What happens after the US officially hits the debt ceiling? | ABCNL

ABC News’ Elizabeth Schulze and Alexis Christoforous discuss the debt ceiling showdown and the story of how we got here. 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 #debtceiling #congress #biden #yellen #abcnews

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  1. Demorats blame this recession on everything but the real. Look at Biden and Brainless Kamala opening the borders waste more Money on persons that have not contributed to this nation giving them housing , snap ,health Benefits . There are a lot of illigals that are receiving retirement pay ..my neighbor Pepe parents arrived in the United States late in their age and had no problems obtaining social security payments. Without contributing nothing to this country on top of that because they get less they're even receiving snap . Something is wrong in this country . Some investigation should be done

  2. Abuse of Power just happened again. Treason just happened again. Obomination happened again with Hunter BFF with a gun and laptop also with BFF Ukraine's Zelinsky.

  3. With our day we merely suggest or listen to the opinions being mentioned. These are the times inwhich our voices still are not being heard more. Or of our day. You do your day. I will mine. We will see who works together. We know the Gov. Is not working for the people. As we have foretold of such decades of more of the same, we are not for, but against. We intend to remind American's. We The People of the United States Constitution, we will shut down government, when government no longer works for people. It is not in their power to continue to delay, or obstruct or remain the rhetoric we hear. Or to shut down government on our nation and people in such a time we were left as National Security Threat, under Obama, Trump, and Biden. Fight Back Better, and Take It Back Better. We are better than this. How Government plays with our days, and also inflicts threats, carnage and such annihilation. 🌎🚶‍♂️🇺🇸💪🫶

  4. America Strong. America Stronger, America's Strongest. We are Not Done Yet. With this Gov. If Obstructionism, Filibuster hacks, and two party bickerers, tit for tat of Big Rhetoric Lies every time it comes to the people of power. Not the Authoritarian regime. We must remind those people are to be working for our people and nation. Not themselves or their own power hungry greed of a war drum, to Abuse of Power, and many foreign entanglements of Collusion, to Bribery, and Trafficking, and Treason. They went behind our backs and back stabbed us with those Dictators and Martyrs, and left our nation's borders and people under extreme National Security Threats and serious breaches to The we National Security Council again. Along with CIA and more scandalous and corruption. That we need to go tell it on the mountain…and to the Republic For which it Stands, not of Sedition, and not of Cover-ups and inherent contemps once again.

  5. We The People, of our Founding Father's Principles are not up to having more of the same done to US in such times of crisis, crisis, crisis. While plutocrats play tit for tat with our lives and not addressing such concerns in the manner our nation's people see most fit to resolve the problematic issues that are waged against our nation and people of such debt year after year, decades and decades. We are better than this. We can do it ourselves. Let us all send our message loud and clear that We The People want quality vs.quanity Healthcare. To establish such over decades of Immigration Crisis, Refugee Crisis, Climate Crisis, and more unbalanced spending, or spending cuts that are not helping our nation and people to live without for such decades, of what is now a planet in peril, and also State Sponsored Terrorist States, and a Terrorist Nation, with Terrorists Cells, to Several different nations Drug Cartels, or the Gang Drug War, or the War within, of Domestic Terrorism and Gun Violence. Enough is enough. Our nations security has been under siege and such cyber attacks, and hacking. To our grids, and infanstructure. Under a lame duck impeachment administration after administration of not being of our nation's interest more or if the Environment and People more. Fight Back Better, and Take It Back Better. March To o 2024. Grandparents, parents, single parents, and our Freedom Fighters. Our Troops, Families, Vets, and First Responders. Along with our Medical community, staff, Doctor's, Nurses, Educators, Professors , teachers are the people that we are coming to ask our Government, What's Going On? We The People are going to say, I'll Tell You What's Going On. 🌎🚶‍♂️🇺🇸💪🫶

  6. Please everyone google the US debt clock and look in the bottom right-hand corner where it says “unfunded liabilities”. We aren’t actually $31 Trillion in debt as we keep being told. The real number is $181 Trillion and rapidly increasing. The average debt PER CITIZEN is over $540,000, which is just insane. Had the government just given every citizen half a million dollars and left us alone I think we could’ve figured out a way better system

  7. What debts? It’s never ending! It’s perennial!!!
    Raise the ceiling and print more? A Solution?, don’t think likely!
    So, how?? Q.E.D. 😊
    Hold the USD and get along with us. Failing which find ways to Default, Write Off or Start “troubles” somewhere somehow? What you gonna do? We have the world in our hands!

  8. So, why have a debt ceiling at all? God We Trust knows it's never ever getting paid back!!


  10. It's time to cut the governments paychecks to where noone makes over $100,000. Then there will be enough money. You don't cut Medicare and Social Security. They need to stop it with the drama. Americans have had enough of these theatrical, dramatic, and childish arguments. Wasting time arguing over who should and shouldn't have been on commitees.

  11. For 230 years the United States has been acquiring debt, during Mr Trump's 4 years in office, he accrued 25% of the entire national debt. His administration cost us 7.8 trillion the national debt hitting 31.4 trillion this is 25% of all US debt. Most of this debt was accrued before COVID-19 and more than any of the 6 proceeding presidents. The debt ceiling was raised 3 times during Trump's administration. The time to fix this issue is not now but when we set up the new budget. This is to pay existing debts.

  12. Expect tyranny out of this.

  13. Whites rule over the world through US dollars and US can print as much they want and breaking rules of Economics and valuations.

  14. Democracy will end! You are attacking democracy! You're racist! You're sexist! You're a homophobe! You're an insurrectionist!
    Alex, what are phrases that have lost any meaning due to overuse as ad-hominem attacks.

  15. Congress borrows against 120% of what this country produces, then give it to foreign cabals like candy with side deals you know they have.
    The US currency is not a commodity.
    a law thats not enforced.
    the Fed should not be given the power ro devalue peoples savings or SSI . i dont think they have that power. Congres use it to create slush fund out of peoples savings & SSI.
    its illigal to send US dollars out of the country. another law not enforced.
    foreign governments with US Dollars cant demand anything from the US Gov for US dollars they have.
    thats credit towards purchasing US good. another law not enforced.
    the government can only barter the US goods the country produces. another law not enforced.
    Thats the good faith & Credit of the USA.
    They niggered US while enriching thier criminal cabals.

  16. 🙏"The real lord prayer"
    Our Father, who art in heaven………
    forgive us our debts as we forgive our debtors……..

  17. US will never pay back. It is the biggest pyramid ever created

  18. Cut that military spending and tax the elite

  19. Be well aware that the U.S Government raise the debt limit 78 times. And lowered it 5 times.

  20. robbing peter to pay paul and rob paul later

  21. If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.

  22. Any shutdown “will have little, if any, impact on beneficiaries getting their checks,” said Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare.

  23. Denmark has its debt ceiling of $300 trillion dollars. But the nation spend so far $500 billion dollars.

  24. Raising the debt limit is an inherently political issue, and it usually grabs the most attention when government is divided in Washington, because when one party controls Congress and the White House, it usually opts to raise the limit without controversy.

  25. Let me save you some time; they raise it and print more.

  26. When the game is over the US will be the poorest country in the world

  27. Bush II increased the natoins dept by $11,000,000.000,000.65cents

  28. cansel all of it, and start from zero

  29. Global inflation. A food crisis is looming in Africa and the Middle East. Gas costs are at an all-time high. Global currencies are falling, and all institutions expect a recession within a year. Let us not forget about the war. Global supply chains are being disrupted. Fertilizer is in scarce supply. The only thing I can think of to aggravate the situation is extreme weather conditions resulting in draughts and floods, then we're in for a once-in-a-lifetime ride to depression. With inflation currently at around 9%, my biggest issue is how to maximize my $300,000 savings/retirement money, which has been lying idle for years with nil to no growth.

    Whoever repents of all his sins (turns from sins) and calls on the Name of the LORD, will be saved! He who died on a cross for the sins of the world, rose from the dead on the third day, and by His blood, whoever repents and believes, has full redemption of sins and eternal life!
    Today is the day of your salvation, repent and confess Jesus now as your Lord and be saved, because you broke the law but He paid your fine with His life's blood!

    For those with understanding: Matthew 24:40-41 will take place very soon, this is the sixth seal! This is the generation of the harpazo, rapture, and behold you will witness the trumpet blast that will make the sky recede as a scroll being rolled up! Therefore, be ready and be the five wise virgins, do not be the five foolish virgins! (Parable of the Ten Virgins.)

  31. ok so no returns … but i think the whole government should work for free … at least all the people who work in the white house …

  32. Ladies and Gentlemen..
    People of America..
    We Have a Crisis..
    No More Chessburgers..

  33. No give Israel more billions and Ukraine that might help 😉

  34. America is about to default it cant pay it back and china will sell the bonds then the daller is dead

  35. Fictitious money equals Fictitious debt.


  37. Nothing will happen because they are a lot of BILLIONS OVER there in our government they're putting our money in their pockets to destroy our country and Americans citizens

  38. Congress (Democrats mainly, some Republicans) will raise it to 35 Trillion, and then spend more to make 37.85 Trillion in a endless cycle.

  39. Don't panic, it will be raised as usual. Just a bargaining tool for opposite party, there are no real limit.