Posted on 11/29/2017 12:12:00 PM PST by DCBryan1
With Congress wrestling over a tax reform plan that critics say would explode the government budget deficit, Federal Reserve Chair Janet Yellen said she also is concerned over the surging level of public debt.
A Senate committee passed the GOP-sponsored proposal, which would slash the corporate tax rate and lower individual income rates for many Americans.However, the price tag of the plan is in the area of $1.5 trillion at a time when the Congressional Budget Official already is projecting a deficit of more than $1 trillion in the years ahead and with the total debt level at $20.6 trillion and rising. Of that total, $14.9 trillion is owed by the public.
The Trump administration contends that the lower tax rates would pay for themselves through growth. In her semiannual testimony before Congress, Yellen was asked about a proposal that would trigger tax hikes if economic goals are not met.
The central bank chief did not specifically comment on the trigger plan but said Congress is right to be thinking about the future of the national debt.
"I would simply say that I am very worried about the sustainability of the U.S. debt trajectory," Yellen said. "Our current debt-to-GDP ratio of about 75 percent is not frightening but it's also not low."
"It's the type of thing that should keep people awake at night," she added.
(Excerpt) Read more at cnbc.com ...
Nobody in congress or anywhere in DC gave a cr@ap about the debt when the Magic Negro inhabited the White House.
But just watch what that POS John MCcain tries to pull regarding this.......
Why Yellen? According to your buddies Obama and his Delusional Lying Leftist Hypocrite minions, this is all “stimulus”...
So NOW we’re concerned about the deficit. What changed in the last year?
And of course Yellen says this NOW after being Obama’s tool for how many years?
I think her mind-freeze moment was real. She knew what they were doing.
More dysfunctional co-dependent federal governance: the feds create the problem, blame you, and say the answer is more government.
With Congress wrestling over a tax reform plan that critics say would explode the government budget deficit...Obama drone Yellen quoted at just the right time by some Partisan Media Shill? What a surprise. Neither she, nor anyone from the Demwit criminal conspiracy and rape cult expressed any concern in the eight years where Soetero and his rubberstamp increased US debt by 50%.
[So NOW we’re concerned about the deficit. What changed in the last year?]
The election of a pro-American, actual natural-born American citizen, non-Democrat as President?
(I know you were just being rhetorical)
May 2014 - Fed Chair: ‘Deficits Will Rise to Unsustainable Levels’
July 2017 - Yellen warns Congress to tackle debt in 'strongest possible terms'
February 2015 Yellen: High Debt Could Undermine Flexibility
[Who cares who it is. This is laughable and minuscule compared to UNFUNDED LIABILITIES at over 300 - 400 TRILLION.]
yep
Nobody in Congress gives a crap about the debt with Trump in the White House either.
Why Yellen? According to your buddies Obama and his Delusional Lying Leftist Hypocrite minions, this is all “stimulus”...
Answer:
Under Obama, $20 trillion debt is “stimulus” to the economy.
Under Trump its is a problem that should keep you up at night.
Great economic minds at work there in good ol’ D.C.
“$20 trillion national debt ‘should keep people awake at night”
Obviously it doesn’t keep Democrats awake at night because they know that money to pay for it can be grown on trees. Basic Economics 101 Democrat textbook theory
Jeffy the Snowflake is suddenly pretending to be ALL CONCERNED about the debt and deficits when he didn’t give a cr@ap for 8 years of Obama. It’s a thinly-veiled attempt by Jeffy to once more try to knife DJT in the back.
That's $1.4 trillion in addition to the already anticipated $7.9 trillion in deficits.
Wasn’t this loser the head of the Fed Reserve for the past several years? I just wonder if she has any culpability in this situation? Probably, she should be in prison.
“They are the foundation of America’s progressive government, massive spending, and debt-based economy.”
Progressive legislation began in Teddy Roosevelt’s administration 1901-1909. The Federal Reserve Act wasn’t law until 1913.
Gov’t spending is controlled by Congress. And so is the amount of national debt. The Federal Reserve can’t spend a cent or issue a dollar of gov’t debt.
But here we are talking about a socialist reshuffling of wealth crappy tax bill that does nothing to cut spending or bring down the debt!
Yellen is short, but small increases in the Fed funds will continue. Probably around 25 basis points in the next quarter, FOMC.
5.56mm
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