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Wonder why she only speaking up now about it. She didn't say much about it during the Obama administration.
Maybe the federal reserve should monetize it's own for the big tax cuts that are coming. She had no problem with monetizing the debt under Obama for the bailouts, maybe they can do the same thing for Trump's tax cuts.
Give me a break. I'm sure if you actually researched it you would find she always said it was a problem. Here is an example from July 2015 after a quick search.
Congresswoman Ann Wagner asked Yellen about the national debt. Yellen said that she sees a long-term problem with the national debt. Eventually, we'll be on an unsustainable debt path, which is mainly related to benefits programs like Social Security and Medicare. Not right now, but in the future the economy will start to see problems.
Wonder why she only speaking up now about it. She didn't say much about it during the Obama administration.
Maybe the federal reserve should monetize it's own for the big tax cuts that are coming. She had no problem with monetizing the debt under Obama for the bailouts, maybe they can do the same thing for Trump's tax cuts.
Same reason Republicans objected to the deficit under Obama but seem to be embracing expanding it under Trump.
Guilty all around. One is no worse than the other.
Wonder why she only speaking up now about it. She didn't say much about it during the Obama administration.
Maybe the federal reserve should monetize it's own for the big tax cuts that are coming. She had no problem with monetizing the debt under Obama for the bailouts, maybe they can do the same thing for Trump's tax cuts.
It was 10,000,000,000,000.00 after Bush and it was over 19,000,000,000,000.00 after Obama got ahold of it.
How much money could we recoup if we just S-canned all of Congress and started over?
Exactly! Where were her dire warnings while it was being run up? More to the point, when people were screaming warnings over the last few years where was her voice? Well, she did a perfect impersonation of a MUTE...
This is not the first time Yellen warned about the debt.
“I guess one recommendation that I would give you is that long-term budget deficits, we can see in, for example, CBO’s very long-term projections, that they remain,†said Yellen. “There is more work to do to put fiscal policy on a sustainable course. That progress has been made over the last several years, in bringing down deficits in the short term, but that a combination of demographics, the structure of entitlement programs, and historic trends in health-care costs, we can see that over the long-term deficits will rise to unsustainable levels relative to the economy."
Government is dependent upon the bankers. The American citizens over the decades have given this authority to the government unchecked. The companies bailed out became "too big to fail" because of a lack of competition in the market place.
The government debt is due to DECADES of negligence by BOTH ADMINISTRATIONS and IGNORANCE OF THE MASSES.
Yes of course a 20 Trillion Dollar deficit based on a consumer/serviced-based economy with a currency being printed into oblivion with artificially low interest rates should concern the majority of Americans.
All it takes is a recurrent 2008 episode and ALL OF YOUR HARD WORK AND TRUST IN THE FINANCIAL SECTOR COULD EVAPORATE WITH A CLICK OF A BUTTON.
One person I know lost 140 thousand of retirement in one day.
The problem still is the MASSES are vastly IGNORANT to what is really going on. Maybe if they utilized the resources available they could EDUCATE THEMSELVES before it's too late.
I'm losing confidence though that is going to happen.
Eventually the party will be over and things will come crashing back to reality. If we don't correct it, they will correct themselves in time.
It is inevitable, but go enjoy your $5 specialty coffees while the party lasts. It might be too late right now. Everyone is dependent upon the government.
What's worse is the majority seem to be willing to vote away their rights and grow dependent upon the government.
They are! What I wonder is why nobody on the left is talking about seriously trimming down government programs,employees and seriously curtailing spending since they're so dead set against raising the debt any more than it already has ballooned to?
Three things that accelerated the national debt under the Obama Administration:
President Obama made President Bush's tax cuts permanent. Not providing the appropriate spending cuts to balance the revenue cuts is on his administration.
Continuing President Bush's two wars. He promised to end them, but he ended only one. Not finding a source to pay for continuing the Afghan war is on his administration. Also, fighting ISIS was not balanced with an increase in revenue or cut in spending.
Passing a stimulus package to energize a disastrous economic situation inherited from the Bush Administration. It included tax cuts with spending increases to infrastructure and unemployment benefits. That is, revenue cuts combined with spending increases that added significantly to the debt. To keep an economy afloat it was arguably needed; anyway, the administration couldn't sit on the dire economic situation.
Conservatives are just as culpable as liberals regarding our national debt. Both political persuasions tell us gullible voters that we can have our cake and eat it too. We the idiots keep falling for the BS.
I'm in also. One of the biggest concepts which made me vote for Trump was his campaigning to "Drain the Swamp".
Not that I ever had any confidence it would ever happen.
Voting for an ideal..
They are all worthless.
Cut the special interests. Fire all of them and start new.
There would be a MASSIVE correction.. it would be inevitable but ultimately for the good of this country.
The problem is people have become cozy with the status quo bankrupting this nation.
Let's get fat as the consumer hogs of the world as we buy stuff with our monopoly money and ability to borrow money from other nations
The sad reality is that this has been our economic policy. What's even sadder is the number of people that buy into it.
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