‘The Five’ co-host Jessica Tarlov and former New York congressman Lee Zeldin break down debt limit talks on ‘WSJ at Large.’
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I was close to live on the street and the website saved me Maskoffaid I appreciate your helped so much
I was close to live on the street and the website saved me Maskoffaid I appreciate your helped so much
Dr. PhD blowing off their mouth again……. Sheeeesh……
Congress and senate are career politicians. The president is only 4 to 8 years. Who’s allowing spending (Covid) 1.7 trillion where’s is that money? Where’s the money.
THAT 31.7 + TRILLION debt, DOES NOT CARE ABOUT REPUBLICANS / DEMOCRATS = ALL IT SEES, IS '' WE, THE PEOPLE OF THE USA……'''. BEING DIVIDED, and bickering like infantile children, delaying THE INEVITABLE, JUST PROLONGS YOUR PAYBACK ? plan ? ……? YOU ALL HAD BETTER UNITE, TO PAY IT OFF…….but, probably WON'T HAPPEN .
HERE IS SOME F O C U S ….on those extremely LARGE NUMBERS !
IT WOULD TAKE 1 MILLION DAYS, OR APPROXIMATELY 2,740 YEARS, TO SPEND A TRILLION DOLLARS AT A RATE OF 1 MILLION DOLLARS PER DAY. 31 + TIMES…….. ! ! !
31 trillion dollars. BREAKDOWN. Say there is 333,000,000 million US citizens. 31,000,000,000,000 trillion dollars divided by 333,000,000 million = 93,093 dollars each. IF EACH PERSON, SPENT THIS AMOUNT OF MONEY, EVERY DAY…….. THIS, WOULD REQUIRE 333,000,333 D A Y S. This, equates to 911,705 Y E A R S. !
THERE IS NO W A Y on GODS' FORMER green EARTH, THAT WILL BE PAID !
Like many Americans, the federal government is shelling out a lot more money to cover interest payments on its debt after a series of Federal Reserve rate hikes over the past year.
The Treasury Department paid a record $213 billion in interest payments on the national debt in the last quarter of 2022, up $63 billion from the same period a year earlier.
The fourth-quarter tab was also nearly $30 billion more than in the prior quarter, which is the largest quarterly increase on record, said Jerry Dwyer, an economics professor emeritus at Clemson University.
Borrowing costs are expected to become an increasingly heavy burden in coming years. The Congressional Budget Office is set to provide its latest estimate on Wednesday.
The surge is due mainly to the Federal Reserve raising interest rates by 4.25% between March and December. The central bank increased the rate another quarter point in February.
Until recently, it cost the federal government very little to issue debt to finance its operations.
“It was almost free money,” Dwyer said. “You could borrow a trillion dollars, and if you financed it with Treasury bills, you paid almost no interest. But interest rates weren’t going to stay there forever.”
The national debt is once again in the spotlight now that the US has hit its $31.4 trillion debt ceiling, forcing Congress to take action or risk a catastrophic default. The Treasury Department is taking extraordinary measures to allow the government to continue paying its bills in full and on time, which it expects to last at least until early June.
The spike in interest payments also contributed to the federal government hitting the debt ceiling that much faster. And it adds to the pressure on Congress to raise taxes, cut spending or allow the government to borrow more to meet all its obligations.
more like a shakedown…
THEY WILL NEVER PASS ANOTHER BUDGET.
America as you know it has already died.
Radical Democrats want everyone on welfare so they can control their lives
Looks like a default is going to hurt the wealthy, so bootlickers are scared
Republicans are hellbent on destroying the economy- I never vote for another republican as long as I live !
THE MAN WHO THINKS HES KING AKA JOE BIDEN AND LIBERAL DEMS ARE INTENDING TO BREAK THE COUNTRY THIS MIGHT BE HOW HE PLANS TO SEIZE THE BANKS AND OUR MONEY
Dems have had over TEN years through Obama and now Biden.
Wake up people. Can’t blame the orange man forever
Let's not overcomplicate this
Republicans passed a 2 trillion tax break for billionaires and corporations.
And now they are refusing to pay for it.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $260k in months. You have to seek for help in the right places.
Current US debt is $38,000,000,000,000 ($7 trillion to foreign countries).
When US raises debt limit, it goes and borrows more.
To entice lenders, US has to pay interest (currently 4.3% for 1 yr bonds).
As Ray Dalio explains, the problem is we spend more than we earn.
Work requirements for welfare just means single moms will be flipping burgers while their kids are raised by TV and social media. Bad deal for everyone except business.