. House Republican lawmakers have expressed their intent to negotiate a deal to raise the debt ceiling to achieve spending cuts on Democratic priorities, but those negotiations appear to be stalled — and the country is inching closer to a catastrophic default.
"The Republican approach to the debt ceiling will either result in a catastrophic default and an economic recession - or massive cuts to key government programs that destroy millions of jobs. You must reject both options," Warren wrote. It's hard to know exactly what would happen if the US defaults on its debt, because it's never happened before. One thing that's clear is that the economic picture won't be pretty. A default could mean a historic financial crisis, one that drags down the rest of the world, too, as the market for US government debt is a key aspect of global finance.
Warren is holding a hearing on Tuesday afternoon to discuss the"disastrous impacts" of a debt default, including testimony from Moody's Analytics Chief Economist Mark Zandi.
after 14 yrs of deficit spending, usa added 22 trln in new debt,, does she really believe that this number is not a problem,,, if you keep spending and printing than money value falls,, inflation hits bottom 3/4 of pop very hard , who is she really protecting,,,
Democrats are 'spending alcoholics' who cannot see the damage they have done. The Republicans are in second place for their years of increasing the national debt. So two wrongs do not make a right.
Loll more lies
Montana Representative to Jay Powell. How does raising interest rates slow inflation? That will result in fewer jobs for my constituents. Don’t you care about unemployment. Powell: It’s not about the people dammit, we’re fighting inflation! Unemployment is a byproduct. Sheesh!
Isnt that what the fed wants
Saving 300 million + from the ravages of inflation
That's the idea!!! Look at your personal budget... what happens if you spend money you don't have It's not rocket surgery!
The sacrifices we make just to secure a better future for our kids and grandchildren. We are amazing! Go ahead and cut spending; it will all work out. It's the American fighting way!
Okay… Maybe you should have thought about that before spending like a high class hooker…
What do you make of this Meta_2077 Rocky84305245 JimTurpin_WTER RobbieGamber ?