Three Key Ways the Debt Ceiling Could be Overhauled Before 2023 | WSJ

House Republicans are planning to use the debt ceiling, which will need to be raised in 2023, as leverage to get spending cuts. But Democrats are looking to act now in the lameduck session to prevent that.
WSJ explains three things they could do.
#Debt #DebtCeiling #WSJ

[@charles5652]

The US is the only country in the world that has a real debt ceiling

[@MrGhosthacked]

And we're the only super power.

[@EastMilk]

@@MrGhosthacked And it seems that you're awfully uneducated and stuck inside a cave.

[@jayski9410]

The sad thing is the debt limit was intended to force some discipline on congress to live within the revenue stream it gets from collecting taxes. Or more properly within its borrowing ability and maintaining a sound equivalent of a debt to equity (or earnings) ratio. But instead of exhibiting discipline, they spend all there efforts trying to game the system. And that goes for both parties. You get more spending from both the democrats & republicans, the only difference is what they spend too much money on. So since human nature has rendered it meaningless, you may as well abolish it.

[@schrom1]

exactly, is like this video forgot the obvious fourth option. Decrease the debt!

[@blitcut9712]

@@schrom1 Austerity has been tried many times. It doesn't work well.

[@Dutcheh]

@@schrom1 nearly impossible. interest payments alone would be basically the entire budget. decreasing debt also means raising taxes which i’m sure you’d be happy to pay

[@long2181998]

That not what the debt limit does.

[@maxdai7163]

2022-12-12【真相報告】 第2/2頁 （（＊即，"暗中"拿「調查」來長期壓著我，使媒體不能報導〈我只是個「很貧窮」的【一般民眾】〉＊）），因為〈秘密法庭及(秘密的)調查人員〉堅決要利用「調查」來拖時間，好來(找機會)【把我暗殺掉】來替〈司法妖魔集團〉的人員【脫罪】。+++ 為了阻止〈秘密法庭及(秘密的)調查人員〉不停地暗殺"無辜的民眾"，因此，（絕對絕對）【＊必須＊】把世界各國的（所有的）〈秘密法庭的法官及(秘密的)調查人員〉全部〈拖去槍斃〉。 ### daichs 2022-10-23 ＃＃【新真相十四X2】＃＃ 所有的「調查人員」及【主張〈繼續調查(或測試)我〉的那些「人及法官」】，他們全都參與了【找機會「把我暗殺掉」】的任務，因此，（絕對絕對）【＊必須＊】把他們全部〈拖去槍斃〉，否則的話，我必定(免不了)會被他們「暗殺掉」。+++ 〈司法妖魔集團〉不但詐騙〈台灣所有的重要人物〉的錢財，也騙取〈台灣所有的重要人物〉的信任及【情報】。真相如下述： ＃＃【新】＃＃ 所有的「調查人員」全都是【【＊敗類（人渣）＊】】。++++++ 因為，所有的「調查人員」全都知道【我是個「完全沒有任何錢財」的窮人（因此，我"沒錢"付費給任何一個人）】，也因此，所有的「調查人員」全都是利用「調查」來幫助〈(自己的集團)司法妖魔集團〉製造各種【假象、及假證據】來確保〈司法妖魔集團〉成功「詐騙斂財」及(到最後)成功「把我暗殺掉」((來確保〈司法妖魔集團〉成功「脫罪」))。 ＃＃【新】＃＃ 台灣的〈司法妖魔集團〉用【＊包圍的方式＊】執行〈〈暗中利用我(及我的真相報告)來「詐騙別人的錢財」〉〉，其目的是要【詐騙〈台灣所有的重要人物〉的錢財】，及騙取〈台灣所有的重要人物〉的信任及【情報】（（即，騙取〈(藍、綠、白、橘)政治界、大公司、大企業、醫界、金融界、媒體、、、等等的重要人物〉的信任及【情報】））。+++ 因此，【〈司法妖魔集團〉非要"把我殺死(暗殺掉)"不可】當然也是為了【遮掩】以上所述的事實真相。 ＃＃【新】【新】＃＃ 由於〈司法妖魔集團〉都是用【包圍的方式】來執行(所有的)「作惡」，來"確保"成功執行及完成(所有的)「作惡」。因此，〈司法妖魔集團〉當然也是用【＊包圍的方式＊】執行〈〈〈暗中利用我(及我的真相報告)來「詐騙別人的錢財」，及(到最後)“把我暗殺掉”來替〈司法妖魔集團〉自己成功「脫罪」〉〉〉。++++++ 為了執行「包圍」，【〈司法妖魔集團〉完全"控制"了我的「家人及親屬」】（註：〈司法妖魔集團〉當然也完全"控制"了我的「父親」）。為了執行「包圍」，台灣的〈司法妖魔集團〉（邱義仁、及侯友宜）當然也(直接或間接)操控【我的住處的「周圍附近」的人員】（（（即，他們(直接或間接)操控【我(為了日常生活)而常去的地方】的人員，例如，7-11便利商店、全家便利商店、全聯超商、藥局、社區對面的雜貨店、、、等等地方的人員，當然他們也操控【「社區」的警衛、向"我母親"租屋的人、〈所有曾經向"我母親"租「停車位」的人〉、送信的郵差、送貨(送包裹)的人員、到社區做工程的人員、、、等等人員】）））。+++ 〈司法妖魔集團〉操控【我的住處的「周圍附近」的人員】是為了「包圍我」來製造各種【假象、及假證據】（（包括：製造「與我打暗號」的假象(及假證據)、製造「外國的人員(間接)與我打暗號」的假象(及假證據)、製造「暗中寄(或送)錢給我」的假象(及假證據)、製造「有人為我"暗藏錢財"」的假象(及假證據)、製造「我是秘密組織的人員」的假象(及假證據)、、、等等））。+++ 換句話說，〈司法妖魔集團〉操控【我的住處的「周圍附近」的人員】是為了製造各種【假象、及假證據】來確保〈司法妖魔集團〉成功【利用我(及我的真相報告)來成功「詐騙別人的錢財」】，及確保(到最後)成功【“把我暗殺掉”來替〈司法妖魔集團〉成功「脫罪」】。 【〈重要附註二〉】：在我先前寫的真相報告(2022-01-12的【新增版八】)，我提到:【【〈司法妖魔集團〉為了【製造各種假象】，因此，〈司法妖魔集團〉主張"一般民眾"的〈〈【日常生活】的"行為對話用品"等等〉〉是【打暗號(傳遞信息)】的方法】】，但(事實上)上述的方法是【無法傳遞信息】（更不可能傳遞「正確」的信息）。+++ 換句話說，由於〈司法妖魔集團〉主張"一般民眾"的〈〈【日常生活】的"行為對話用品"等等〉〉是【打暗號(傳遞信息)】的方法，因此，受害者【完全不知道】有人在「打暗號(傳遞信息)」，也因此，在受害者【完全不知情】的情形下，〈司法妖魔集團〉就可(非常輕易地)成功製造出〈【與受害者(打暗號)暗中合作】的假象〉來騙取別人的錢財。同理，在受害者【完全不知情】的情形下，〈司法妖魔集團〉也可(非常輕易地)成功製造出〈【受害者與某秘密組織「打暗號」】的假象〉來誣蔑"受害者"是某秘密組織的人員；當〈司法妖魔集團〉暗中派人把"受害者"暗殺掉時，〈司法妖魔集團〉就可說「"受害者"是被秘密組織暗殺掉」來替〈司法妖魔集團〉自己成功脫罪。以上所述的事實也說明了，為何〈司法妖魔集團〉每次【詐騙錢財、殺人斂財、及殺人脫罪】全都「必定會成功」（從未失敗）。因此，主張【【＊"一般民眾"的〈〈【日常生活】的"行為對話用品"等等〉〉是【打暗號(傳遞信息)】的方法＊】】的那些人必須全部〈拖去槍斃〉。 【〈重要附註三〉】：從以上所述的事實，可以肯定，既然受害者【完全不知道】有人在「打暗號(傳遞信息)」，受害者當然也【完全不知道】有人在「(打暗號)測試自己」，因此，主張〈繼續調查(或測試)我〉的那些「人及法官」（絕對絕對）必須全部〈拖去槍斃〉。 ＃＃【新】【新】＃＃ 世界上「任何人」〈〈聲稱【與我「打暗號」】或聲稱【為我暗藏「錢財(或好處)」】〉〉，(上述)那些人（絕對絕對）【＊必須＊】全部〈拖去槍斃〉，否則，我必定(免不了)會被那些人「暗殺掉」。+++ 當然，從1999年至今，倘若我曾經向世界上的「任何一個人」打暗號，或者，倘若我曾經"請(或暗示)"【世界上的「任何一個人」(包括我的「家人及親屬」)】〈〈為我暗藏「錢財(或好處)」〉〉，(若有上述任一情事)我自願被槍斃！ ======================================== ＃＃【新】＃＃ 由於(至少)17年來，我完全沒有任何收入，我已經【【窮到（十多年來）沒錢繳〈全民健保的健保費〉】】，因此，【最重要】的真相是，(既然)我已經【【窮到（十多年來）沒錢繳〈全民健保的健保費〉】】，因此，(當然)【絕對絕對】沒有人(直接或間接)為我暗藏錢財，(當然)也【絕對絕對】沒有人與我「暗中合作」斂財。(既然)沒有人與我「暗中合作」斂財，當然也沒有人與我「打暗號」。++++++ 我曾經多次提到，【【〈司法妖魔集團〉完全"控制"了我的「家人及親屬(近親及遠親)」】】來確保成功【「長期」孤立我】（（以便(到最後)能夠順利「把我暗殺掉」來替〈司法妖魔集團〉成功「脫罪」））。+++ 由於上述事實，因此，從1999年至今，每次我看到我的「家人及親屬」時，我總會感到〈我的「家人及親屬」的表情〉顯露出「緊張(害怕)」的樣子，(但)他們卻全都【從未】說(或暗示)任何【真相(或暗錢財)】，也因此，我知道【〈司法妖魔集團〉完全"控制"了我的「家人及親屬」】（註：〈司法妖魔集團〉當然也完全"控制"了我的「父親」）。因此，(前面提到的)【【〈絕對絕對〉沒有人(直接或間接)為我暗藏錢財】】是「鐵的事實」。 ＃＃【新】【新】＃＃ 我已經【【窮到（十多年來）沒錢繳〈全民健保的健保費〉】】，加上(上面所述的)【最重要】的真相，因此，完全沒有理由〈繼續調查(或測試)我〉。因此，主張〈繼續調查(或測試)我〉的那些「人及法官」必定是利用「調查(或測試)」來執行【找機會「把我暗殺掉」】的任務（（註：(上述)那些「人及法官」必定會把"騙來的錢"歸還之後【把我暗殺掉】，因為（如此）他們就可「永遠地」故技重施））。因此，主張〈繼續調查(或測試)我〉的那些「人及法官」（絕對絕對）必須全部〈拖去槍斃〉，否則，我必定(免不了)會被〈那些「人及法官」〉「暗殺掉」。 ＃＃【新】＃＃ 【〈我自願被槍斃〉的保證內容】至今仍然「全部有效」。 ### daichs 2022-12-12 12:20 PM (台灣時間)

[@sophiaisabelle01]

We appreciate the consistency on this channel. We learn a lot from them.

[@WPaKFamily]

very sussy

[@MrGhosthacked]

No, the WSJ news paper is educational - this is not baised in real economics but populism.

[@p1sc3s4]

History repeats, and it repeats again..

[@firstpostmaster]

Elaborate

[@inthedarkwoods2022]

How about stop adding debt?

[@youtubesucks8024]

Denmark: Quadruple the debt limit, so you never reach it. United States: Challenge, accepted.

[@WJ165]

How about they stop spending like little kids in a candy store

[@kurikuraconkuritas]

why do you care?

[@TheMsdos25]

@@kurikuraconkuritas maybe he's an American sick of watching his hard earned tax dollars getting wasted.

[@Mohamed-fl9uv]

Reducing debt like any company, family, or an individual is either to increase your revenue/income (increase taxes) and/or limit the spending (budget cuts, but against which heads?). Neither which is being done in US. On top of that, you have interest applied (& accumulating!) on government’s borrowings (printing more money) because of the private,large banks involvement. Never understood why govt didn’t refuse that from banks back when this was been discussed 100 years or so ago. Absurd.

[@hans7686]

Why didn't the gov. refuse to accept loans that changed interest? Ummm maybe because no one would lend them money if they didn't get something in return? You know, kinda like how all loans work.

[@Mohamed-fl9uv]

@@hans7686 except is not like other loans. Govt is paying interest to private banks for printing money!

[@Pyrrhic.]

Congress passes spending bills then sets a cap on how much the president can borrow. LOL, it is like your company authorizing you to purchase but give you a company card with a maxed out credit line and you have to negotiate with them to increase that limit.

[@hus390]

Just do away with it. What advance economy have such nonsense??

[@enriquemercedes9519]

I like the third option but I wonder if the party that wants spending cuts would actually have a president increase debt limit or just allow the other party to increase debt limits when they hold office.

[@jeffbenton6183]

So, I'm watching this video 2 months later in the middle of exactly the same debt ceiling fight Sec. Yellen, et. al. worried about. Does anyone know why none of these options were pursued to prevent this?

[@iamthinking2252_]

because Joe Manchin wanted to work with GOP on it. We'd always done it in a bipartisan way before, why stop now, was his explanation... I for one think it just leads into trouble, but he's the pivot

[@dylreesYT]

3rd option sounds perfect. 1st is also perfectly reasonable to me, though I prefer 3. I don't think 2 is worthwhile, it's just kicking the can down the road.

[@wizaaeed]

So thats how rich people stay rich, they just raise their debt limit and take more money.

[@overlord2057]

The last Republican president to balance a budget was Eisenhower. The last thing Republicans should talk about is fiscal responsibility. Hippocrates.

[@ron88303]

Hippocrates was an ancient Greek physician. But the fact that the "Republicans" might be hypocrites doesn't mean what they are saying is wrong.

[@lucaslouzada44]

As long as the dollar is the internationally accepted currency everywhere, the debt ceiling is a silly measure that serves opposition parties. After Nixon left Bretton-Woods without any severe consequences, the real question is whether the US is ready to take a more direct position of World regulator or not, as the debt ceiling is truly useless as an economy control mechanism.

[@lucaslouzada44]

@Elena S Even if it were the case, that’s a statement I stand by and am open to discuss. “Ad hominem” stuff such as your comments are true examples of useless rhetoric - which shows, indeed, you have some bizarre sentimental affiliation to Bretton-Woods that simply can’t be put into words…

[@TaataGeo]

WSJ beating Vox with these constant mini doc- style videos #keepItup

[@moonman239]

There ought to be a law, that each year, everyone's taxes goes up by the same percentage the debt does, and that additional income goes solely to paying off debts already incurred.

[@USNAV]

The U.S. needs to utilize Cardano staking as a tool against national deficit.

[@A__KUMARSUJAY]

OK my question in this. Doesn't it mean that the more the debt, the higher the interests payment? Its not like it's an infinite money machine, is it? We have to pay our debts, and eventually wouldn't that mean higher and higher interest payments with debt interest payment constituting a larger portion of our economy? We could collapse right?

[@gbipit1]

Well here we are like 2011 ridiculous government

[@tttrphd]

Notice no one goes without a paycheck

[@michaelgodbee5361]

Spending needs to be rained in start paying debt not increasing debt

[@Mr.Williams23]

How about defund congress

[@JacksonWelch]

Modern monetary theory...

[@RetrieverTrainingAlone]

From April to August 2011, at the height of a similar debt limit struggle, the S&P 500 tanked 31 percent. In 2011, the market downturn started about a month before the deadline and accelerated as the deadline approached. Market volatility spiked as the deadline drew closer. We are still five months away from the crisis point, so market reaction is expected to remain muted in the coming weeks. In the bond market, Treasury bills with maturities in mid to late summer are starting to see a premium in their yields that may reflect anxiety about the timing of a debt ceiling resolution. In previous debt ceiling episodes, short-term Treasury bills and risk assets declined as the drama unfolded, then rebounded once an agreement was reached. Politically we are in even tougher times than 2011 in terms of a potential agreement worked out between the House and Senate.

[@vampiregamingyt8754]

I'd rather default, honestly. If the Republicans wanna try to hold it hostage, I'd rather let it back fire and have that decision destroy them

[@Darkbrandon668]

That would cause a worldwide depression

[@kensh851]

Ah yes, the historical year of 2011.

[@t3ddybeats]

We can’t keep incentivizing deficit spending. The only way the U.S can deficit spend is by the FED buying its bonds with printed money. 20 years of deficit spending and QE are the primary reasons for the inflation we’ve faced

[@RoobieRhoo]

The 14th amendment, section 4, clearly states the lawful debt of the United States, "shall not be questioned." McCarthy is using the debt ceiling to cut spending on legislation voted by congress and signed into law by the president simply because they did not have the votes to defeat it in congress. The Supreme Court Perry decision further states the congress has sovereign constitutional authority to borrow money with the full faith and credit of the United States, and cannot invoke the will of the people to ignore or withdraw that pledge as it, "assumes the Constitution contemplates a vain promise."

[@BlairWaldorf2013]

Don’t you just love that as *soon* as a black man became President suddenly debt became a problem to the point of letting the country default. The reason why this country will fail is because of how it started.

[@staleydu1]

And yet, they did nothing, except spend another 2 trillion.

[@RestitutorEuropa]

Terms should start as soon as possible after an election.

[@akshay.gangurde]

Comment section is hilarious 😂

[@zephaniahmcdaniels]

How so?

[@hus390]

Just do away with it. What advance economy have such nonsense?? I say this and I'm a Republican.

[@davidb2206]

STOP kicking the ball. BALANCED BUDGET AMENDMENT. Like working families, QUIT spending more than you take in. Live within your means.

[@unfortunateson7464]

Balanced budgets? With liberals? 😂

[@WinTeRzZ47]

Debt celling, why don't just clear the debt?

[@Burnlit1337]

Wait, why does Biden not want to remove the debt limit? Wouldn't that be good overall? As long as Congress set the budget then they have already agreed to borrow; like just every other countries.

[@mhammer5]

Don't send our tax dollars to foreign countries. Make Americans first and priority one.

[@gian19791]

U.S. national debt 31 trillion vs bitcoin??? Who wins maybe gold or silver

[@Doty6String]

They have literally no choice and it’s an absolute joke

[@shroud1390]

Crisis is how the rich get richer

[@financeroyce474]

Wow…. We definitely need a debt limit

[@joshuac717]

AKA 3 things that didn't happen.

[@Joshua-Samarita]

So why put a freaking debt ceiling if you just going to increased it every year, if not month?

[@xX_HaRdBaLLz_Xx]

Honestly now are we (USA) ever going to repay are debt anyway? Just eliminate it.🔥

[@ron88303]

Why not just eliminate money and have everything for free? Easy, right?

[@MrGhosthacked]

Congress does NOT need to vote to Raise the Debt Cieling - We need to stop inflation.

[@kirandeepchakraborty7921]

Laughing Stock

[@sionem.fatongiatau8666]

21 trillion dollars in debt to who??? Jesus?

[@teddysmith8725]

Most of it is to American taxpayers in the form of low-interest bonds. A few trillion is to China.

[@auro1986]

only way is increase corporate tax

[@camd6102]

Audit high income earners (esp. top 1%) and when under-reporting is found, get them to pay full taxes / back taxes / penalties for under-reporting of income.

[@davidb2206]

That's stupid. YOU are the corporate tax. Everything you buy and consume will include it. Why don't YOU just increase your own tax payments then to the Treasury? Nobody is stopping YOU from paying more. Just write that check. Today.

[@davidb2206]

@@camd6102 That won't work. Because they are the ones paying the lobbyists. As long as political campaigning requires MONEY and lots of it, the lobbyists will win against you. You have "bought and sold" politicians directly because YOU are so stupid as to fall for it and vote that way. Look at AME churches (who pay NO tax).

[@eric_clover]

The greatest lie Republicans told was convincing the country that the debt amount matters so much. It matters as much as its relativity to GDP. And relative to our GDP, it's fine.

[@strategygaming5830]

The us owes more than the gdp every year. How is that fine?

[@eric_clover]

@@strategygaming5830 it isn't by a lot though. We'd be in real trouble if it were higher. It's manageable

[@ron88303]

@@eric_clover Looks like economics is not your strong suit.

[@eric_clover]

@@ron88303 Bachelor's in economics, take the L

[@ron88303]

@@eric_clover If you say so, but wouldn't have guessed it by your comment.

[@cdd1craig]

Maybe the reds are right on this one . . .

[@fatehyabali]

Af

[@citylumberjack9169]

The real problem is that no one wants to make realistic economic proposals for a long-term lowering of the national debt. The only REAL solution is raising the immediate limit but placing a requirement that it is frozen, let's say 10 years in the future - and then making it LAW that Congress act to enable a balanced budget by that time. The government collected roughly $5 trillion in 2022, and spent $6.5 trillion, adding about $1.5 trillion to the debt (for a total nearing $31 trillion). The debt service on that amount runs about a half-trillion dollars a year; just the 'minimum payment' without reducing the balance. The proposed capital gains taxes - while clearly fair - would only raise about $10 billion a year in additional revenue (some estimates place it as high as $30 billion a year ... which is lots of money but not scale enough to make a change in this argument). Corporate subsidies run about another $100 billion a year - some of which are desirable, some of which (petrochemicals, I'm looking at you) are not. Again a nice chunk of change, but wildly insufficient to cover the $1500 billion deficit annually. So where exactly can you cut costs, or increase revenues, in such amounts to make a real difference???? For all who say it isn't possible ... it was managed during the Clinton administration - so why should it be so impossible now?

[@allensu9363]

I find it crazy that Congress and the president tries to stop itself from spending money.

[@ron88303]

They are not very effective at it.

[@nunezinkgaming]

This is stupid, the govt is in too much debt and will default at some point even i have better finances than the govt

[@ravindertalwar553]

Almighty God will set everything right 👍

[@kurikuraconkuritas]

lol no

[@kelvin-zh9fm]

Which god? Zeus?

[@jimmymiller3964]

There's no debt ceiling! If there's a debt ceiling how come we're giving billions and trillions of dollars to other countries ,if we don't have any money to be given away?

[@ron88303]

You might want to read some books on it.

[@alandurier]

What about giving land to everyone, delete debts and share the wealth and reset with justice for everyone to start again.

[@jefreturcios9599]

They do that in China

[@johnl.7754]

They US dollar won’t be worth anything and all credibility will be lost

[@davidb2206]

Wasn't that a song by The Guess Who around 1970? "Share the land"? Funny, none of the members of The Guess Who have given away THEIR land. Reminds me of Putin.

[@TheMsdos25]

@@jefreturcios9599 lol China doesn't just _give_ land away. The government owns all of it and leases it out for decades at a time.

[@ismailhamza619]

I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market. i was at a seminar and the host spoke about making well over $3.5M within a short period of time investing in Cryptocurrency. i need to know how to go about it.

[@avaviel]

Scam conversation. Don't send messages or money to the people in this conversation. They are liars.

[@ismailhamza619]

there's a lot of money to be made in crypto. I been trying to stick with index funds. I feel this new interest rates hikes could crash this economy. I'm looking out for a better investing strategy, I have a lump sum that inflation is steady eating up. i need help.. How do I reach him?

[@avaviel]

@crypto Hulk scam conversation. Please stop posting these. Don't send messages to these people.

[@ismailhamza619]

@crypto Hulk Ok, just found his website, impressive, Thank you.

[@avaviel]

@@ismailhamza619 more scams

[@308pof]

At some point we need to pay the debt. It has to be soon and we are all Going to pay the price. Or it's going to get so bad it can't get paid then we are doomed.

[@bigbrotherisasob]

It doesn't matter. It is irrelevant, and has been for decades.

[@unfortunateson7464]

Typical democrats 😅

[@jamuojisan]

US' debt limit is like an alcoholic's beer limit.

[@bog6106]

[@mattedwards5847]

Wouldn’t be surprising when they do it, because let’s face it, they will

[@e.sanoop110]

Since the debt is so high, govt has no choice but to keep raising the debt limit forever. Is there any alternate way to avoid recession without printing more money? Also govt wouldn't risk defaulting putting the entire world economy in danger.

[@markmaugle4599]

Yes the alternative to raising the Debt Celling would be to reduce spending.

[@e.sanoop110]

@@markmaugle4599 not a good idea. It will reduce/stall growth, raise taxes, reduce consumption and standard of living, thereby leading to a recession.

[@guardianoffire8814]

Currently the United States congress makes a list of programs and policies that the presidential office must complete which means they only way to complete the tasks are to fund with credit. There would be no debt ceiling if congress was also required to providing the funding through raising taxes. There would also be no military adventurism abroad if taxes had to be raised.

[@camd6102]

@@markmaugle4599 Incorrect. The debt ceiling is raised to pay for spending laws/acts meaning they're already authorized for spending but will exceed the current spending allowance. Not raising it could trigger a default on bonds which are used to finance US debt and would trigger a lowering of the US debt rating making the cost of borrowing even more expensive and thus worsen the financials costing the US even more.

[@Jebusmike3]

@@camd6102 Sounds like they need to keep the debt limit in mind before making spending decisions.

[@philthy941]

Our financial system is run by a bunch of clowns

[@jaywilldoit]

I wish Nancy could give me some stock tips so I can rework my debt ceiling. She’s 100 years old, why does she need and how does she have $200 million?

[@kapildevneupane8072]

Is it even possible for Democrats to pass this? Wouldn't Manchin just vote (with the Republicans) against the bill to raise debt ceiling? If so the bill won't pass as the votes tally would be 49 (yes) -51 (no).

[@MattCRHughes]

Let's just abolish the debt ceiling & let the Modern Monetary Theorists have their way . . . what's the worst that could happen?

[@MattCRHughes]

and before anybody @s me, I obviously don't actually believe this.

[@Aviator526]

What’s the point of having a debt limit if you just keep raising it?

[@Commando303X]

Well, as of April 20th, 2023, ~9:45 P.M., E.T., I guess this video nailed it.

[@brianwhite3428]

It's not like "Let's Go Brandon", "Let's Go Brandon" Has done anything

[@marcjulmis4746]

Raise your hands ✋️ if you think some of our political systems or policies are just a joke...

[@Nicolas-uu3jr]

why is female lookin SBF your main speaker on this ? :D

[@josidasilva5515]

Reduce the government size, they don't work for the people anyway.

[@Ket246811]

Nice 👍🏾 Did you comment that from a phone using the internet which was funded and developed by the government? I hope you aren’t missing any work in doing so. If you are, you may want to get on government funded transportation or take your privately owned car and drive to work on government funded roads. Hungry or thirsty while on the job? No problem! Grab a bite to eat at a restaurant nearby that has received a 100 in cleanliness and operation by a government ran agency. Then you can wash it all down with some water out of the water fountain at your job which comes from a government operated water treatment facility. 🤦🏾‍♂️🖕🏾

[@josidasilva5515]

@@Ket246811 You live in your own universe. Just find out how much do you owe and where has that money gone...

[@Natanel-Alers]

Why is there no downside to eliminating the debt limit, Please WSJ be more informative, this a careful topic and you guys are simplifying this complex topic

[@tylerclayton6081]

Stop making these sensationalist videos with over exaggerations and fear mongering. The US has no debt ceiling. Our currency is by far the most traded and used in the world more-so than ever before. Our economy is massive and invincible. No matter what has happened in the past we have always bounced back and remained the world’s largest economy and wealthiest country

[@davidb2206]

Not this time.

[@rickdoe6471]

why don't they fix the debt and stop bloated spending bills

[@strategygaming5830]

Then how could they give money to their donors and get re-elected and get 100k per speech private talks?

[@tonytaskforce3465]

How about the Rich and their corporations start paying tax at rates comparable to small business and individuals? I'm sick of carrying parasite toffs. 🤮

[@montiro8999]

then stop voting the same two parties again and again.

[@tonytaskforce3465]

@@montiro8999 You too.

[@davidb2206]

What small individuals? Don't you know that HALF the population pay NO TAXES?!!! Without all those "evil corporations," none of you sods would have any jobs!

[@tonytaskforce3465]

@@davidb2206 Pay no taxes? Evidence?

[@davidb2206]

@@tonytaskforce3465 That's easy. Are you that lazy? Contact either the IRS or your congressman and ask them how many Americans actually pay income tax.

[@babatunda1849]

2:50 this is probably the smartest thing Biden has ever said

[@ariqroth]

The limit does not exist. It is theoretical at best. Also, you can't default on a currency you control.

[@Dutcheh]

Yes you can. Defaulting on debt is just that. You can’t pay for it. It would potentially be an worldwide economic meltdown. Why would the government be immune to defaulting on its debt just because it controls the currency? Are you implying that every time the US has been lended money that never happened?

[@ariqroth]

@@DutchehIt sadly is irrelevant. If i controlled my personal currency that I could use to repay debt....Clearly I would make as much to pay fixed rate debt. It's not a good thing, yet the US will never not be able to service it's debt. If anything the dollar is too valuable currently.

[@ariqroth]

@@Dutcheh Also "you" as a person can default. The US will not.

[@Dutcheh]

@@ariqroth the US will not. With the debt ceiling in place it creates a scenario where they potentially can. If the treasury cannot make the different in debts to pay it can default on its previous debts. The US absolutely can default on its debt with a pointless debt ceiling. This assumes republicans and democrats don’t use the debt ceiling as a weapon and stall to the point that the treasury department is unable to do anything.

[@ariqroth]

@@Dutcheh Again, It's an artificial limit only to be used for political rhetoric. THERE IS NO CELING....in reality. And the USD is VERY strong. I'm a silver/gold bug....and I can understand that the debt is not an issue. It's only an issue when it is election time. I as a Moderate Democrat understant that the US is the leader, and government debt is not an issue. Personal Debt is a different topic.

[@eufefo]

Hope they’ll let the system blow up.

[@308pof]

If it was my family and we did this it would be called fraud and I would go to prison fir this.

[@DingoAteMeBaby]

Mitch is such a genius