Why the U.S. Debt-Ceiling Deal Could Have Trouble in Congress | WSJ
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- Опубліковано 27 тра 2023
- President Joe Biden and House Speaker Kevin McCarthy reached an agreement to raise the debt ceiling. WSJ’s David Harrison breaks down what to know about the deal and its path through Congress.
Debts is often the result of external factors, and it appears that the United States is losing its grip as a federal reserve currency. With a decreasing ability to control inflation and a reduction in stocks and oil trading, it seems that a new multilateral world order is on the horizon.
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The country is not stronger. More in debt and going deeper. 😢
Here to point out absolute value of debt shouldn't and doesn't matter. What matters is the ratio of debt to GDP or government income.
Even in people, a 100k USD debt for a minimum wage worker vs an aeronautical engineer have different impacts. If you account for inflation and GDP growth, 4-6% annual expansion in the absolute value of the debt is not bad.
Know how much the US is in the red? CHINA is in the black, by about the same amount…
Stop Biden blank check spending now. not next two years.
@@judy.mckillip Roughly 60% of all US debt was approved by Republican presidents. You can independently verify these numbers yourself.
Any rational informed person would blame Republicans.
CONGRESS SHOULD LIVE LIKE THE REAL FOLKS OF THIS COUNTRY! LIVE ON $7.25 AN HOUR. SIGN UP FOR MEDICAID AND FIND A DOCTOR THAT WILL TAKE A MEDICAID PATIENT! IT'S A SHAME THAT WE LIVE IN ONE OF THE WEALTHIEST COUNTRIES IN THE WORLD AND WE HAVE PEOPLE WHO DON'T HAVE ENOUGH TO EAT AND NO MEDICAL CARE!
Why are you living on 7.25? Even blue collars don’t earn only that much and they are the ones who need Medicaid
I would think they would be real easy to manipulate if that were the case.
They act like they are from another planet.
Or on the streets.
Preach😢
Congress should be REQUIRED to have a basic economic class before serving..
They should pass laws and not run the country. A budget would be fantastic 👌
So should the democrat voter base. every time they cast a vote prices go up.
We can already enforce that by voting for qualified candidates not just those who offer more free stuff
Congress understands economics, it's called rich ppl economics, thats different from pleb economics
Vote for people who do
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $400k portfolio is down by approximately 20 %, any recommendations to scale up my ROI before retirement will be highly appreciated.
@Leo wright I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
@Leo wright Annette Lenore Hill really-seems to know her stuff. I found her website after looking her up and reading through her rÊsumë, educational background, and qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her.
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(Personally I hedge everything then close out my hedges once I see strong movement. It did feel at first that I was giving up on potential profits but the worst case scenario for me is always breaking even so I can never lose.)
@@victory725 hope that helps
DO WHAT'S RIGHT FOR THE CITIZENS OF THIS COUNTRY! POLITICS ASIDE THIS AFFECTS REAL PEOPLE!
Amen to that statement.😢😢
Exactly. I don’t like republicans, but politics outside. We need to do what’s best for the citizens.
@@theo_solo exactly
They care about regular folks and never will.
I wish I could just raise my debt ceiling instead of paying it off
Debt ceiling has nothing to do with paying off the debt;
@@davidtaliaferro but it has everything to do with getting more debt.. solution to credit card debt? Raise your credit limit 🤣
So like.. do I get a credit limit increase? Preferably a small loan of a million dollars with no interest?
Do you have a credit card
If they want to balance spending they should have by taking away the nice fat raise they gave themselves. No they are going to take food an medical from the needy. How does the gop sleep at night.
In great luxury, that’s certain.
Vote Blue 💙🔵💙🔵
and then they have enough nerve to act like they are the religious party.
@donaldrayprine5153 We did, and the spineless dems just let the gop walk all over them. It's almost like they don't actually want to change anything..
@@donaldrayprine5153 people voting blue is why we're screwed idiot.
Work requirements for Senators.
I’m sorry sir that’s the air conditioner not a work environment 😂
Touche.
THIS COMMENT 👏👏👏👏👏👏
Totally!!!
Sobriety and random drug screening.
Wow, are they really going to wait until 2 hours before the deadline to approve it for dramatic effect? 😂
They will just extend the deadline. Ukraine needs money.
@@thecrazylooser7 Ukraine is getting peanuts compared to the handouts to the 1% We made a promise and we’re honoring it that’s what honest people do
@@Justmekpc the 1% aren’t getting handouts, they’re the ones footing the tax bill in the first place
UNFORTUNATELY, There won't be enough votes to stop it.
their motivation is very low.
We all try to believe that the President and Congress are sometimes competent. This is not the land of make-believe. The debt ceiling itself is however make-believe.
yeah trying to give out everything away for free = socialism. I come from a socialistic country, if you do that, people loose the value of what's being given. It doesn't work
Biden isnt competent ever
Or something just saying.😮😅😊😮😅😊
Peace, lovely Peace! 🕊️✌️🧘🏼♂️
And, most importantly, Quiet
- from the gross Liars.🤥💈🦚
Let’s not forget congress had to vote twice to pass TARP back in 2008 and we was already in the middle of a financial crisis. I feel like this won’t be any different from then
This topic is so tiring to the masses, most of us know it's theatre.
“Can’t tax the rich. Time to cull more poor people!!!” - US Gov
or you're naive....there's that
Hopefully, soon the party will be over, and I pray we will be able to call it another day.
Germany just went into recession, the UK is headed towards financial collapse... the US should get smart now, this week and make cuts so we too don't go deeper into trouble
This is going to be Great Depression part 2
We raised the debt ceiling 80s times and we're one of the few countries on earth that have this idiotic policy we have In place.
Germany handed the keys to their energy policy to a hostile state while UK left the biggest trade bloc in the world. Deficit spending/debt was not the cause of any of their current major problems.
Why are they crying so much about people having to go back to work? How long are working people supposed to take care of people that arent really in need. We cant afford it. If a family member came to stay with you and was playing xbox and not working, how long would you hold off before they gotta make some moves? Now imagine....millions of people like that! Time to get serious.
Congress needs to put their heads together and fix the issue instead of continuing to raise the debt ceiling.
You are very confused about what's actually happening, and how this procedure works
@@donaldrayprine5153 Like you know it all. You must be a teenager lol.
The issue is rampant spending from a massive goverment growing like a tumor on the body politic. There is zero chance of democrats doing the right thing ever and almost zero chance it the republicans doing the right thing.
@@donaldrayprine5153 Well perhaps you'd enlighten us with your wisdom all knowing, instead of trolling the comments. It's not rocket science. I'm talking about is fixing the excessive spending to stay on budget & stop the spiraling debt accumulation. It's not that difficult to understand; but I'm sorry that you seem to be confused by it.
The only way to fix the budget is to *significantly* cut medicare, social security, and defense; and/or *significantly* increase taxes on the middle class. None of that is popular with either side, so it's not going to happen until there's a crisis. Both sides talk about little things like work requirements or wealth taxes, but those are tiny drops in the bucket: you have to touch the third-rail issues.
Spending is not curbed for next year; it's simply the same amount as this year. So the debt rises to $34 trillion next year and to $36 trillion in 2025. All of our lifestyles will suffer worse and worse as the debt keeps rising. It's best this bill is shot down and not passed
Trump tax cuts continue. Child tax credits don't. Food support restricted. Subsidies for the military contractors increase.
WV pipeline approved. Appalachia and its residents are sacrificed.
During the lockdowns, supposedly high unemployment caused inflation.
Once everyone went back to work, low unemployment caused inflation.
So, the Fed raises interest rates to kill jobs. And remote jobs are outsourced to India. And kids are working in the slaughterhouses and McDonalds.
But Americans need to work more in order to qualify for health insurance and food support.
But corporate greed is not a problem, while they make billions more in profits than previous years.
Military Industrial Complex is not a problem when the Pentagon cannot account for trillions of dollars.
Nondefense spending is capped, which is effectively cut because of inflation. In real dollars, nondefense spending will be cut. Also, if this bill is not passed, the US will default, leading to a recession.
@@Johan-bi2xv We're heading for a very bad recession anyway; best to lower the debt; not to raise it another $4 trillion. It will be $36 Trillion in 2025
@@Johan-bi2xvChanging the definition of a recession doesn't make it so. We've been in a recession, bud.
😂after the debt ceiling agreement is done then they will hit the ceiling after. It would become a debt trap with no ending in sight!!😢😢
Sort of, it’s more nuanced than that.
eventually Biden leaves... he is the spending nightmare. He's a drunk sailor. Anyone, literally anyone will do a better fiscal job after Joe is gone
@DimebagVision ^^👆👆👆^^
*THIS*
No one is talking about the fact that this bill ends the student loan moritorium.....telling tbh
TIME TO TAKE OUR NATION BACK NOW OR LOSE IT ❤
Keep America great forever, my liberal friend
Vote BLUE to take our nation back from MAGA crazies!!!!
@@truthmatters9594 socialism causes autism. FACT.
Democrats are spineless, vote them in and they do nothing
I'm voting Trump
Let's not even kid ourselves, they're just gonna raise it and kick the can down the road even more.
Well it’s because the national debt isn’t a problem. Think about it, who buys US debt? Surplus trading nations like China, Japan, Saudi, and the Fed. How do they get their dollars? Through trade with the US. Because there is a global demand for dollars, the Fed can increase money supply by buying treasury.
So yeah, there’s national debt, but it’s not a problem. It’s inherit to any country that has a world currency reserve. The national debt is the vehicle that injects money into the economy.
@@Pyrrhic. You cannot increase it forever, because it's like snowball. The interest payments will demand more and more.
And have you heard of dedollarization? I believe, some countries just started to trade with each other in other currencies
@@DungeonMarshal dedollarization is overblown. Money supply expansion on the euro and yuan have outpaced USD supply growth. Everything they say is bad about the dollar is worst for every other currency. Especially the Yuan.
I’m not saying we should run up the national debt, I’m just saying that it’s overblown. When republicans control both congress and the White House, they never talk about the debt even though they run it high. And it’s because it’s not a problem.
@@Pyrrhic. Okay. The future will show
@@Pyrrhic. wow you sound very dumb. You don't see the problem in the United States owing a communist nation trillions of dollars?
As usual the rich get richer the poor get poorer.
You ever invest in inverse of market? Rich folks are rich for a reason. I hate that BS. You know you could change your mindset about money? Your whole relationship. One thing you need to know is money is not to spend on evergthing, it is to make more money with. Fuel for a wealth engine, you spend money earned investing origiginal money or even better, make more with it. Get yourself a retail trading account. Webull is a good one cause you can practice paper trading, imaginary money.
You could have taken pandemic money then was so easy and doubled or trippled it. Soon as Biden came market started dropping i mean right off. But... rich folks who have been through cycles understand both bull and bear cycles. So... you can complain... or educate yourself. New bing chat you can say explain to me like 5th grader so is no excuse at all. I mean none. Get yours too.
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Spend the people's money for WAR and later ask where the money are
It would take $250,000 per person just to get rid of our debt.... It's mind-boggling
This better pass. If we default I will hold both sides equally guilty. Our government is failing the United States big time.
I hope we default. No more money for dem .
One side decided to unilaterally hold something hostage which shouldn't be held hostage (and made this possible by repealing Gephardt rule in 1995 which automatically raised the debt ceiling according to budgets passed).
I think the government need a financial advisor.
Lord, You have the inside scoop. There is nothing hidden from you...❤️🙏🇺🇸
Amen.
Amen.
Amen and Amen🙏🙏🙏
It has got to default or same thing will keep happening it is just a show every time
You can't keep spending money we don't got
So much dishonesty in today, as a Christian I believe in God which states where we came from and how we are to live and when serving Christ it’s easy to recognize right from wrong and truth I guess it’s called the armor of God
Raising debt is a temporary solution. The bubble is getting bigger and bigger. Stop spending for other countries and illegals.
We need a vote of no confidence in the house
REALLY thats the spending cut, making it require more paperwork for people on foodstamps?
C-SPAN WASHINGTON JOURNAL DEMOCRAT OPERATIVES RIGGED CALLS 😂😂😂😂😂😂😂😂😂😂
What year won’t the US be able to pay it’s debt interest? Gotta be getting close at $33 trillion!
JD
Can I get multiple entries for AMZK22 or limited?
Don't BS. The Theatre will end with both sides benefiting from not cutting the defence budget; the sinkhole and the cause if the huge US debt.
We need lower smaller government role in the economy, let free market take it's true role
Republicans need to vote no Kevin told the American people he wasn't going to raise the debt ceiling . Cause Democrats already MAX OUT THERE CREDIT CARD.😡😡😡😡.
The USA 🇺🇲 Government spends more than it makes.
Most countries do but America does it bigger!
This won't make anyone happy.
False.
@@bobheck8326 it will make morons happy
Somebody on the left always has to complain why..😮😅😊😢😮😅😊😢😮😅😊😢😮😅😊
Cause they suck huevos.
US crimes - May + interesting information at the end))
May 1970 - Invasion of Cambodia results in 13,000 killed and captured by US troops.
May 10, 1801 - June 10, 1805 The First Barbary War (Tripolitan War) - English pirates (created by the British crown to control the strait) who sailed in the Mediterranean under Ottoman flags stopped receiving money from the United States (previously England controlled them, and since the United States was a colony of England, goods passed for free) for the use of the strait. The United States had to pay for the use of the strait, but the US authorities found it expensive to pay and, having built a fleet, decided to start a war.
May 12, 1992 - War in Bosnia and Herzegovina, the pretext was that the United States trained militants of the Croatian Republic of Herzeg-Bosna to carry out ethnic cleansing in the Lasva Valley, eventually blaming the leadership of the Croatian Republic of Herzeg-Bosna. The so-called BBC media came up with terrible fakes about Bosnian "sex camps" that no one verified, and the proof was the confession of one Bosnian officer.
May 1899 Second Civil War in Samoa - A year earlier, the US staged a coup d'état in the islands, and then US Secretary of State John Hay proposed that Britain and Germany send a tripartite commission to the islands. Arriving in Apia, this commission eliminated the royal power in Samoa and divided the islands between the United States and Germany.
On May 27, 1910, U.S. Marine Corps Major Smedley Butler landed in Nicaragua at the head of 250 Marines, and U.S. Secretary of State Philander Knox denounced José Celaya and supported Estrada. In fact, he carried out a coup d'état.
May 13, 1916 - The Americans, on the pretext of defending themselves against Germany and restoring order, invaded the Dominican Republic. Rear Admiral William Caperton forced Desiderio Arias to leave Santo Domingo by threatening to bombard the city. Since November 1916, the country has been under the control of the US armed forces. The war crimes of the US troops at that time are still classified as secret.
Well, we are waiting for 2023 - 2024 - a gift from the Yellowstone Caldera. Zombie Joe finally go to his voters who voted in the elections even though they were in the graves)). A corruption scandal will also be revealed, money laundering by the US authorities and military corporations in the war in Ukraine, as well as evidence of a conspiracy between the UK and the US to set Ukraine against Russia. War against Mexico or Mexican migrants. The rise of black racism and the number of racial crimes against whites and Asians. The beginnings of the American Civil War. It makes no sense to repeat about the default)) Well, we prepared popcorn and enjoy))))!!!
McCarthy is failing the Republicans . Maybe it's time to rethink new party 😅
Why? Because he didn't agree to take Medicaid from the mentally ill......in a country where they are allowed to buy firearms willy nilly? Say it ain't so!
And if you've been voting for Republicans then thinking is something you neglect.
It doesn't matter who you vote for. This is all a show. It's a game and they're all on the same side. They need us to be divided. They don't want us to unite. Stop falling for it.
No. He doesn’t control the Senate. Did you forget the bill passed by the House to control spending. Do you know where it went? The Senate threw it in the trash without even voting for or against it. McCarthy is not a dictator. He can’t do the impossible. Anyone who thinks that if we just sit back and dig in is nuts. Democrats hold all the cards. They have got the news media to support them. They have already threatened seniors with no SS payments, no Medicare. They have also threatened vets and people on Medicaid. This is the news media who is doing this. The only hope is voting in Republicans and then watch them like hawks and make sure they do their job. Have you lived here? Who do you think is ruining the fish industry with windmills in the Atlantic Ocean? Your wonderful democrats. Who do you think is supporting lawlessness and not law and order? Your wonderful democrats. Who do you think is responsible for food prices going up? Your wonderful democrats. They support abortion at 9months. Which isn’t really abortion but baby killing. They made sure gas went up, are pushing for electric cars, shutting down fossil fuels to supply electricity so they can control electric use. Did you know in Cuba you only have electric a certain number of hours in a day? You are going to have that here. Don’t blame McCarthy! Republicans should have cleaned up elections but didn’t bother. I will vote republican but don’t think there is a chance for a Republican to win in 2024. Here in PA Casey has no chance of losing. If I were controlling the funds, I would concentrate elsewhere. Here in PA there is no chance for Republicans. Any state that would vote for Fetterman is a lost cause.
@DimebagVision it's not fake news and you know it. I don't know what good a new party would do. Although I'm all for it because I have hope it'll make a difference. But getting that new party accepted is the hard part.
Its okay , your grandchildren will pay all the bills 😂😂
.. pay all of Trumps bills... TFTFY
I miss Pelosi. Mcarthy clearly has NO IDEA what he is doing🤦
Dog & pony show. Let it fail. We don't need half of what we're paying for and would operate more efficiently on a third of the gov't anyhow.
Imo cut military spending at a minimum.
Oh wait, we’re literally paying to keep Ukraine functioning…
1:20 "Democrats got, that Republicans didn't get everything they wanted"
wow
Excellent video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
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Kicking the can down the road is not achievement.
Pointless distraction from the REAL problem....
Walmart and CVS close across the USA. Both parties are at fault.
It’s good for the people that ride the system by making them work. No more free rides!
Says the guy getting Social Security
@@paillette2010 Says the person who has no idea about my work life. That probably free loads off the government with five babies daddies.
Only free rides for the yacht owners and private jet owners and military contractors and shareholders and inside traders.
The rest of us peasants will have to pull ourselves up by the bootstraps that the wealthy have stolen from us.
Let's hope it passes, if it doesn't me and my family will be homeless
Same.
Your not alone
Elect Democrat's and cost of living explodes, vote for 4 more years if you think society has improved in last 3 years
One of the nice things is that most of these Republicans will all be in the same place in the summer of 2024 in Wis.
Hope there are enough body bags.
WSJ employees want to end the federal government.
"...dept ceiling has to be in the most lowest "categoria" so that any land wouldn't have money to fight in the war
More self inflicted problems from people more interested in playing theater for their constituents than serving their country. And the audience on either side drinks it right up.
Y'all should be ashamed of yourselves. What happened to being an American instead of a partisan?
We've been talking about it this debt ceiling since a decade+ and yet American economy is doing fine.
Are you dumb? The American economy is in the toilet, we are not doing fine. The price of everything has skyrocketed since Biden took over. They're quite literally talking about the government running out of money right now and you think we're doing fine?
A Republican who understands the concept of compromise...? What is this madness ha
No McCarthy the people demand to see ever word written cto the last word in it
Time to remove the RINO Kevin McCarthy as speaker of the house. That was the agreement with the GOP. If Kevin McCarthy effed up they can remove him and replace him with somebody else. They should standby this agreement.
Republicans voted to cancel the 87K IRS agents back In January to only cave during the debt ceiling negotiations. Speaker McCarthy negotiated to cut $1.7Billion from the $80Billion IRS bill. Completely DISGUSTING!! Pray the house republicans block this bill.
Ya they take food and health away from the poor while they all live like kings and queens..vacations .cortillions...parties ..eat in the best restaurants and tell the slaves ..to eat chefboyardee!!!
Disgusting. The uniparty doing qhat the uniparty does best. Enslave the working class and steal their taxes.
The freedom caucus better not screw this up with their craziness
He coughed like if something is wrong. Maybe he's trying to hide something. No president should do that I think. He's lying.
في بداية الثمانينيات من القرن الماضي أوقف أحد ضباط الشرطة هشام موسى داوود الحسيني والذي هو نفسه هشام بن الحسين في ميدان تريومف بمصر الجديدة وكان يضع الكاب العسكري للرئيس الراحل محمد أنور السادات في سيارته وسأله من أين لك بهذا الكاب فأخرج هشام بن الحسين مسدس وأطلق النار على رأس الضابط فالقاه قتيلا واتضح أن المسدس هو خاص بالملك حسين فتم فبركة القضية بعد عدة سنوات ثم تم دفع تعويض نقدي ضخم جدا إلى أسرة الضابط بعد أن فشلوا في رد حقوق الضابط
If we reduce the population we can solve the debt crisis
The US citizen should view this deal the same way Winston Churchill did Dunkirk: “unmitigated defeat”
It makes sense that Mcarthy wants to raise the debt ceiling even higher he'll get rich out of broke folks
It’s all about votes. Spending money creates votes. So the controlling party in congress wants to increase the limit. The other side tries to stop it
It's not a deal, it's rino bs. Mccarthy will be removed.
There is very little money in the negotiations for our defense budget if we don’t to better for our defense budget we are all doomed anyway
"Very little money"? The military budget was increased to $886 billion. Meanwhile, the Department of Defense is the only government agency to never pass an audit.
People and media really addicted to trouble and fear these days ,(and conflict ).
Imagine we get this deal but it doesn’t get through Congress and we default anyways lololol
Since debt ceiling ss,ssdi ssa will not raise every year?
they went from 1.7 for 1 year debt ceiling increase to 4 trillion for 2 years. how does that bring down our debt ? sounds like future runaway inflation
Bro 30 trillion is a lot, and nobody will repay it i'm 100% sure, employment is high because companies right now offer bigger checks.
Once repaying mode starts, noone will promise you 12% salary increase yearly and younger people will default to `unemployment and travelling` which is bad.
Also if we abstract the financial bs from economists and think for a second, how is an economy functioning when its 30 TRILLION in debt
This guy McCarthy folded like a cheap suit which he is
Default? Never happened before. How do we know what will happen?
I'm for the work requirements
The US is the beacon for democracy. Surely American politicians won't jeopardize the world economy just for personal political gains. Americans are always virtuous. Just remember Iraq!
I can assure you the USA is most certainly NOT the beacon for democracy, especially after the sh!tshow that was January 6th! Even North Korean was peeing it's pants laughing at that!
look at Europe, they are more likely to be jepoardizing world economies than the US. Germany and the UK Are failing hard
"won't jeopardize the world economy"maga trump insurrectionist republicklan party of traitors and terrorist criminal organization where TOLD TO DO IT AND THEY WILL.
That used to be the case...
It don't got a lot of work to do passed the f. King bills
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank ❤
I heard it was a 2 year deal
Thumbs down on this first draft 👎
Stop spending Trillions more per year than you take in.
The solution is to take in more. The Trump & Bush tax cuts have cost $10 trillion and are responsible for 57% of the increase in the debt ratio since 2001. In other words, a majority of the debt problem is a result of the Trump/Bush tax cuts.
It's funny to pay a debt, govt takes more debt (aka turn on the dusty printer). To solve a problem, create another one. Good job!
If the US ran out of money, the inflation would go down right ?
$35 Trillion in debt...
25% thanks to Trump!! Vote Blue💙💙💙💙
Cutting van start from Congress salary first
Where is the student loan issues
What's going to change if all diversify in AMZK22
Sounds like compromise
McCapitulator McCarthy better go hard against the dems if he is going to lead the house
what's the end game? Raising the Debt ceiling is a temporary and short term solution but it's not a sustainable solution. At some point the world would look beyond DOLLAR!
Sell off more assets to the Chinese. Farmland, National Parks and Forests, Ports. Thats what Zambia Mongolia Kenya etc. have done. In those Countries though the assets were placed in escrow so they had to sell. We can just default.
Why doesn't the media report how good this bill is instead of negative things democrats didn't get
Let's hope it fails to pass. Biden still holds an ace card - the 14th amendment. He could throw away all the deals made in negotiations and get exactly what he asked for from the beginning.
This cat and mouse game has to stop.
All that bunch of pretenders just kicked the can further along instead of really reduce tgeir idiotic spending!
the dems and the republicans really are all the same