Showing posts with label Debt Ceiling. Show all posts
Showing posts with label Debt Ceiling. Show all posts

Friday, August 4, 2023

US Debt And Globalization

"It was 1917 when the United States had just joined World War I. With demands for military investment growing, the US Treasury Department was in desperate need of money. Without enough of its own, the Treasury Department had to borrow it from someone but was also constitutionally required to receive congressional approval to take on debt and make financial decisions. Rather than oversee every increasingly common request and transaction, Congress figured, 'Hey, let's give the Treasury Department power to oversee their own debt! But we have to limit that so we don't get ourselves in any trouble.' 

"Thus the debt ceiling was born. It was a means to allow the Treasury Department to get money, accrue debt, and invest in everything the government needed to invest in without requiring constant approval from Congress, while still allowing Congress to control the total amount of debt accrued."

Click on the link below for a better understanding of how debt works and how it helps to bind the world together:


Tuesday, January 24, 2023

Republicans And The Debt Ceiling Simplified

"Sen. Elizabeth Warren, D-Mass., joins Morning Joe to discuss why she says the House Republican plan for the debt ceiling is about protecting the wealthy and the well-connected from paying their fair share in taxes."

Click on the link below for one of the best summaries of where the Republicans are coming from economically:

Republicans are threatening to wreck our economy to protect a wealthy handful

Labels

Choose how you look at reality wisely. Yes, it is a binary choice.

Choose how you look at reality wisely. Yes, it is a binary choice.
Click on image

SCIENCE JUSTIFIES ITSELF

SCIENCE JUSTIFIES ITSELF
Click on image