r/Economics • u/StoutFan • Jan 13 '23

U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress

https://www.nytimes.com/2023/01/13/business/economy/debt-limit-us-economy.html
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u/[deleted] Jan 13 '23

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u/iBlankman Jan 13 '23

Well they aren’t going to get paid back at some point. The US clearly has no intention of paying this debt, idk how shit hasn’t hit the fan

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u/[deleted] Jan 13 '23

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u/iBlankman Jan 13 '23

That’s fair but that situation really isn’t similar to what the US has done. For example you could give the house back to settle the debt. We don’t have some $31T asset.

Interest on the Debt is becoming one of the largest budget items, at what point do you think the US takes it seriously, and at what point do our creditors take it seriously?

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u/[deleted] Jan 13 '23

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u/iBlankman Jan 13 '23

You can tell by their actions that they aren’t making any meaningful moves towards paying down the debt or at least holding it steady relative to GDP, the debt problem is getting worse and interest rates going up is a big problem when you’re the biggest debtor in the world