Ryan: Reasonable Chance of a Debt Crisis

Paul Ryan, Former Speaker of the House and Teneo Vice Chairman takes us through some of the economic issues that the next president might face, including a debt crisis. He speaks to David Westin at the Milken Global Institute Conference in Beverly Hills.
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[@gddlsllc]

While in congress he brought the debt from 5 trillion to 20 trillion. This man is a disgrace

[@tjsokkerplayer]

What a ridiculous point of view. As if one man is solely responsible for the debt bubble. Also do you want to give him credit for the stock market going up during the same time period?

[@tatianastarcic]

The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...

[@Michaelparker12]

They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.

[@berniceburgos-]

Hearing from an experienced investor who has survived adversity and prevailed is always motivating. It may be frightening when your portfolio goes from green to red, but if you have invested in strong firms, you should maintain growing them and stick to your goal.

[@nicolasbenson009]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@BridgetMiller-]

This sound interesting. I’m not really one to use pro analysts, but I guess it would not hurt to try one. My portfolio is in the red waters right now

[@nicolasbenson009]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@radar0412]

Paul Ryan put together the Simpson/Bowles deficit reduction Commission, and then quickly proceeded to vote AGAINST their deficit reduction plans. 😅😅

[@Pug318]

Personally, I liked Paul Ryan but when he was speaker of the house, he gave President Trump budgets that added $1 trillion deficit. He’s no better than the rest of the politicians and when he had his power, he added to the deficit just like they all do.

[@ronsilva7394]

This man orchestrated the mess we are in today .

[@enhancedutility266]

Right it could have been fixed 2011-2012

[@KK-pm7ud]

Did he? Or was it the Koch's?

[@jamesklaatu9359]

Been decades in the making.

[@martinpalm5]

@@enhancedutility266 which was the best time to fix it. Covid was the last nail in coffin.

[@willrose5424]

Proxy wars

[@GrahamTube4u]

2 years ago I watched him in an interview say America will never default on its debts.

[@marko6657]

Ryan had many times to fix the government debt problem and did nothing. Can’t complain now.

[@GrantDWilliams82]

It's easy to complain about how nobody on the Hill has the guts to talk about entitlement reform... when you're not on the Hill anymore. This guy was everything he just criticized... when he was there. Don't let him lie to you.

[@enhancedutility266]

Yeah he's been in office since 1999 and the only legislation he's ever passed is garbage

[@radar0412]

Yep. Ryan voted Against HIS OWN deficit reduction Commission Simpson/Bowles.

[@bretrudeseal4314]

People being stupid enough to buy our bonds is what has enabled the Congress' spending addiction. You can't wish away this debt, you either repudiate it or you cut the budget.

[@donaldharlan3981]

That guy you're blaming for Paul Ryan on Bloomberg is much taller and meaner than the real Paul Ryan. I would never buy flowers from a person like that.

[@user-ys5qp4bq4s]

You can talk cute until the bond market gets Liz Trussed.

[@chessdad182]

35T in government debt is 35T in assets for non-government. To eliminate government debt, need to take 35T from others. Would create a depression. Review the history of balanced budgets by US government and the corresponding recessions/depressions that occurred in US history.

[@jsudlow12]

I did like at the end when he said “we can solve these problems if we have serious politics, we don’t have serious politics right now”

[@clarencehoover6748]

The Federal Reserve has only one product: Debt. The system is inherently flawed to eventually fail from the very first FRN issued with interest attached; whether or not this was the original intent is irrelevant. Even Keynes knew this and privately admitted to the eventual collapse of this scheme. Mathematically, debt can never ever be paid off; otherwise the system would implode. Rather, the debt must continue to grow and more importantly, grow at increasing rates for the system to sustain. Yes, temporary tapers can be imposed, but that is followed by a gush of currency creation to satisfy the quantity of FRNs to catch up with the required point on the underlying monetary creation curve that must be satisfied like a rigid secret foundational law of this system based on the underlying mathematics. But this Ponzi has its limit. The wall approaches.

[@id10t98]

You and Keynes couldn't be more wrong. Particularly when one entity spends $1 trillion every year under the guise of defense.

[@tjsokkerplayer]

Sounds like a very sensible and reasoned perspective from Paul Ryan. Who would have thought stable coins would be another measure to strengthen the US Dollar. But it makes sense.

[@manatee419]

Instead of cutting spending on Medicare , how about cutting spending? On government pay raises and giving money to other countries in incorporate hangouts.

[@dang328]

Thanks for helping with the debt! Helping grow it I mean

[@markburnham7512]

Issue #1 is out of control debt. How can you decide how to tax when spending is out of control?

[@ThatonedudeCR12956]

Obviously by cutting taxes for the top 1% and raising them on people making minimum wage. That's their actual answer. They are not serious people and should not be taken seriously. This has been obvious since the 80s and they are either flat out ignoring reality or being dishonest.

[@romeomargot-picquendar1281]

Well it's not rocket science, you either increase taxes to support the spending, you cut the spending, or a little bit of both. The dilemma for a politician is that both are costly politically, and since all they care about is staying in power, no one has the willpower to do anything on the issue. If nothing is done, Social Security will run out of funds by 2034.

[@robertlelis3410]

Ol Lyin' Ryan

[@craigbauer426]

I can’t tell who spun 180-degrees faster - Ryan on the Debt Crisis or Barr on Trump being technically fit to lead the country.

[@utube7917]

- *MONEY* *DOES* *NOT* *REQUIRE* a ledger, just to simply exist. - Ledgers are just an optional service that you can use, as a record of ownership, for the money that is stored on your behalf. But a written ledger is never the money itself, because YOUR OWN money, when held personally in your own hands, does not require anyone to keep track of it for you!! - In the best case scenario, the sole purpose of a ledger is to track and trace ownership, but in the worst case scenario, it is to track and trace a population for total control. - If you have a ledger written out on paper, with no underlying physical asset, then it is just a worthless piece of paper. It's a physical claim check on nothing. If it is a digital ledger, then it is just a worthless digital record, that is a claim check on nothing. - Ledgers are clearly NOT MONEY and never will be. Its a scam.

[@nicholaselliott2484]

He had me til he mentioned stable coins

[@ThePlastic111]

How come? Do you know a lot about stable coins?

[@eliseumalo4069]

Paul Ryan should be running for President.

[@Rust_Belt_Capital]

Paul… you don’t support Trump as a “Republican” then you can’t complain with the alternative

[@douglaspmatheny]

Ryan always talks about cutting social security and taxes.

[@JscottMays]

Ryan didn't listen when Fed chair corrected his misunderstanding. Still hasn't.

[@commentaccount2750]

I don’t recall him speaking out against CARES.

[@craigcolbourn]

Debt crisis? What’s that? More like a money printing crisis.

[@briantep458]

35T DEBT

[@Whitemink32]

1 turd in the toilet

[@user-ec3rm9wr1n]

My my my ...

[@ThatonedudeCR12956]

We better reduce taxes to 0% for billionaires and use all the money we make on that for...for..what are we taxing people for again? So cut taxes and zero out spending and let America rot? Is that the answer?

[@chessdad182]

Or 35T in assets held by others including the private sector. In order to reduce it to zero, you would need to remove 35T in assets from others.

[@bleacherz7503]

@@chessdad182guy is a criminal - stole from poor and gave to the rich

[@774kblake]

GREAT idea!!! Let's listen to the ARSONIST who helped start the fire now suddenly COMPLAIN about the fire HE STARTED?!!! WTF?!

[@albertfernandez6315]

Ryan lost me with those pants

[@NPC-bs3pm]

Those socks! 🫣

[@bvssrsguntur6338]

No wonder why there is no control or focus on debt

[@DaveWells300]

Peewee Herman?

[@user-vb5in3pu3s]

Can we hear more on what he means by a debt crisis

[@enhancedutility266]

The debt has grown much larger in the size of the economy the debt to income ratio on the national day is running at 125+ percent anytime debt reaches that ratio alarm bells start to ring

[@1dantown]

Do you notice how our friend Paul here never balanced the federal budget, $15 trillion of lesser debt, ago. *_Now_* he whines about it.

[@InnocentCardGame-sz2be]

Do we need to create a mild debt crisis to prevent a major one? Strange.. scares me i even wrote that... we don't have the mental and intestinal fortitude to do the difficult things that are necessary. I don't even want to mow the grass or work hard at my job. Let alone save the world itself. People are strange.

[@KingRat71]

We need to reverse the tax cuts on the roch and business from the last 70+ years. Business used to be forced to reinvest in growth to avoid taxation on profits. With those taxes reduced now they focus on stock prices and dividends. And the rich already own over 90% of everything. They clearly dont need any tax cuts and in fact need to make up for not paying their fair share. When they own 90%+ of everything they need to be paying 90%+ of the tax burden.

[@sandburgmartin7947]

Bet he's about to write a book. This is the initializer to bump up his "initial" advance on the book.

[@stevenobinator2229]

Fed will force banks to buy, simple

[@martinpalm5]

how much did the CCP pay this guy?

[@mikemcglauflin8985]

Baitcoin; It looks like currency but it's tech based government.

[@ryanflippin1243]

Greasy politicians

[@pangmeister]

Ryan, I am in between too and I am with you.

[@lisizecha9759]

@11:50 "Bond finance the boomers" means that GenZ does three things at once: Pay the high apartment rents to create Boomer retirement income Pay interest on bonds to finance Boomer health care Put money aside for their own retirement That must be a real go-get-them attitude by these GenZs On the other hand: Have you met them

[@jro7815]

These politicians are despicable and truly hate young people. We can reduce deficits by cutting every entitlement that solely benefits the boomers and the military and just focusing on helping the younger generations succeed.

[@user-se2uv8cl4p]

Gen Z'ers have a road rage problem. They are all pissed off at the world.

[@sheabilladeau1392]

How about this? Don't tax me for medicare or SS and I will provide my own plans to take care of my family for retirement and medicare so I am not funding someone else's life. Give me back the money I put into it already that I would never see otherwise. Stop the taxes and stop benefits. It is possible. This is the way.

[@johnmccann7578]

Last quote: Healthcare entitlements are biggest drivers of our debt.

[@sandburgmartin7947]

Only the "deserving" wealthiest, like him, should get health care, right??

[@Here4TheHeckOfIt]

Military spending is the largest driver. Let's face it, people are not important to the Republicans 😂 We are nothing more than stats and numbers.

[@cerealpeer]

rofl, what?! correction: WE ARE ABSOLUTELY CERTAIN OF A CURRENTLY ONGOING CRISIS OF DEBT

[@jasondude7566]

im a democrat, and I will vote for this guy for president. Never Trump, but this guy is normal. We need normal

[@danielscott1409]

Flip why don't they just make this guy President, at least he's smart

[@PaArriba]

💯🎯

[@suresh_elonbro]

i support tax cuts but i am worried about debt crisis. i support 3 wars in 3 continents. what else?

[@babyimHOME]

Bitcoin duh

[@bluewatermiles]

Debt crisis is based on flat earther economics. Update to MMT and focus on actual issues

[@bjohns347347]

Ryan is way smarter than Trump.

[@NPC-bs3pm]

All depends on how much you secretly LOVE the Republican party🫤

[@ronsilva7394]

He lost which makes him a …….

[@NPC-bs3pm]

@@ronsilva7394Ah... a 'Loser' 😓?

[@user-vb5in3pu3s]

If the president doesnt have a plan for the debt then congress should have a plan for the debt crisis the president gets the blame but congress is who is at fault.

[@TheGenFem]

I can’t afford anymore taxes

[@billb89]

I'd say it's likely we'll see a debt crisis.

[@kingtosin]

good people in congress, wtf have they done?

[@BTC_Patriot]

Bitcoin fixes this.

[@b_easy0823]

He has all the solutions after the fact now that he’s retired. What did you do while in Congress?!!?!!? Added trillions of dollars to the National Debt while speaker under Trump’s Admin. Who are you fooling?

[@fallonmassey4714]

*Paul Ryan looking for more ways for us to cheat! We want fairness, but refuse to give it!*

[@MarekKolenda-cr8vr]

Debt ceiling limit ends in January 2024

[@lisizecha9759]

The USD is about to become unstable Stable coins are stable, because they are pegged to the USD 🙂

[@roc7880]

he forgot to mention his party repeated tax cuts led to deficits and higher debt. his solution was always more tax cuts. amazing logic indeed

[@robertj8610]

what about the government cancer of overspending my money, Einstein

[@stevechilcoat2353]

It's hard to listen to him seriously. He is so informed about tax policy and did some good things, and yet he's not going to vote for Trump? There is some kind of disconnect with this former politician.

[@upticktrade]

$Dollar is always going to be king. Betcha, he rather hold $Dollar than any other currencies. Talk is cheap. So many talk the opposite what they do.

[@Here4TheHeckOfIt]

People like Mitt Romney and Paul Ryan helped create this debt crisis. They are now sounding the alarm, trying to come off like seers 🙄

[@stone1537]

No.! You don’t saay.!

[@bkfabs]

He was part of the problem when he was in congress…now he talks tough…typical politician.

[@bleacherz7503]

Criminal should be in jail

[@surfbum8166]

Stable coins won’t save the dollar

[@expand9487]

Both party are stupid.

[@gumby7919]

Use the money you send to Ukraine and fund Social Security…it’s easy

[@gregorygreene1940]

Hard to take him seriously when he was a contributor to why the debt is so high. He's a hypocrite.

[@Alex-de8kd]

Shyster.

[@DKK]

Screw Paul Ryan

[@SingleSuccessfulMomMBA1422]

We need absolutely tariffs on foreign goods. America first, we need to protect ourselves and our workers.

[@karld6309]

8 trillion or so on the fed balance sheet. The debt has already been monetized.

[@guru47pi]

This guy played someone who cared about deficits and fiscal responsibility on TV, but made many of the worst decisions possible during the 2000's to expand the deficit with unfunded tax cuts and many other poor decisions, like blocking many other reforms. In short, he's a clown hoping no one watching has a memory of his actual career.

[@bleacherz7503]

Living lies

[@KK-pm7ud]

Why isn't this guy a choice?

[@andrewkroger701]

You did NOTHING Paul.

[@Kendye6]

gov't sucks at everything. The smaller the better. Stop taxing. Cut spending, it's absurd, taxation is already way too high and way too broad.

[@chrisslc1106]

He has literally been saying this for over 20 years, why do people treat it as news?

[@MarekKolenda-cr8vr]

Fed and Powell play political games before November election

[@tedwesthaven]

not an American, but hey republicans can you nominate this guy for president instead of Trump please

[@DaveWells300]

Nope

[@user-ly7xe5mj8z]

RINO Ryan

[@imtryinghere1]

I don't really care for Ryan, but RINO is such a pathetic label. Don't MAGA idiots get tired of using the same childish cliche to label everyone they don't like as RINO? Mitt Romney is a RINO. Nikki Haley is a RINO. Michael Steele is a RINO. Ron DeSantis is a RINO. Blah blah blah.

[@nicholaselliott2484]

He is at least bringing up the debt, many populists are closer to Rinos than this position.

[@SorosGeorg]

Bloomberg didn't mention Paul Ryan is a lobbyist for Chinese trade.😎

[@KK-pm7ud]

Where is that information confirmed?

[@christiancoronado]

He was doing well. Why did he have to bring stable coins

[@PaArriba]

He should run for office!

[@bro.radcliffe9453]

RFK jr

[@noName-kn1lx]

Mr RIno

[@sumitomoO0O]

Europe pays $8/gallon for gas...USA pays $3/gallon. Just put a $5/gallon special sales tax on gas. That will raise revenue, reduce air pollution, reduce lung cancer, reduce the oil waste. Teach a lesson to big boys who commute to their office jobs driving big trucks. This non-sense only happens in USA. Nobody has the freedom to give me lung cancer

[@user-ec3rm9wr1n]

😢..

[@drscopeify]

The problem with that is it leads to inflation on things like food and goods and driving/transportation fares so the impact hits the most on the lowest earners. People who make the least suffer the most from that kind of tax. You can have a little bit increase like $1 let's say

[@alphaomega1351]

I condemn your comment! 😳

[@screugneugneu1]

I would prefer a tax on stupid comment

[@lawrencefeldman462]

Digital Dollar 💰...bye bye Bitcoin.

[@RoastieToastie1]

Tea party dunce