Cliff Notes: The U.S. is $31 Trillion in Debt - podcast episode cover

Cliff Notes: The U.S. is $31 Trillion in Debt

May 21, 202310 min
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Episode description

In this Cliff Notes, we discuss the record breaking Debt the United States has accumulated and the Federal Government are looking to raise rates.


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ure #debt #unitedstates


 

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Transcript

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.

Do what's right. Leave now. Under President Trump, America's laws, border and families will be protected.

Speaker 2

Sponsored by the United States Department of Homeland Security. Let's talk about the death ceiling. So the death ceiling was raised, and then are good. I'll be crying, y'all.

Speaker 3

Bill Old Jannet Yellen has said that the ceiling is probably going to run out first.

Speaker 2

That was pretty quick.

Speaker 3

What's the deal with this?

Speaker 4

This usually happens and at the last minute they end up raising it. But I am really concerned about our country right now, how much that we have. Let me go to the school real quick. If I go to America's death clock, we are currently at one seven thirty one point seven trillion. I mean, it's ninety four thousand dollars per citizen, two hundred and forty thousand per taxpayer.

Speaker 2

And I don't have the answer to how to fix this. I don't.

Speaker 4

I'm sure as always they'll raise the ceiling because of course, going into an election, you can't have that kind of debt looming over you.

Speaker 2

It's not good for any candidate.

Speaker 4

But I'm just when I look at the overall macro picture for US, I mean, like the money the US money supplies to like a thirteen week low. So like even when I'm going to places now, they're not taking cash.

Speaker 2

They have no coins available? Why coin shortage?

Speaker 3

What?

Speaker 2

Or are the coin stars?

Speaker 3

Like?

Speaker 4

It's amazing to see a transformation from just even three years ago, prior to COVID, how much cash was available versus how much is not available now. And then we keep going to the debt while being a war and we need new leadership across the board very fast. But I do feel like this is a as everyone will call it, like a great reset in real time, and I don't think we'll be.

Speaker 2

Able to go back from here.

Speaker 3

Yeah, I feel like that always happens, right, It's a continuous steam. The debt tailing is approach, and the debt tails approaching, and we gotta raise it. It's uproar until like the last minute, last raise, and it's like, oh it's not enough. It's like the same theme over over and over again. Yeah, nothing really changes though. Yeah, I guess we shall mount into the situation. We shall, But the real raise is silling.

Speaker 4

I mean, the debt's going to continue to get hired no matter what are and I.

Speaker 2

Talked about this earlier with FRC.

Speaker 4

So their debt alone ratio was one hundred and eleven percent, so they had more loans out than.

Speaker 2

They did ridiculous.

Speaker 3

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Speaker 2

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Speaker 3

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Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy Noman, the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return but if you register using our CBP home app and leave now, you could be allowed to return legally.

Do what's right. Leave now. Under President Trump America's laws, border and families will.

Speaker 2

Be protected sponsored by the United States Department of Homeland Security.

Speaker 4

Say capital coming in our debt ratio. Federal debt to GDP ratio in two thousand was fifty eight percent. Now it's one hundred and twenty. So our country's debt ratio is worse than First then FCR, first Republic Bank. But everyone, you conspiracy theorist Deontae, shut up, my boy, you do not know this is my thoughts Ian red panded rebellion.

Oh you know what you talk about. I will be at Citadel and JP Morgan later this week and Meta, I'm telling you to us the answer to continue to invest because even if let's say we come off the American dollar, you will still have assets that you will

be able to use in another currency. But this is scary for our debt ratio to be at in nineteen sixty was at fifty two point nine, nineteen eighties at thirty four percent, where at one hundred and twenty zero point three five percent debt to GDP ratio, So how much debt we have versus how much the country is making.

Speaker 2

We're upside down. America's a mean stock might clip that.

Speaker 3

Up, and nobody's coming to save us at all. In fact, there was and we'll talk about this money next week, there was more countries that are urging their citizens not.

Speaker 2

To use the US dollars.

Speaker 3

Yeah, well we'll add that to the to the segment last week.

Speaker 2

This is a big week. Though.

Speaker 3

It's a big week, and we kind of spoke about it before the show started. But the thread is going to potentially raise rates. What's your thoughts on it's let's give our number and we'll see what happens. I think a quarter you think.

Speaker 2

I'm with you. I think a quarter a quarter percent raised.

Speaker 3

What are the impacts of that on the market, Let's say this week, Oh.

Speaker 2

Some stocks a slide down.

Speaker 4

I mean, we'll talk about Apple lator, but I think stocks are slides just a little bit. They keep saying that they want to destroy the job market, and we haven't gotten to where we need to be.

Speaker 2

I wish they would just rip the band aid off and at one time get to the number one we need to get. I know that's not the best face policy. I don't think.

Speaker 4

Jerome's doing what he needs to do in order to get us there. I know it's a tough place because you're in between the rock and a hard place. But I would rather have Brook the band aid off and we recover from the numbers upposedly, like gradually, like die from a thousand cards. My graduates from my school being force back drop drop, Mike drop backdrop.

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christine Noman, the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fine nearly one thousand dollars a day, imprisoned and deported, you will never return. But if you register using our CBP Home app and leave now. You could be allowed to return legally.

Do what's right. Leave now. Under President Trump America's laws, border and families will be protected.

Speaker 2

Sponsored by the United States Department of Homeland Security,

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