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MSNBCW The July 6, 2024

affair heats up as russia announces a new set of sanctions targeting trump critics. and stacey abrams joins me. we begin tonight with the old bait and switch, we re one week away from a potential default on the national debt, every economic expert agrees would be catastrophic for our economy resulting in millions of americans becoming unemployed. interest rates on your homes, cars and credit cards shooting through the roof and a major punishing recession, a meeting between president biden and house speaker mccarthy at the white house is still ongoing as the clock ticks down to find some agreement to avert economic disaster. treasury secretary yellen warned again of an economic default saying it s highly unlikely the u.s. will run out of cash if the debt ceiling isn t solved by this. lyndon johnson was a united states senator for 12 years, quote, if you can convince the lowest white man that he s better than the best colored man, he won t notice you re picking his pock ....

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MSNBC The ReidOut June 4, 2024 23:11:00

The economy if we don t pay for that tax cut now? i think we all know what would happen if we defaulted on our mortgage, if we tried to get another mortgage we d have to pay a premium, a higher interest rate to compensate the lender for the risk that we might default again. that s what s going to happen if we default on our debt next week. the united states government the treasury department will pay higher interest rates forever. we turnly have experience with this in 1979, there was a technical default because the treasury computers didn t work properly. ten years later, economists calculated interest rates were still higher because of that one brief incident and if we do it again because of a policy difference between the white house and congress, i think the situation will be vastly worse. ....

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Detailed text transcripts for TV channel - MSNBC - 20131014:14:19:00

Countries pull out trillions of investments in u.s. currency. the dollar becomes worthless. another scenario is less dramatic. with limited money, the treasury chooses what to pay first. the problem is treasury computers aren t programmed to do that. or scenario number three, because we ll still be taking in 70% of the dollars that we need, just wait until the coffers fill with enough and then fund one full day s payments. technically we defaulted before. as the washington post described once in 1979 due to a technical glitch, once in 1933 when fdr ended the gold standard, but those times are not today s times. since the 80s, the debt ceiling has been raised 40 times. reagan did it 17 times. the bushes 8 and 7 and clinton and obama four each. but my dollar amount the obama administration has seen the largest increases in debt. whose paul size responsible for that? well, the center on budget and ....

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Detailed text transcripts for TV channel - MSNBC - 20130301:15:04:00

Detailed text transcripts for TV channel - MSNBC - 20130301:15:04:00
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