@@brettnelson7518 for some context this is the video I was talking about
@CharlesBWillz
Жыл бұрын
Life is a weird, beautiful experience when you step back and look at it. Grateful to be here with you all, Working with a financial expert could truly set you up for life. I'm delighted I was able to contact my coach Rodger Michael Karl earlier this year because while others were busy whining about the downturn I was busy cashing out from my portfolio, finally making over 370k only for the first quarter. of the year.
@Windarti30
Жыл бұрын
Needed to see this today. Struggling with Finances for months now after my divorce, I just discovered his outstanding resume when I searched for his name on Google. I count it a blessing that I came across this comment section....
@slightlyirradiatedmuffin3257
Жыл бұрын
This thread is a crypto scam run by bots, ignore it
@boondoggle4820
Жыл бұрын
It’s important to remember that the debt ceiling is an arbitrary number set by politicians, and that any default at this point is entirely elective and a political decision, making it all the more ridiculous.
@Geitir
Жыл бұрын
It’s not arbitrary though. It is literally equivalent to credit card debt. The conservative mindset is that they are not going to agree to increase the debit limit unless a plan to begin to reduce the debt is put in place, so they are holding out for these concessions.
@boondoggle4820
Жыл бұрын
@@Geitir It is arbitrary. The number is picked by politicians based on whatever they feel like picking and they just pick a number. When the GOP was discussing different numbers in their last bill they were debating the politics of a round number vs one that ended in 69 which they didn’t want to do because of the insinuation, etc. That’s the kind of process they use to arrive at this number. To use your credit card analogy, it’s like the bank issues a credit card with a $20,000 limit, you declare that your personal limit is $1,000, and you decide to default because you spend $1,500 because it’s over the personal limit that you chose to set which the bank was not party to. You will be in default because of your personal decision which had nothing to do with the bank, your credit will be wrecked, your interest rate will skyrocket, and the bank could actually impose a much lower limit because of your elective default or it could cancel your card altogether. There’s nothing responsible about choosing to default on the debt to make a political point.
@atishayritulpatwa7235
Жыл бұрын
@@boondoggle4820 It is responsible to use that default as a leverage against stupid spending that caused the debt crisis in the first place, if the democracts had not been so stupid in their spending then the celiing would have not been hit.
@davidardjevanidze8406
Жыл бұрын
Ya so if i call my bank and tell them i cant pay off my credit card and just let me borrow more they will be cool with it?
@boondoggle4820
Жыл бұрын
@@davidardjevanidze8406 They would likely cancel your card, close your account, and sue you if you did that. The better question is why would you do that, and why would you elect to default when you can elect to pay what you promised and not have that happen?
@anadepina2696
Жыл бұрын
Maybe only competent people should be elected to Congress. This is the job of Congress, not the president’s or any other branch. Put the blame where it belongs.
@robertwheeler5125
Жыл бұрын
On trump and his maga robots.
@edwinarnold4865
Жыл бұрын
@@robertwheeler5125 no it's squarely on biden and the woke fascist snowflake shoulders
@edwinarnold4865
Жыл бұрын
By the way it requires the president signature to be put into law.
@tioswift3676
Жыл бұрын
@@robertwheeler5125 I laugh every time you lemmings keep blaming and pointing fingers
@royblack7305
Жыл бұрын
@@tioswift3676 isn't that the maga trash way ?
@cat-.-
Жыл бұрын
Tax code = Congress telling you you can have this much money Budget = Congress telling you you must spend this much money Debt ceiling = Congress telling you you can't borrow money to make up the difference
@dormilon36
Жыл бұрын
Huh? Then tax code is failing miserably unless “this much money” = $200B
@michaelvoelkl4015
Жыл бұрын
It’s not all of congress! It’s the radical MAGAts in the house! Let’s put the blame where it goes! On the treacherous traitorous treasonous trumpets puppets and the MAGAts in congress!
@Cloud9ner412
Жыл бұрын
Balance
@d.a.n.3086
Жыл бұрын
Not that easy smh
@tiefblau2780
Жыл бұрын
What better to *spend* *to* *Marry* *also* *the* *thing* *you* *Marry* *ALSO* *SPENDS...* *TADAAAAAA* it comes with Debt/Degree *Also* *Refuse* *to* *work* What better way to keep spending while also giving low wages and shuffling Amazon Employee?
@stevenz995
Жыл бұрын
I wonder if fed has enabled overdraft option. They could just charge a overdraft fee lol
@phil20_20
Жыл бұрын
How about overdraft protection? 🤗🤑
@Martinzz932
Жыл бұрын
Good idea!😂
@chuckxu5910
Жыл бұрын
Y’all want to make America looking like Venezuela 🇻🇪, that’s not going to happen my liberal friends
@social3ngin33rin
Жыл бұрын
Banks would charge the tax payers, collectively, $11T for their fee lol
@gerlandkent6377
Жыл бұрын
If, it works go for it
@drmode
Жыл бұрын
He should. GOP raised debt without cuts during Trump and both Bushes
@24killsequalMOAB
Жыл бұрын
The difference is that the DNC raises the debt limit without considering the fundamental currency of the Economy, Energy.
@deeinfl5600
Жыл бұрын
Trump had to deal with Speaker Pelosi for the 3rd debt ceiling increase. She held it hostage until she was able to get spending increases. George W. Bush had to deal with a divided government the first 2 years in office. GOP controlled the House but Dems controlled the Senate. Then in Bush’s second term the House throughout gained control for the last 2 years and he had a divided government. GOP wasn’t in the bargaining seat for much of the time. When they were no one in Congress was questioning spending or asking for cuts since we were in the Afghanistan War and Iraq War. Military spending had to drastically increase.
@GermanShepherdDaphne
Жыл бұрын
Plus Trump did under a pandemic. Not just because he was taking taxes unlike this person in office
@9753flyer
Жыл бұрын
@@24killsequalMOAB Bullkakka... the Bush and dRumpf tax cuts are the reason the Debt is where it is. The economy is taking a hit because of this fight, due to the uncertainty it creates. Removing the Debt ceiling and honoring the US debt shows stability and is healthier for the economy, both ours and the worlds. Every Democratic administration since Carter has lowered the Deficit, which would have then lowered the debt if the Republican administrations, ALL OF THEM, had not acted like children with an unlimited CC. Just like they are doing now, since they are refusing to pay for the meal THEY ORDERED when they authorized the spending in the first place. I have zero problem with negotiating a better, lower budget, but you do that BEFORE you order the meal, eat the meal, enjoy the meal... not after like the Republicans always try to do. BTW - if it's all the DNC's fault.. why did the Republicans vote to raise the debt ceiling 3 times under dRumpf??? You know, the guy who is responsible for 80% of the debt???
@nsgate2412
Жыл бұрын
@@24killsequalMOABElaborate???
@statesoftheunited7049
Жыл бұрын
"If money means nothing it will be chaos" Money meaning something has brought chaos too....
@stevenm3914
Жыл бұрын
The government needs to cut back on spending.
@contactkeithstack
Жыл бұрын
Yes, but this is not how you do it.
@flyingdragoncar4975
Жыл бұрын
nah , no it doesn't.
@jordanrosenberg9816
Жыл бұрын
@@flyingdragoncar4975 Typical lemming who wants to bankrupt the grandchildren of this nation
@thomasross4921
Жыл бұрын
This has nothing to do with spending. Republicans put a trillion dollar tax cut on America's tab and now they don't want to pay it.
@cogent211814
Жыл бұрын
We could start by rolling back the 2017 tax cuts. Then we could cut the military budget by 10-25%. Finally, we start taxing wall street transactions by a few cents. This could eliminate our deficit without harming our economy.
@screaminpman
Жыл бұрын
Kevin McCarthy: “The buck stops elsewhere!”
@robertcoyner1530
Жыл бұрын
yep... it's all on the democrats and schumer in the senate... why hasnt he brought the house bill up for a vote yet? because it would liely pass , thats why... mc carthy should not be negotiating anything until the senate either votes on the current house bill, or passes a bill of their own.
@user-ms4ef8xz9t
Жыл бұрын
If the clowns in Washington can't balance a budget, fire all of them.
@joedutton3413
Жыл бұрын
Need to pass a law that no lawyer or lobbyist are allowed in our government or any lobbyist.
@cogent211814
Жыл бұрын
We will never balance our budget. Never have, never will. When you buy a house your budget is no longer balanced. But the equity in the property and the future value makes sense. The same way with the government. When government borrows to build a water project a rail system or a university, there is future value in those expenditures. Where we fail is by building bombs, guns, & weapons systems. Once these are built they have zero future economic value. Boom and the bomb is gone. Its always back to guns versus butter. You can have one or the other but not both.
@Weaseltube
Жыл бұрын
The debt ceiling isn’t part of any budget. It’s a needless and arbitrary pretense to argue that the government is overspending when in fact it has plenty of overhead for spending more if it needs to without incurring punishing interest rates. But the debt ceiling pretense allows Conservatives to spread fear about overspending, the same fear mongering they’ve been doing for decades despite it being Reagan in the 80s who unshackled debt expenses from all previous constraints of government spending.
@joedutton3413
Жыл бұрын
@@Weaseltube thats true but debt is debt and with the trillions spent the interest will eat up the overhead leaving us with what more inflation and higher interest rates and no businesses. So lets have them send billion dollar checks to everyone if theres no limit on spending see how that works out. You cant spend your way out of bankruptcy period.
@Weaseltube
Жыл бұрын
@@joedutton3413 There can be too much debt but some debt can be good if spent correctly. Any successful business or government runs on debt. The focus should be waste, not debt.
@StealthyDead
Жыл бұрын
If the US defaulted, it would cost those politicians too much money. They make a big hulabaloo about it, but they'll never allow it to default.
@sds5502
Жыл бұрын
Not so sure. They will do anything to get TRE45ON back in power and this is a path they see. Also typical REPUBLICAN playbook, screw over middle and lower class for the " American 1% Billionaires"
@unfilteredminds-zd4ig
Жыл бұрын
The U.S. defaulted twice already and it turned out to be a very good decision for USA.
@TomNook.
Жыл бұрын
3 seconds before the deadline they will make a deal
@mcginnis8425
Жыл бұрын
Hopefully
@bngr_bngr
Жыл бұрын
It always happen. Especially in this election cycle.
@mrcmid9132
Жыл бұрын
🤪 😜 are you sure?
@mcginnis8425
Жыл бұрын
@@bngr_bngr makes a lot of sense outside can literally do a promo package how either side was delaying the spending bill
@ruralhobo
Жыл бұрын
Trump ordered House Republicans to not make a deal. So the question is, can five be found to disobey him, and even if five have that courage, can McCarthy be persuaded to allow a vote. All within a week.
@muhammad-bin-american
Жыл бұрын
Wish I could just print a $10K coin or bill to pay off my credit card debt.
@hanzn6784
Жыл бұрын
I like how cutting goverment spending and raising taxes wasn't one of the options
@whysoserious1978
Жыл бұрын
It’s called budget
@michawhite7613
Жыл бұрын
That's something only Congress can do. If they could do that, then they could just raise the debt limit.
@ultra_magaman8009
Жыл бұрын
@@whysoserious1978 A budget can be adjusted - and the agency that uses it can be cut - Our Gov. is too big and too noisy
@meltdown6165
Жыл бұрын
@@ultra_magaman8009 Or maybe not big enough? The IRS could surly use more workers to audit the taxes of multimillionaires and big cooperations. As you might know, they do not pay their fair share but use all kind of tricks to evade paying taxes as everybody else does. But IRS only has the resources to audit the average Joe because this is much easier than auditing huge opaque holding company constructs with offshore accounts. Btw, these are the same groups for which Trump cut the taxes, all the while everybody else who does real work (instead of living of the work of others) has to pay up.
@codelessunlimited7701
Жыл бұрын
Cutting government spending means no money for career-politicians. Raising the taxes would make the voters to avoid career-politicians.
@charlesfriscia7236
Жыл бұрын
How many times is the news gonna take you down the same road of heart attack before you realize every single time we are in the same place and it gets done?
@shmookins
Жыл бұрын
At the end of the video, a process is mentioned that would take more than a month, and the expert says we don't have more than a month. Ok, how about you work on that for next year, or the next cycle, or for the next time? I don't understand the "we don't have time" argument. Also, it is not encouraging when multiple experts say the 'only' solution is to raise the debt limit. Ok, for how long? Infinitely do that till the end of time? I heard one politician say the debt could be paid within a decade or two if they adjusted/added some penny to the dollar of government expenses towards paying for the debt. I want more people to talk about a solution to the debt and not keep raising it- even if the solution takes decades to resolve so people won't feel a sudden pinch.
@Sulla2300
Жыл бұрын
This is pure nonsense. Trillion dollar coin? The 14th amendment says that the validity of the public debt shall not be questioned; it absolutely does not give the executive the right to increase the debt ceiling in order to finance more debt.
@HAPninKEN
Жыл бұрын
DEFAULT...it will hit the RICH WAY MORE......
@meriliu8688
Жыл бұрын
Default will only makes the poor & middle income suffers! Rich still enjoy their lives!
@tiagogomes3807
Жыл бұрын
You would starve to death before their dogs would notice a change.
@honestbusiness1371
Жыл бұрын
Republicans pulled this in 2011 and America’s credit was down graded. This isn’t the pro America pro small business GOP anymore. Pay your bills dolts.
@clocktowerhill8760
Жыл бұрын
There are good options. Cut spending.
@RedLgb-df9ob
Жыл бұрын
Stop giving all our money away and return money to social security that was borrowed.
@politicrackedpodcast9868
Жыл бұрын
Why don't they mentioned we've already minted trillion dollar coins? This isn't a new idea.
@Joseph-zd2ru
Жыл бұрын
WHY IS MCCARTHY TALKING TO PRESIDENT WHO HAS NO LEGAL AUTHORITY ON SPENDING.
@shanemooon
Жыл бұрын
We’ve already been here. Why are we talking about this like it’s some new, crazy issue? We’re not going to default. It’s a game of chicken.
@lawyermahaprasad
Жыл бұрын
Cause many people in financial markets already know Chinese MSS has Leaders from both the sides in their pockets.
@bngr_bngr
Жыл бұрын
Biden can’t even remember what country he is in.
@weird-guy
Жыл бұрын
USA citizens need to turn off their TVs 😂
@GermanShepherdDaphne
Жыл бұрын
Facts! Just to make the stock market go crazy imo
@GermanShepherdDaphne
Жыл бұрын
Buy the rumors sell the news! Why do we have to suffer because these idiots can’t pay their bills with the money WE ALREADY GAVE THEM
@irishangel1118
Жыл бұрын
Besides, they have tax revenue coming in it’s not in dire need to get this debt ceiling taken care of. She keeps pushing it back week after week. I have heard some people say that we have until September because of the tax revenue coming in so don’t fall for it.
@Sirsantos
Жыл бұрын
A clean debt ceiling bill would be great - but we elect showmen over doers.
@lindarushton6502
Жыл бұрын
Need to allow reality in.
@thatguyrich9822
Жыл бұрын
Or.... and I'm just slinging from the hip here, Congress could just reduce spending from various programs, and pay its obligations on time.... you know, like the rest of us.
@roryp7730
Жыл бұрын
I’d love for my credit card company to keep increasing my limit every time I hit it 😂
@RichardASalisbury1
Жыл бұрын
I bet they'd love you also if you were to buy a lot of stuff with your current debt limit [note: this is true/rational meaning of "debt limit"], then say, "Sorry Chase VISA, I've exceeded the debt limit I set for myself, so anything over that I'm not paying. I get to keep the stuff; you're out the money." You'd be in court so fast your head would spin.
@roryp7730
Жыл бұрын
@@GlennRA3 A nation is only a collective of people..and the Government is only instituted to manage the collective. A portion of what they spend comes from my taxes, which involves me having to forego some things because I don't have the leverage to spend extra. What gives the Government the right to not be mindful of what it spends? I am not against government spending money, all I want is accountability, just like how it is done to you and me.
@tesladrew2608
Жыл бұрын
The debt limit isn't about new spending, it's about paying your bills
@roryp7730
Жыл бұрын
@@tesladrew2608 Partially true, imagine if you went out and bought a bunch of things with a credit card, and then when the bill came, you decided you didn't want to pay it.. That is what is happening now.. You should have not charged it in the first place.. but now you might have to return some things or sell some things you bought.. and also decide not to eat out in the next month so that you can afford to pay back. The answer is not to call the credit card company and ask them to increase the limit so that you don't default.
@tesladrew2608
Жыл бұрын
@@roryp7730 no. It's like having an unlimited credit limit and saying you won't spend more than 1k. Then you spend 1.5k and tell the bank you won't repay the 500 you spent over your arbitrary limit.
@kristensorensen2219
Жыл бұрын
Why can't the congress just do their job?!! This stuff is pathetic!! It is a train wreck that Nixon started by dumping the gold standard!!
@JesusLoves0902
Жыл бұрын
I’ll tell you why cause there greedy the person that becomes rich ones more and more and yet we keep this people in power
@madmachanicest9955
Жыл бұрын
The debt ceiling should be thrown out with the garbage. The use of the debt ceiling as political blackmail will never stops along as is a thing. Instead it the debt limit should be used as a trigger mechanism to lower government spending. Specifically corporate handouts at the military.
@igorwojtyna2158
Жыл бұрын
I remember the Orion news network suggesting ideas such as pretending to be canada or burning down the country for the insurance Money
@anthonymcneill1465
Жыл бұрын
This is an unreasonable and untenable situation, principally, because people are unwilling to bargain in good faith. If the debt shall not be questioned, why the horse and donkey show? Pay the debt first, then, immediately move to negotiations to cut the federal budget for the next cycle. One Republican said they would blow up the process, if they don't get their way, and that is unacceptable. Anyone who engages in such a practice, salary shall be withheld and removed from office. Next, replace them with their governor or hold a special election. These people took an oath to uphold the Constitution and there could be some who are not acting according to their lawful oath.
@Don-md6wn
Жыл бұрын
The whole "cut the budget" is a load of nonsense, though a cut in the defense budget would be desirable. It is ridiculous that the Dems aren't talking about repealing the Bush and Trump tax cuts, which is why the deficit and national debt is out of control.
@dennisp8520
Жыл бұрын
A official that would dam the whole nation for something so petty is a traitor to this country. Honestly if we wanna pressure politicians we should be out protesting, demanding the limit gets raised. If they don’t wanna work and do our jobs why should we. They got a lot more to lose after all then the average American
@johnnyulster5637
Жыл бұрын
@@Don-md6wn No it's not. The debt is out of control because of Democrat give away programs resulting in U.S. spending more than they take in. This is simple arithmetic. Don't spend money you don't have.
@whetwilly1
Жыл бұрын
No one ever reduces the budget. Raising the debt ceiling expecting reasonable budget negotiations later is fooling themselves…let it default. Lets rip off the bandaid, suffer now and let the system reset.
@stridertherangerwoof
Жыл бұрын
@@Don-md6wn YOU THINK REPUBLICANS WILL GO FOR THAT HAHAHAHA
@pohkeee
Жыл бұрын
The best outcome is to fire a whole lot of the house…
@blackrocks8413
Жыл бұрын
he could stop spending like a drunk sailor...there's that
@charlie-obrien
Жыл бұрын
You are referring to when Trump gave billionaires the Trillion dollar tax cut? Good point, since he is responsible (with only one 4 yr term) for 1/3 of our our national debt!
@Mfield111
Жыл бұрын
This insane stuff started when Trump cut and protected Billionaires and business with huge tax cuts....and now Gop wants to starve children in low income households what a shame
@robertcoyner1530
Жыл бұрын
@@charlie-obrien dont forget that nancy pelosi was speaker for two of those years, and pelosi during her two terms as speaker, increased the debt more than any one else ever had...
@michawhite7613
Жыл бұрын
Congress decides the budget, not the president. It's kinda funny since Congress also decides the debt ceiling. And then they act shocked *shocked* that the president would spend this money that Congress legally required him to spend.
@WandaGlodowski
Жыл бұрын
SHAME ON THE GOVT REPS.......you have made a joke of our country. Our pride is fading.
@hernandezrobinsonr
Жыл бұрын
What If money is no wasted on war?
@jaym9846
Жыл бұрын
The strength of US dollar depends on strength of US to win wars.
@user-cj1rm5wb6e
Жыл бұрын
Ask the gG O P THAT QUESTION
@csbrudy
Жыл бұрын
Use the 14th Amendment. Issue an executive order, and let the GOP suck it up.
@Henry-xu5jg
Жыл бұрын
That would get challenged in the Supreme Court and they would run out of time. It’s too lays to use the 14th amendment
@AndrewBurbo-zw6pf
Жыл бұрын
you could pay your debts but you still couldn't buy anything or rent hotel rooms for illegals or pay for new projects, the new green deal, or give money to Zelenski.
@neilkratzer3182
Жыл бұрын
That would be bad thing to do. You would set a precendce that would have disastrous results in the long run.
@andrewreynolds9371
Жыл бұрын
@@neilkratzer3182 why? does allowing one party to hold *the entire American economy* hostage sound like a great alternative to you?
@Jibril_Abdulkadir
Жыл бұрын
The dems are the ones who didn’t raise it before lol there fault also Biden always compromises his that’s what the dems do
@Joseph-zd2ru
Жыл бұрын
If there were a Civil War sparked how many would die first week. Millions? People on streets?
@GrayLensman51
Жыл бұрын
Congress already acted to raise the debt ceiling. It's now up to the Senate and pResident to get off their stubborn butts and deal with it. The people spoke in the 2022 midterm elections. Elections have consequences.
@Fe22234
Жыл бұрын
That bill cuts funding for veterans by 18 percent.
@VoodooV1
Жыл бұрын
do you negotiate with hostage takers? Cuz that's what this is. House bill is "gimme gimme gimme, or else I tank the economy and ill blame you when I don't get my way"
@GrayLensman51
Жыл бұрын
@@VoodooV1 Surprise, Surprise... That's the way a bicameral legislature works. The DemTurds have been cramming bills thru for two years without any input or negotiating with Repubs. Turnabout sucks doesn't it?
@rconwell1
Жыл бұрын
The real option here is for the president and democrats to accept the very reasonable recently passed House Debt Ceiling increase of 1.5T dolla plus saving with reduced spending. A recent "CNN Poll: 60% say debt ceiling increase should come with spending cuts". Higher numbers for independants also agree. The President's default option has disaster written all over it for the Democrats.
@jmlfa
Жыл бұрын
Question: If politicians can't spend our money freely, how could they possibly keep buying votes?
@fiftyshadesofpam9470
Жыл бұрын
With the money the people donate...they actually live on it
@Joseph-zd2ru
Жыл бұрын
6 hours researching can't find any proof Executive Branch President has authority on Spending Clause in Constitution
@donniecarrascosr.9912
Жыл бұрын
It’s all Democratic/Biden communist dictator Rules
@Phantom-jv2io
Жыл бұрын
The trillion dollar coin sounds like a plan devised by Dr. Evil, LoL
@WalkOverHotCoal
Жыл бұрын
I really like to first option to mint a coin valued at $1 Trillions. In fact, I have a better idea, why not up the ante and to coin three of them. That way the politicians can concentrate on doing something really meaningful for the US and not have to worry about the debt ceiling for the next three years. On second thought, why bother with minting a coin, just write a note with $1Trillion on it?
@profitmix441
Жыл бұрын
He shouldn’t bypass anyone… this isn’t a race it’s a serious matter age we are in massive debt.
@bavariancarenthusiast2722
Жыл бұрын
Wrong process - that needs to be done during the budget discussions and voting. This one is only about do we pay for what we already bought or not. Stupid.
@YT-mp7ei
Жыл бұрын
GOP acting like debt ceiling is a democrat problem when they themselves are responsible for more raised debt ceiling than Dems in US history.😂
@TonyLauLetta
Жыл бұрын
funny, dem presidents and full congresses started all our broken social programs....
@DugEphresh
Жыл бұрын
Hmm, prove it. Blank statements like yours are moronic and fall in line with everything the democrats do right?
@Henry-xu5jg
Жыл бұрын
Democrats are bigger Spenders
@mr.majestic3851
Жыл бұрын
@@Henry-xu5jg Republicans raised it 30 more times then democrats , and they had the WHITE HOUSE more years in last 70 yrs .
@YT-mp7ei
Жыл бұрын
@@Henry-xu5jg literally false if you look at any actual numbers lol. Budget deficits under GOP Presidents have been $4 trillion more than under Democratic Presidents since WW2.
@sonia_shah
Жыл бұрын
This is so BS , it’s party politics over common sense and country at this point ridiculous.
@phil20_20
Жыл бұрын
14th 😊 I don't see in the Constitution where the Congress has the power to default, only to collect the money and pay the debt. That is why the 14th Amendment was needed, to clarify the Constitutional obligation to pay the country's debts. Whether the debt ceiling is Constitutional or not, it is redundant in its intended purpose, that being to control expenditures, because that is already Congress' job when it enacts the laws that create the debt.
@andrewreynolds9371
Жыл бұрын
actually, the 14th Amendment was passed in the wake of the Civil War so all the unpaid bills from that struggle would get paid, and no one could doubt the value of America's money.
@johnnyulster5637
Жыл бұрын
The issue is the definition of "the Country's debts" and what exactly is compelled under the Amendment. Not all Democrat giveaway spending is covered by the Amendment. Running the government generally is. This is a Biden only issue. He is yelling about not being able to cover debts that he is required by law to cover, when he can do so very easily by NOT spending money on other items.
@GreenBeanGreenBean
Жыл бұрын
@@johnnyulster5637 you have no idea what you are talking about, that much is clear
@bloodwargaming3662
Жыл бұрын
@@johnnyulster5637 democratic giveaway? 😂 . You mean 1.4 trillion infra spending, 2 trillion rescue package which saved the @$$es of millions of Americans , or green energy subsidy which has made America a leader in renewable energy
@tesladrew2608
Жыл бұрын
@@johnnyulster5637 you mean Trump's multiple COVID giveaways?
@psychomd1939
Жыл бұрын
Since they all eook the oath to the Constitution, why not honor their oaths by obeying Section 4 of the 14th Amendment. Maybe that's too difficult a concept for them or perhaps they are just not used to performing their duties leaglly or honestly. Janet, in particular, needs to be kicked out forthwith.
@RoobieRhoo
Жыл бұрын
There is another way. Biden could simply choose to uphold the law. First, default is unconstitutional in the 14th amendment and the Supreme Court Perry decision. Importantly, congress has the authority to lay taxes, borrow money, and pass legislation. The President has the responsibility to uphold the law. Legislation passed by a majority vote in congress signed by the President, including past Presidents, is lawful spending authorization and "valid" debt. It must be paid and "shall not be questioned." McCarthy's Limit Save Grow bill is not law not having passed the Senate, so ignoring it is not unlawful. Forcing a default puts the President in the untenable position requiring him to break the laws already passed by congress and to pick and choose which legislation or debt gets paid using the unconstitutional line item veto he does not have. He must choose to uphold the law and pay our bills with the backing of the law itself, 14th amendment, and the Perry decision. The President cannot be forced to break the law. Fortunately, we may know something sooner than we think. Government employees are the plaintiff in a case before the Supreme Court alleging harm and that default is unconstitutional. Recently they filed for an emergency ruling on the unconstitutional line item veto the President Biden does not have because it gives the President too much power. However, the President must effectively use it to determine what bills get paid and those that won't. The only path forward is to uphold the law and pay all bills.
@joedutton3413
Жыл бұрын
Surely your not saying XiBiden follows the laws of this country. Hes a traitor period no ands if or buts about it that goes for the majority of the Democrat Communist Party.
@EagleZoo
Жыл бұрын
So when does this issue if the debt get resolved?
@RoobieRhoo
Жыл бұрын
@@EagleZoo Hard to say, but before we run out of money. Since January, the Treasury has using "extraordinary measures" authorized by congress. Among other things, those measures allows the Treasury to redeem US bonds saved government employee retirement account. After the impasse, they are required by law to be made whole. The government employees are the plaintiff in a case against Pres Biden and Sec Yellen before the supreme court citing harm and default is unconstitutional. This is not political, they are defendants because they are responsible for upholding lawful legislation. They recently filed an injunction citing the debt ceiling will require the president to break the law by not funding lawful debt obligations and arguing the President cannot do that because a line item veto is also unconstitutional. So, we may know something if any of this is resolved before the X date.
@todengine
Жыл бұрын
Don't be fooled. The country will not default. All income to the govt. does not cease on June 1. It still brings in trillions and obligations can be paid from that income.
@atishayritulpatwa7235
Жыл бұрын
The problem is that US can service its debt but they can't continue their stupid spending on biden's stupid fantasy because they can't borrow anymore.
@katnip6289
Жыл бұрын
Get rid of corporate welfare, and the problem is solved.
@SpynCycle57
Жыл бұрын
The very same people that passed the spending bills to cause the massive debt are now complaining as if this debt issue was unjustly thrust upon them to deal with. You've maxed all your credit cards and now you're crying that you can't buy a new iPhone, because your current iPhone is 6 months old.
@Weaseltube
Жыл бұрын
The debt has accumulated for centuries, and today’s debt consists of many obligations that were undertaken by congress decades ago, with the sharpest rise beginning in the Reagan years. So no, it’s not the same people. Also the credit cards are nowhere near maxed out. The debt ceiling is self-imposed by congress for no reason except to alarm voters on a regurlarly scheduled basis into believing the government is overspending when it isn’t.
@robertcoyner1530
Жыл бұрын
@@Weaseltube when we are spending 150 times more than our gdp... cuts need to be made... republicans in the house have already passed a bill to raise the debt ceiling... but schumer and the dems refuse to bring it up for a vote in the senate... because they fear it will pass.
@darkking9800
Жыл бұрын
meh i will bet my entire fortune here they will just end up raising the debt ceiling again and again no need to be dramatic, it's america's burden, unlimited loop and unlimited money no need for one trillion coin.. they can just raised the debt ceiling
@thomastessier4529
Жыл бұрын
This is what a dictator would do instead of working within the system with the people who were voted into office by the people.
@saundraking7168
Жыл бұрын
14th amendment has already been accepted. Just go ahead and implement it. No litigation is needed. NO STANDING!
@HAPninKEN
Жыл бұрын
recall the TAX BREAKS
@avengingbathtub1011
Жыл бұрын
The office of the president is not a king. If they did this congress should immediately remove from office and limit the powers of that office forever.
@user-cw1ht6vc4k
Жыл бұрын
We can’t just keep on spending what we don’t have! This is unsustainable 🤦🏾♂️ 🤦🏾♂️ how do the so called experts not see this!
@drmode
Жыл бұрын
So cut DoD, SS and Medicare
@mrcmid9132
Жыл бұрын
So what would you cut out of the budget?
@StephenRichmond89
Жыл бұрын
It's actually a little different with national finances. The Government budget acts a little but more like a bank where as long as the money the bank/Government lends/spends out creates more growth than the money spent it's fine. So it's better to think of it as: the economy grows every year (hopefully) and so there has to be a bit more money going into the system than the year before. This money comes either through lending to private companies and people or lending to the government. The lending itself is fine as long as it's the right size of lending but lending to governments has a lot of stability while private lending has a lot of dynamism. You need a mix of both to get a vibrant economy without big booms and busts. So it's not "spending money we don't have" it's gradually and slowly investing in the future. Just like a bank lending to a business to build a new factory. It's mostly good.
@mrcmid9132
Жыл бұрын
@Stephen Richmond yeah but the biggest problem with wall street and government politicians is greed. This is why the country is screwed up. Someone will steal money and mess the system up while blaming someone else.
@marioperez7375
Жыл бұрын
@@mrcmid9132thier massive salaries and massive life pensions they live like kings and won't even consider that. How about the pay thier share of taxes they don't pay anything and they get paid too much to talk and do nothing then go ahead and buy a 1000 dollar meal this is ridiculous.
@jamesparent1525
Жыл бұрын
This should of been taking care of a month ago and look at the spending and eliminate some start paying the det off dont backrupt usa we are already owe way to much stop wake up government dont waist our overcharge tax money!!!!
@liamlee4817
Жыл бұрын
The segment on the coin was basically just some people saying “no that’s silly” All of this is silly and letting the country default is even sillier
@soco2020
Жыл бұрын
This is debt that the US is already obligated to pay. Defaulting on the debt proves no point and only serves to significantly weaken the US's credibility and position on the world stage.
@Acteaon
Жыл бұрын
Could be a humbling outcome
@FGP_Pro
Жыл бұрын
The 14th amendment should be adjudicated and the debt limit should be found to be unconstitutional and nonsensical. It makes no sense, because congress already authorized the spending when they passed the budget. There is absolutely no reason that spending should be voted on again. Any concessions that the opposition party wants, they should get when negotiating the budget. This brinkmanship with the US economy is foolish and dangerous.
@Joseph-zd2ru
Жыл бұрын
14th Amendment says North's Civil War debt Validity can't be questioned. Was paid.
@Chulitatr
Жыл бұрын
Cut the GOP'S salaries, lifetime medical, and their pensions first. And tax the billionaire corporation's and cut their Corporate Welfare subsidies and make them pay their fair share of taxes, instead of the American people subsidizing their lifestyle out of our broken backs and wallets!!
@UHaulShorts
Жыл бұрын
And dnce's
@bngr_bngr
Жыл бұрын
Just cut the budget. Stop sending money to Ukraine and countries around the globe.
@powerToYourself36
Жыл бұрын
I think you meant to say cut all politicians salary and limit the power of the federal government?
@deeinfl5600
Жыл бұрын
Can’t cut anything for GOP members of Congress. Pay is decided by the 27th A and can only be changed at a specific time. It applies to all members. No member of Congress gets free lifetime medical benefits. Members of Congress pay for their healthcare. Congressional pensions are paid into by the member of Congress from their first day in office. They are vested after 6 years. If a Representative fails to be reelected after his/her first term they don’t get to collect a pension at retirement age. You can’t withhold a person from getting access to their own money. Also, your plan has other problems for those members who have been in Congress a long time and are getting close to retirement age. No member of Congress pays into Social Security because they aren’t allowed to collect Social Security. It’s why the pension exists. I bet you’re one of the ones who screeches about Social Security can’t be ended, I paid into it and it’s my money but that’s exactly what you want to be done to GOP pensions. Figures a Democrat has double standards.
@deeinfl5600
Жыл бұрын
@@powerToYourself36 Congress salary is $174,000/year and they haven’t had a raise since 2009. Could you maintain 2 homes and raise a family on $174,000 per year? I bet you have had a raise in the past 14 years too. So what would you like the salary cut to and how do member’s survive? Should they take on part-time jobs?
@Arch3r666
Жыл бұрын
One really stupid idea.... kindly stop spending money on sending things to the court to deal with, such as the 14th Amendment.... that's more money for lawyers, paid for with money the government didn't actually have...
@ScottJPowers
Жыл бұрын
Why doesn't the president just issue an executive order telling the Treasury to ignore the debt ceiling bill. Congress would have to take this to the supreme court to challenge it and the president could cite the 14th amendment as his justification. In the mean time, we avoid a default.
@brianc1812
Жыл бұрын
Or..........................get this...........................actually cut spending. Welfare should be a helping hand and not a lifestyle. Military spending needs to be looked at with all the waste. Government spending is a joke.
@kevinyaucheekin1319
Жыл бұрын
Will not work, the Federal Reserve need to buy in to that too & they most absolutely won't. That because the US gov general account (its the USA equivalent of its chequing account) is held in the Federal Reserve. The actual money has to be found somewhere, if Treasury has no monies (like tax revenue receipts or funds from sale of treasuries T bills/notes/bonds, fines, sales of oil/gas drilling lease) to put into the kitty (general account in the Fed) then Biden executive order be useless. Because even if the Treasury ignores the House, the reality is the checking account is empty.There need be money to fill the general account from slomewhere. Sales of leases, tax receipt revenues, plunder from war or other activities like letters of marque, excise & duties, fines & sale of treasuries T bills/notes & bonds. That be the US general sources of revenue.
@deeinfl5600
Жыл бұрын
Biden doesn’t have the Constitutional authority to sign an EO to tell the Treasury to ignore a law passed by Congress. Biden will lose at SCOTUS trying to use the 14th A. That was passed regarding the debt from the Civil War. It was to acknowledge the debt accrued by the Union would be honored by the debt by the Confederacy wouldn’t be repaid. Also everyone is ignoring Section 5 of the 14th A which clearly states Congress shall pass the laws controlling this amendment. That overlooked section of the 14th A keeps the debt still under the control of the House which is clearly outlined in Article 1 Section 8 Clause 1 which says the power of the purse is in the House and is why all spending bills must start in the House. This video has misinformation and lacking context. It claims Social Security Medicare would be affected by a default. That’s not true. That money is mandatory spending and is paid out of a trust fund. Neither of those benefits are part of the debt ceiling borrowing. Lastly, the IRS receives more revenue than the amount of the monthly debt payments. They can still be paid without raising the debt ceiling. This is another reason why Biden would lose at the SC. There is enough money to service the debt without having the Treasury disregard the debt ceiling. The need to raise the debt ceiling is so the Treasury can continue borrowing to pay for the ridiculous discretionary overspending the government has done like expanding Obamacare subsidies, money to Ukraine for the war, foreign aid, NIH grants for studies (which are often frivolous like the study to see which moves faster a dead turtle or an alive turtle or effects of cocaine on love birds) and so many other government programs. Invoking the 14A to spend on daily government functions from Biden’s $6.8T budget for 2023 is not a reason to use the 14th A. That isn’t existing debt. That’s spending Biden wants to continue.
@ruralhobo
Жыл бұрын
The Treasury can ignore the debt ceiling but who would trust the bonds it issues? Maybe courts will hold them invalid. There's no way to issue safe bonds without Congress approving of them.
@ScottJPowers
Жыл бұрын
@@kevinyaucheekin1319 they can borrow more money like they normally would
@pattyandme8615
Жыл бұрын
its a nation security issue the effects of inaction vs action are detrimental to national security. let the GOP take him to court over it and do it with out the House
@transon6655
Жыл бұрын
They could go around congress by cut government spending ?
@Chulitatr
Жыл бұрын
Cut the GOP'S salaries, lifetime medical, and their pensions first. And tax the billionaire corporation's and cut their Corporate Welfare subsidies and make them pay their fair share of taxes, instead of the American people subsidizing their lifestyle out of our broken backs and wallets!!
@transon6655
Жыл бұрын
@@Chulitatr Do it for all politician and I am in
@drmode
Жыл бұрын
Cut DoD, SS, Medicare = 80% of spending
@johngiglio6834
Жыл бұрын
LIE! No Default! Can you raise your debt ceiling at will? Why can Congress?
@bubblebobburst3502
Жыл бұрын
The only good outcome is to not spend more than you earn...duhh
@mrcmid9132
Жыл бұрын
So what would you cut out of the budget?
@jumbomuffin1316
Жыл бұрын
@@mrcmid9132social security, Medicare and military? 🤷♂️
@dlewis895
Жыл бұрын
ALL GOP PRESIDENTS ALWAYS SPEND TONS MORE LEAVE WH IN MORE DEBT THAN WHEN THEY CAME INTO WH MFERS GREEEEED 1ST
@AndrewBurbo-zw6pf
Жыл бұрын
@@mrcmid9132 a lot
@AndrewBurbo-zw6pf
Жыл бұрын
@@jumbomuffin1316 SS is not in the budget, that's why it will not stop on the first
@dougwheeler4549
Жыл бұрын
Default. Now. Default. Fire all House and Senate members. All. Default.
@CHMichael
Жыл бұрын
The usual theater to give voters a show. Would be so much easier if we had a budget.
@robertcoyner1530
Жыл бұрын
a bill has already passed in the house to raise the debt limit... why hasnt schumer and the dems brought it up for a vote in the senate, or created a senate bill of their own that can pass? the republican bill just puts spending limits back to 2022 levels, before the onmibus was passed.
@youtubetim3577
Жыл бұрын
Who's ready for a default
@gordonadams5891
Жыл бұрын
How is the platinum coin even presented as a serious option?
@maxhobby1701
Жыл бұрын
For one thing you stop paying all federal civil and public service hold up their salaries see how they like it
@noblexavierrossom
Жыл бұрын
An here I am trying to pay off my Debt 😂
@gerlandkent6377
Жыл бұрын
Let's, go fishing every day.
@jameyjacade28
Жыл бұрын
This is literally Idiocracy in real life, how are we doin this bad as a country? Limitless spending is necessary for a strong economy now, laughing stock of the world now
@andreagaisser4981
Жыл бұрын
I'm really liking that coin idea. How many times can we do that? Could we wipe out all of our debt with magic coins?
@infinitytoinfinitysquaredb7836
Жыл бұрын
The magical coins created by surreptitiously feeding unicorns the blood of virgins are especially powerful. 😁
@brianc1812
Жыл бұрын
You would crash the dollar
@StephenRichmond89
Жыл бұрын
Legally, yes, the problem is that if you keep spending after you've used the coin then that money would circulate in the economy and it may be difficult for the Fed to control inflation. However, in practice, if that ever happened the Fed would likely charge interest on reserves instead and so, in practice, the Fed would borrow the money rather than the treasury borrowing the money... so in the end the Government would be borrowing it either way.
@Burnlit1337
Жыл бұрын
Pretty sure it's like printing out large amounts of money . If the small increases to the inflation is already alot, then the sky high Inflation would destroy the world,
@TheCrimsonOne508
Жыл бұрын
Hope you like hyperinflation
@VoodooV1
Жыл бұрын
why does it have to be the President? Congress has the power of the purse do they not? Why can't the Senate just invoke the 14th and just nullify this nonsense?
@malteschaper3782
Жыл бұрын
How many votes does it take to get it through the congress? I did some research but it's rather hard to get a clear statement what exactly it needs to "pass congress". Anyone knows?
@elroyla227
Жыл бұрын
Just basically needs an agreement that the MAGA wing of the Republican Party is willing to accept. They basically hold power over McCarthy and in turn the entire congress.
@jamesbrown1645
Жыл бұрын
5 republicans votes are needed in the house but we saw what happened to Liz Cheney when you don't fall in line so its easier said then done.
@AndrewBurbo-zw6pf
Жыл бұрын
@@elroyla227 a bill has already passed the house and republicans could pass a bill in the senate if uncle Festerman and Feinstein were taken off life support and didn't have people doing what their brains and bodies are arguably incapable of.
@malteschaper3782
Жыл бұрын
@@jamesbrown1645 Yeah, in the current atmosphere five votes is a lot. Under different circumstances, five votes over the aisle shouldn't be such a big deal. Thanks for answering!
@ghost_rider221
Жыл бұрын
@@elroyla227 Heres another dunce that has no idea what MAGA stands for lol
@gianni_4
Жыл бұрын
Reduce the defense bill and stop funding Ukraine.
@Ma1akai
Жыл бұрын
no
@bavariancarenthusiast2722
Жыл бұрын
Nobody wants that - well almost nobody - for sure Putin wants that desperately
@9753flyer
Жыл бұрын
The 14th needs to be invoked.. the debt limit was never supposed to be there.
@garciaglz3556
Жыл бұрын
Even Biden stated getting rid of the debt limit is a bad idea!
@9753flyer
Жыл бұрын
@@garciaglz3556 Really?? "Biden over the weekend signaled the 14th Amendment option isn’t completely off the table for the future. “It’s up to lawmakers,” Biden said in Hiroshima. “But my hope and intention is: When we resolve this problem, I’d find a rationale to take it to the courts to see whether or not the 14th Amendment is, in fact, something that would be able to stop it.” Biden might not like it, but being President is not about what you like, it's about what is best for the country. Biden knows this, unlike tfg and his supporters who are causing this entire fiasco in the first place... people who only have an issue with paying the bill for what they bought when their guy is not in the White House. There are a lot of people a lot smarter than you or I who agree that it should be removed for economic stability and constitutional reasons.
@AndrewBurbo-zw6pf
Жыл бұрын
14TH AMENDMENT, SECTION 5 "The Congress shall have power to enforce, by appropriate legislation, the provisions of this article." the house has passed a bill, where's the senate?
@jordanrosenberg9816
Жыл бұрын
Biden would rather bankrupt the grandchildren of the nation than agree to cut spending
@robertcoyner1530
Жыл бұрын
@@AndrewBurbo-zw6pf im shocked at how many people commenting dont even know that the republicans in the house have already passed a bill to raise the debt ceiling... and that schumer is refusing to bring it to the senate floor for a vote, because it would likely pass
@GotMoxy
Жыл бұрын
How’s that Build Back Better working for you Americans ? One big lie after another
@ORO323
Жыл бұрын
Wouldn’t using the 14th be something that needed to be done earlier? Like in January? Since I can totally see the GOP sue to hold it up in court.
@lifeofsui3864
Жыл бұрын
Just ignore the validated by law on the 14th….
@cuauhtopete
Жыл бұрын
Look at these dinosaurs running our country.
@mrstatestheobvious
Жыл бұрын
The only good option would be for politicians to stop using American tax payer money as the own personal piggy banks. Stop overspending.
@Maj9183
Жыл бұрын
This is the weirdest take on the 14th amendment. Yes it does say the validity of the public debt shall not be questioned, but they completely skip over the verbiage in the middle of that passage… “authorized by law”. Only public debt authorized by law shall not be questioned.
@robertcoyner1530
Жыл бұрын
yes, especially since the house has already passed a bill to raise the debt ceiling.....
@VoodooV1
Жыл бұрын
@@robertcoyner1530 ...with the provision that veterans benefits be cut. Why are veterans being held hostage?
@robertcoyner1530
Жыл бұрын
@@VoodooV1 how will veteran benefits be cut, if we are returning to 2022 spending limits? same goes for S.S. and medicare.. there wont be any cuts... mostly what will be cut are the wasteful tings that were in the omnibus bill that dems pushed through... just alot of dem fear porn being pushed by dems and msm.
@arundavid8231
Жыл бұрын
Today he spend $ 300 Million as military aid to Ukraine
@robertwrede7843
Жыл бұрын
The banks recieving bailouts in past economic trageties, should step up and loan in accordance.
@cat-.-
Жыл бұрын
It's not that banks won't lend, or that investors won't lend. It's the congress not letting the government borrow, which is the entire point of this video
@blackrocks8413
Жыл бұрын
????
@stevemclean9411
Жыл бұрын
Let them know they cannot hold the government hostage. Nor expect to pass ANYTHING.
@doungnguyen4067
Жыл бұрын
Investing is considered a bedrock in making generational wealth. Most people don't know when, where or what to invest in. Fortunately, great investors of the past and present can provide us with guidance and ideas. Meaningful contributions are always welcomed.
@MrTnylam
Жыл бұрын
When will the US live within its means? I can run a country running a trillion deficit spending per year.
@dickmoney2946
Жыл бұрын
Circumventing the law is the new federal government pass time.
@Jsmith2024
Жыл бұрын
Make a trillion dollar coin and everyone's real money becomes valueless immediately. Horrible idea.
@kevinyaucheekin1319
Жыл бұрын
Not a Yank, Singaporean. Putin thinks its a brilliant idea.
@chunpak1811
Жыл бұрын
You forgot the most correct and appropriate option and that is to not raise the debt ceiling and cut spending! The Federal Government must cut spending as soon as possible!
@Mfield111
Жыл бұрын
Cut debt without starving innocent children 😢
@chunpak1811
Жыл бұрын
@@Mfield111 Spending money you don't have to give to the poor will only keep them in poverty by keeping them dependent on free money and increasing inflation. If you are not going to raise money honestly by raising taxes (which they won't because that will not get them reelected), you have to cut spending to restore the value of money. Listen to Peter Schiff.
@harlovedeepsamra4182
Жыл бұрын
Cut it from the rich and wealthy who can afford it, the poor are just getting more poor
@chunpak1811
Жыл бұрын
@@harlovedeepsamra4182 Government should not take money away from some people and give it to others. That is stealing.
@SuperGman117
Жыл бұрын
@@chunpak1811 Oh great, you think the government should run on donations?
@dongilleo9743
Жыл бұрын
Threats of a "default" are little more than a Democratic Party talking point to push for ever greater national debt and endless spending. When real people are faced with a difference between their income and expenses, they have to make hard choices. You make a list of your expenses in order of priority, and pay the most important things first; mortgage or rent, car payment, credit card payment, food. If you run out of money before you hit the bottom of the list, you do without or put it off. Biden and Democrats talking about using the 14th Amendment to do an end run around the clear Constitutional authority of Congress to raise revenue and spend money is the height of hypocrisy. They aren't worried about a default. They want to be able to go on spending untold billions on their Green Energy cultist fantasies and their Diversity, Equity, and Inclusion ideological evangelicalism. Can you imagine the reaction of Democrats and their news media minions if Trump had floated the idea of using the 14th Amendment to do an end run around a Democratic Party controlled House? They would have been apocalyptic. "This is a Constitutional crisis!!!" "He's trying to become a dictator!!!" But now with Biden, nothing. They just want to endlessly run up the national debt to splurge on their wanted spending.
@timothyadams7638
Жыл бұрын
Yes Biden avoid guiding us into a financial emergency!
@davebrookbank4831
Жыл бұрын
and if he does any of those things you can count on a civil war.
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