Jackl Ew News Today

And what about jack lew talked about social security. is that fear mongering? >> no, we have been through this before. there is a historical precedent for dealing with social security in a situation we dont have a debt ceiling deal in hand. bill, you know the social security trust fund owns $1 trillion of treasury bonds. and so what would happen if we got to a situation where the treasury could not issue new debt. the social security administration can sell the existing bonds and use that money ...

Like tee to down grade unless the government miss a payment. >> what is the likelihood of that happening? >> it depend on who talk to. we take in 234 billion every month. we only need 18.6, in order to service the debt. jack l. ew said it is not up to him to decide how to prioritize what we pay and dont. other economist said that is your job to prioritize. the money is there to make a payment. the rest may be up to politics and interesting to watch. >> well have plenty to talk about later today....

Latest updates on this topic.

Latest updates on this topic.

Latest updates on this topic.