Posted on 06/21/2024 6:15:26 AM PDT by ChicagoConservative27
During an interview aired on Thursday’s broadcast of the Fox News Channel’s “Your World,” Treasury Secretary Janet Yellen stated that the current interest burden of the national debt is at a “normal” level, but President Joe Biden wants to cut the deficit “and doing that would be compatible with making investments in the economy that are necessary to support its growth. But we’re going to have to let important pieces of the Tax Cut[s] and Job[s] Act expire.”
Yellen said, “Well, the debt — the ratio of debt to GDP — we have a very large economy, and the ratio of debt to GDP is about 100%, which is high in historical terms. But real interest rates are lower than they have been throughout much of our history. And so, right now, the interest burden of the debt is at what I would call normal historical levels. To stay there over the next decade or more, it’s necessary to contain deficits and to counter what would otherwise be an increase in the burden of the debt.”
(Excerpt) Read more at breitbart.com ...
I’m sick of these retards.
Our problem is unsolvable as best as I can see. The government is so much a part of our economy that if we were actually to shrink government to the point that we spend less than we take in, including interest, that we’d have to lay off so many government workers and private contractors that the economy would completely and utterly collapse into Lord of the Flies territory.
Ain’t gonna happen. It is going to have to have a hard and involuntary reset eventually. It seems to be the nature of civilizations.
Once you lose your reserve status, your normal debt burden will not be quite so normal, at least twice as burdensome.
This little toad has been whistling Dixie for far too long. Who the H listens to her?
She’s playing the sedation game, trying to keep the population asleep until she can cash out with her indexed pension.
A normal national debt interest would be zero. I know that, and I went to a third-rate MBA school, unlike Ms. Yellen.
“It is going to have to have a hard and involuntary reset eventually. It seems to be the nature of civilizations.”
You nailed it. And it’s gonna hurt. Bad.
I’m convinced that she’s an animated carcass at this point, like Joe.
Does she have a speech impediment, or is she as stupid as she sounds?
It’s not that simple. The globalists want us taken down as a holdout beacon of freedom—and then the Chinese don’t want to put up with the previous residents when they move into their cleaner and more fertile new land.
She is every bit as stupid as she sounds and more. That is why she is there.
Yellen is somewhere between an imbecile and a financial criminal and should be imprisoned for her decay/destruction of the financial system. That she remains in power is ridiculous.
Agreed. Glad I’ll be dead before this all unfolds.
For a Banana Republic.
The bumblin' biden administration will be forever known
as the "don't believe your lying eyes" regime.
Stupid? No.
Lying Marxist? Yes.
Every day is a new normal.
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