Posted on 06/13/2024 5:31:52 AM PDT by central_va
Treasury Secretary Janet Yellen on Thursday said the swelling national debt is manageable as long as it stays around where it is relative to the rest of the economy.
In a CNBC interview, Yellen also noted that high interest rates are adding to the burden as the U.S. manages its massive $34.7 trillion debt load.
"If the debt is stabilized relative to the size of the economy, we're in a reasonable place," she told CNBC's Andrew Ross Sorkin during a "Squawk Box" live interview. "The way I look at it is that we should be looking at the real interest cost of the debt. That's really what the burden is."
(Excerpt) Read more at msn.com ...
The national debt is increasing $1 trillion every 100 days. How can that be “reasonable” by any measure?
This woman is a lunatic....35 trillion in debt as no nation has ever survived that much debt!Wait she is a Democrat and mental illness runs deep in their blood...
So ... we're screwed.
Does she mean that the government overspending by a trillion every 90 days is sustainable?
No domestic job Economy +socialism +democrats= hyperinflation, loss of liberty, and chaos.
We need regime change and fast.
Transitory.
Janet Yellen and Andrew Ross Sorkin. I am glad I didn’t have to bleach my eyes to get rid of that image.
You’re talking about it increasing due to the deficit. She’s talking about an unrealistic hypothetical debt situation.
US federal debt plus the states and local debt over $200 Trillion.
With the government growing at a geometric rate, I don't think that 'stabilized' is a word I would use to describe the national debt.
A former chairman of the Federal Reserve and now Treasury Secretary, rarely has one person been so responsible for so much economic misery in the US than Janet Yellen.
Just another part of the freak show. This administration is full of people who have proved the Peter Principle is standard operation procedure for the left.
“US federal debt plus the states and local debt over $200 Trillion.”
....and that’s going to get paid back by Liberty, Freedom and Justice for all. /S!
Exactly. Gaslighting.
Done with joy.
Communism marches on...
With their successful elimination of all freedoms & liberties guaranteed under the former Constitution, only the reduction of future generations to abject poverty remains in order to cement this tyranny in place for the next 1000 years...
The remarkable perseverance in implementing and accomplishing the Marxist-Fabian plans and strategies, developed in the late 1800s for the destruction of the United States, ranks as one of the greatest conquests in history...
At the fact moment she said that she was going wrong. The fiscal trajectory we are on is insane.
U.S. unfunded liabilities = $216 TRILLION. And then there’s that too.
First of all, November cannot change any of this.
Second of all, at deficit levels in play, using debt/income (GDP growth) as a parameter becomes suspect, because Govt Spending is increasingly defining of GDP.
Remember the equation. GDP = C(onsumption) + I(nvestment) + G(overnment Spending) + (Exports - Imports)
If you cut G to address the deficit, you cut GDP. If you raise taxes to address the deficit, that decreases I.
Capitalism failed some time ago. Keeping the wheels turning has depended on G. Hard to accept, but that’s the way it is.
Whenever GDP is talked about, it is in terms of % growth. But instead, look at the raw value. $28T projected for 2024. That grew last year at 2.5% so last year it was $27.3T.
An increase of $700B.
But we ran a deficit of $1.6T over the past year. G was more than the decrease in I by $1.6T. Yet GDP only rose $0.7T. Why? Because Capitalism failed and ate $900B.
There is no fix for this. It’s gone too far. Regime change can do nothing for it. Regime change can only Drain the Swamp. That is the only agenda.
Yep!
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