden's plan is to do just this. ANYONE who votes to spend more than they have deserves to be put in debtors prison. In this case they won’t be able to pay it back, so they can all die in there.
McCarthy….weak, hypocritical, small minded cheat. Doing NOTHING for working, decent Americans, like all GOP.
Well, neither side better agree to big-money donors receiving 20% tax cut relief instead of paying their 39% towards taxes. Wealthy contributors and donors to these people's campaigns need to pay their share.
the DOD just failed their 5th audit. according to joetato the federal government needs more money to cover the fraud, waste and abuse.
McCarthy is lying. He intends to NOT negotiate anything
Let it go see what happens
If Americans really was bout it. They surround the capital building and hold these crooks hostage until they make a deal. No recesses, no breaks.:
Just pay the bills Joe, ignore the noise. . . . .
If the debt is not paid, and the worlds financial markets plummet blame the REPUBLICANS!!
Only a childless fool would want to burden America's children with such back breaking debt…..childless and "self serving".
Democrats can't extend the default date for the debt, by using the CoVid money that was not spent….. because they spent the CoVid money already
Bill de Blasio's wife ""Chirlane McCray"" cannot explain where $850million given to the mental health program she champions has gone,…..that's how Democrats roll……this is why we are in Debt…Looting 😉
☝️👮♀️👎Impostor McCarty should be arrested. 👎
He is enemy of America and President Joe Biden
He wants the US economy to fake and the rating of US President to fall.
☝️👮♀️👎Drive all our enemies away from you.
Divorce the Nazi she-devil Jill.☠️🐉👹🐊👎
👊👮♀️👎I hate you, dangerous cunning snake Jill.
You are my mother's rival Kulimhan
It would not surprise me if Biden defaults so all the focus will shift away from his crime family. He's likely to burn down the nation to save himself and his family from prison.
Republicans' cut will hurt veterans, seniors, students, low-income families, etc.
We can lower debt by raising tax to richest, but Republicans repudiate.
Under Trump raised the debt 3 times and Democrats passed without demand.
Also, Tru8mp and Republicans gave 2 trillion tax breaks to richest.
What you people do not understand is that this has NEVER happened before! We are driving straight to hell.
Its all stupid and meaningless. Pay bills anyway and screw Congress
So many lies and manufactured crisis!
Not one mention of the usual “continuing resolution”.
Not one mention of quarterly tax revenues.
There’s enough money for Junes SSI and cash assistance!
Stop buying what the talking heads are selling!
America has defaulted! 4 times
Americas credit rating has been lowered!
This is great news for the country. Don't give into the Republicans. Use the 14th amendment and be done with it.
Raise the ceiling and then the debt goes higher with no real solutions on how to keep spending down and to pay any debt off. We will eventually buckle under the weight. Just a matter of time.
McCarthy won the speaker post after numerous (unprecedented) number of votes. McCarthy is not a leader like Nancy Pelosi. McCarthy is a hostage of the insane wing of the Republican Party.
Screw these a-holes. How about this… My wife & I think we might not pay any federal taxes next year. The good news is we've had "productive discussions" about it though. Stay tuned.
Taking the pain now would be better than having a depression when nobody will loan us money. Liars! The Marxists are green power scam artists just like Michael Crichton's book "State of Fear" warned us about.
They start out lying about "Only the super rich are going to lose money." Then they start having to lie about their failing social experiment.
California Utilities propose charging people based on income – and that isn't the super rich, is it? People with higher credit paying PMI insurance for people with low credit is not the super rich either. I can only imagine what kind of justice will be meted upon us by Biden's new "Environmental Justice Department". Will they charge people more money for driving gas burning cars and giving the money to the poor who don't have a car?
Ultimately the US becomes Venezuela. And ask any poor Venezuelan if they are better off. Well actually ask ANY Venezuelan because they are ALL poor now.
While I voted for Biden, I have to say that Trump and the republican party are saints in comparison. We need to raise all ships through hard work and not be running around punching holes in the bigger ships to get everyone even. Trump or that guy from Florida can count on my vote now. Make America Great!
If you aren't wealthy then the Republicans have no need for you. Republicans spend more than Democrats and that is a fact. Wealthy get tax loopholes, corporations get subsidies and that alone costs far more than any Welfare or Social Security program. Stop electing people like this. They care nothing for the average American. Nothing.
Biden surrendered in Afghanistan, and funded the Ukraine territorial dispute with taxpayer money. Biden is addicted to overspending. Biden kept ignoring the problem until the last minute before the deadline. Biden refused to cut spending. Biden refused to even negotiate with Republicans. If Trump is in office, Mexico would be paying for the ceiling !!
Didn't they create a system that needs to create more debt??
Make sure we cut those pension and SS checks for the boomers. To zero. Conservative values end when that check stops coming. You conservatives are monkey Cs. Let’s go to you and your family ya monkey Cs
Raise the debt ceiling now asap! — China 😂