David Woo – Debt Ceiling 2023: Blow Up China or Blow Up the National Debt? + Fox Business | The Evening Edit – What comes Next after America hits Debt Ceiling? + Extra (1) + (2)

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Debt Ceiling 2023: Blow Up China or Blow Up the National Debt?

Published 14 jan 2023

The Day of Reckoning for the US Debt Explosion is Finally Here. With US Federal Debt Now at $ 31 Trillion, Washington is Now Spending More Money Paying Interest on its Borrowing than the Combined Research and Development Budget of the US Private and Public Sectors. Wall Street is Starting to Worry about Another Debt Ceiling Crisis that in 2011 cost the US its AAA Rating and Tanked the Stock Market. Americans will Decide this Summer whether they wants to Diffuse the Debt Bomb or Embark on A Costly Arms Race with China and Russia. The Decision will have Huge Repercussions. A Former Top Ranked Wall Street Global Macro Strategist tells it As It is. You may Not Agree with Everything he says but he will Make you Reassess Everything you Thought You Knew.

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What comes Next after America hits Debt Ceiling?

Published 20 jan 2023

Fox Business

Texas Republican Jodey Arrington breaks down The White House’s Strategy as America reaches its Debt Ceiling on ‘The Evening Edit.’

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Extra (1)

Goldman Sachs (GSN) Analysts said Weak Tax Collections So Far in April Indicate A Higher Probability that the So Called “X Date,” when the Government is No Longer Able to Pay All its Bills, would be Reached in the First Half of June. Analysts at Citi (CN) said they expected A Short Term Deal in June or July.

Reuters, April 18 2023

https://www.reuters.com/markets/us/us-debt-ceiling-deadline-could-be-sooner-than-anticipated-banks-warn-2023-04-18/

Extra (2)

Today, House Speaker Kevin McCarthy, Republican,California, is Deadlocked with TheWhite House over Raising the Debt Ceiling amid Republican Demands to Curb Spending while Simultaneously increasing the Defense Budget. At the Same Time, he’s Likely to Face Another Divisive Issue within his Caucus in the Months Ahead, Additional Emergency Defense and Economic Spending for Ukraine.

The New, Yet Familiar Political Dynamics on Capitol Hill mean the Defense Department could have to Contend with, At Best, A Flat Budget that fails to Keep Pace with Inflation or, At Worst, Sweeping Defense Budget Cuts if Lawmakers Inadvertently Force themselves into A Corner.

Fast Forward 10 Years Later and House Republicans are Using the Debt Ceiling as Leverage to Enact Steep Spending Cuts. As One of the Many Concessions Made to Win his Speakership Race, McCarthy promised the Right Most Flank of his Caucus that he would Slash Giscal 2024 Spending by at least $ 130 Billion. Those Same Members are Also Pressing him to Turn Off the Spigot of Emergency Spending for Ukraine After Congress passed $ 61 Billion in Military Aid to Kiev Last Year.

Defense News, April 11 2023

https://www.defensenews.com/congress/budget/2023/04/11/from-ukraine-to-debt-ceiling-its-a-balancing-act-to-pass-fy24-budget/

Debt Ceiling 2023: Blow Up China or Blow Up the National Debt?

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What comes Next after America hits Debt Ceiling?

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