U.S. debt ceiling: Understanding the debate #shorts

Yahoo Finance’s Kevin Cirilli breaks down the U.S. debt ceiling dilemma.

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[subnan]

USA dollars and debt ceiling is a convenient way of keeping the poor more poorer and pass on the inflation to the rest of the world by printing a currency 💵 which has no pegging and only runs on some random guarantee. USD is truly a financial terror😂

[LeanneGermann]

You don't pay off debts by BORROWING MORE MONEY. First you have to make spending cuts and stop sending money over seas.

[mightymouse]

Pay debts with collected taxes, not with borrowed money.

[edwardabraham]

So you want to raise the credit limit in order to waste more of our money rather than cut the pork and balance the budget!

[zhuljinjager]

They always bring up the core stuff that the government should be doing but never talk about the extreme excessiveness of their budget.
You don't need to cut the military you don't need to cut social security etc. Etc etc if you would just get rid of the waste and the ridiculous foreign aid that's used to cover their corruption

[margoreid]

Why don't they have the money they took from each paycheck? I paid it. Where did it go? THAT is the question.

[davidchillton]

The debt ceiling is the problem, and no one seems to want to pay just spend spend spend. Let the damn thing collapse already

[viralcontent]

To deal with usa debt celing crisis. Us will print 5 trillion dollar and whole world will face inflation because of reckless currency printing

[hanthony]

I thought it was to pay pass bills not current spending

[johnmaisonneuve]

Duh, it’s not borrowed’. This is widely misunderstood. A national gov’t, with it’s own currency and National Bank, ‘creates’ funds. The Federal Reserves sends a note (letter) to the National Bank(a gov’t entity) to put into it’s account, a sum of monies. This allows the US gov’t to make payments. It is not borrowed. By the way, funds from the Social Security Accounts are ‘lent’ to the Bank. And the SS Fund is in surplus for another couple of decades. A small increase of the SS rate would insure fund balances for an additional 30 years or more.
Read: John Weeks book, “The Debt Delusion” or Stephanie Kelton, “The Deficit Myth”. All are readable.
Beyond the so-call ‘debt’ is the wealth of the country, which is enormous of course. This ‘debt’ claim is ideological in the sense it allows the attacks on the very notion of a national government.

[kimjodoin]

Why do Repuke doners want this! It will screw with the markets and their money?

[pipefter]

Shouldn't effect soc. Sec. Since it is suppose to be a fully funded program that people pay into from their 1 at job to their last.