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The Debt Ceiling: Down to The Wire Yet Again | Dr. John Hnatio
Welcome to ONN!
At ONN, our mission is to serve as an underwriter laboratory for the objectivity, integrity, and truth of the major news stories of the day. We believe that democracy depends, now more than ever, on a properly informed public. With the advent of the digital age, we face a crisis of information overload. Our goal is to help news consumers separate fact from fiction in the vast seas of information they read, see, and hear on the news media. Our objective is to help promote civil discourse on the real issues of the day by fighting the phenomenon of “fake news” and other efforts intended to mislead and misinform the public about the true facts.
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This is John Hnatio reporting for the Objective News Network.
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Today, the current national debt stands at over $31 trillion. Hopefully, President Biden and our leaders will all come to their senses and begin to act in a fiscally responsible manner that is in the best long- term interests of the American people and our nation.
Video chapters
1. 00:00 – Intro
2. 00:16 – Seven Days to Raise the Debt Limit
3. 01:57 – If the National Debt Is Allowed to Continue to Rise at Current Rates
4. 06:01 – Outro
Video references
- https://www.npr.org/2023/05/08/1174703720/debt-ceiling-standoff-economic-calamity-yellen
- https://www.reuters.com/markets/us/biden-mccarthy-start-debt-ceiling-talks-clock-ticks-default-2023-05-09/#:~:text=WASHINGTON%2C%20May%209%20(Reuters),if%20Congress%20does%20not%20act
- https://en.wikipedia.org/wiki/History_of_the_United_States_debt_ceiling#:~:text=The%20debt%20ceiling%20was%20raised,debt%20itself%20may%20have%20reduced
- https://www.thebalancemoney.com/who-owns-the-u-s-national-debt-3306124#:~:text=Many%20people%20believe%20that%20much,right%20here%20in%20the%20U.S
- https://en.wikipedia.org/wiki/2011_United_States_debt-ceiling_crisis
- https://www.bbc.com/news/business-65461927
- https://courses.lumenlearning.com/wm-macroeconomics/chapter/government-spending/
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