Thank you stable genius Donald Trump ... Powell: U.S. debt is 'on unsustainable path,' ...

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.
Must have been the booming economy.
Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.
And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.
Once again, tax rate reductions have always increased deficits. They prop up the revenue with spending. How many times you going to be fooled? Happened with Reagan, Bush, trump... fool you again I suppose.


I don't for sure if you are just stupid or a liar -
But no.
Says the guy too stupid to see deficits increase with each repub tax cut. Glad you will keep trying to get that square peg in the round hole...
 
"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
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Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
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“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.
Powell could have made that statement anytime in the ladt 40 years and it would have been true

Did he just wake up from a long sleep?
 
U.S. debt is only bad when a Republican is in office.
Classic projection. You whined and whined and whined about Obama's spending, and yet have not said a word of complaint about Trump DOUBLING the deficit. Trump inherited a DECREASING deficit from Obama, and he immediately set to work increasing it.

The deficit is now at a trillion dollars.

So you have made it very clear by your actions that debt is only bad when a Democrat is in office.

How DO you stand the stench of your own hypocrisy?

Yep, hypocrisy sure explains why you loons want Medicare for all, free college and the New Green Deal.
 
Donald Trump is a trojan horse sent by a foreign enemy. Putin has followed this strategy throughout Europe--destabilizing the region, and reaping economic destructionism. His goal of destroying the Western hegemony is largely complete.
 
And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.
Must have been the booming economy.
Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.
And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.

Liar. They have never done that. Revenue growth after a tax cut is always slower than before the tax cut.
The first full 12 months of Trumps tax cuts actually saw negative revenue growth as compared to the previous 12 months.


Take your lies somewhere else asshole
Whether it was JFK, Reagan, Bush or Trump doing it - Revenues have always gone up.

Yes they go up, at a much slower rate than they were going up prior to the tax cuts.

For example the 5 year prior to the Reagan tax cuts Fed revenue grew at an average annual rate of 15% and the 5 years after it grew at an average annual rate of 5.2%
 
U.S. debt is only bad when a Republican is in office.
Classic projection. You whined and whined and whined about Obama's spending, and yet have not said a word of complaint about Trump DOUBLING the deficit. Trump inherited a DECREASING deficit from Obama, and he immediately set to work increasing it.

The deficit is now at a trillion dollars.

So you have made it very clear by your actions that debt is only bad when a Democrat is in office.

How DO you stand the stench of your own hypocrisy?

Yep, hypocrisy sure explains why you loons want Medicare for all, free college and the New Green Deal.
Not everyone is a dem or repub. Some of us are smart...
 
Way more than that was spent, that is just how much more was spent than was brought in.

It was spent by the US Fed Govt of which your god is the leader of.

who knows where the fuck it all went

So you bitch about the $1.3T spent on Americans but not the $100B spent paying Mexico’s filth to ruin our nation, rape, murder and pillage our people...that doesn’t seem weird to you at all huh?

The 1.3 trillion includes that 100 billion. I complain about all of it and not just the part about brown people.

Did you know that smart people compartmentalize expenses to identify and isolate the frivolous shit? Did you know that smart people bitch about frivolous spending before they bitch about practical expenses?
Does that seem weird to you?

Any spending beyond what you make is frivolous except in a time of emergency.
Our Govt is like a person earning 20 hours of over time a week and still racking up debt.
If we could magically cut off all spending on illegals our deficit goes from 1.3 trillion to 1.2 trillion.
That is not really very helpful.

Hahaha...funny shit.
You just can’t bring yourself to speak (type) like any good, real American would....But, but, but....you’re a conservative and you often speak like someone ‘right’ does...haha...ain’t that right HappyJoy ?

Yes, conservatives actually care about things like spending and the national debt. You do not which is why you are not one
 
He had to do that because -
Well he just had to do it damn it.
Must have been the booming economy.
What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.
And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.
Once again, tax rate reductions have always increased deficits. They prop up the revenue with spending. How many times you going to be fooled? Happened with Reagan, Bush, trump... fool you again I suppose.


I don't for sure if you are just stupid or a liar -
But no.
Says the guy too stupid to see deficits increase with each repub tax cut. Glad you will keep trying to get that square peg in the round hole...


I'm going to go with, your stupid with a large side of disingenuous.
 
So you bitch about the $1.3T spent on Americans but not the $100B spent paying Mexico’s filth to ruin our nation, rape, murder and pillage our people...that doesn’t seem weird to you at all huh?

The 1.3 trillion includes that 100 billion. I complain about all of it and not just the part about brown people.

Did you know that smart people compartmentalize expenses to identify and isolate the frivolous shit? Did you know that smart people bitch about frivolous spending before they bitch about practical expenses?
Does that seem weird to you?

Any spending beyond what you make is frivolous except in a time of emergency.
Our Govt is like a person earning 20 hours of over time a week and still racking up debt.
If we could magically cut off all spending on illegals our deficit goes from 1.3 trillion to 1.2 trillion.
That is not really very helpful.

Hahaha...funny shit.
You just can’t bring yourself to speak (type) like any good, real American would....But, but, but....you’re a conservative and you often speak like someone ‘right’ does...haha...ain’t that right HappyJoy ?

Yes, conservatives actually care about things like spending and the national debt. You do not which is why you are not one

Got it...they just don’t have the nutsack to address specific spending and bitch about spending on the citizens of other nations whom rape, murder and pillage Americans....Am I right?
 
U.S. debt is only bad when a Republican is in office.
Classic projection. You whined and whined and whined about Obama's spending, and yet have not said a word of complaint about Trump DOUBLING the deficit. Trump inherited a DECREASING deficit from Obama, and he immediately set to work increasing it.

The deficit is now at a trillion dollars.

So you have made it very clear by your actions that debt is only bad when a Democrat is in office.

How DO you stand the stench of your own hypocrisy?

Yep, hypocrisy sure explains why you loons want Medicare for all, free college and the New Green Deal.
Not everyone is a dem or repub. Some of us are smart...

No kidding, so all the lefty loons want the free shit...except you.
 
Must have been the booming economy.
And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.
Once again, tax rate reductions have always increased deficits. They prop up the revenue with spending. How many times you going to be fooled? Happened with Reagan, Bush, trump... fool you again I suppose.


I don't for sure if you are just stupid or a liar -
But no.
Says the guy too stupid to see deficits increase with each repub tax cut. Glad you will keep trying to get that square peg in the round hole...


I'm going to go with, your stupid with a large side of disingenuous.
That means very little from the guy who keeps trying to get that square peg in the round hole..
 
Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.
Once again, tax rate reductions have always increased deficits. They prop up the revenue with spending. How many times you going to be fooled? Happened with Reagan, Bush, trump... fool you again I suppose.


I don't for sure if you are just stupid or a liar -
But no.
Says the guy too stupid to see deficits increase with each repub tax cut. Glad you will keep trying to get that square peg in the round hole...


I'm going to go with, your stupid with a large side of disingenuous.
That means very little from the guy who keeps trying to get that square peg in the round hole..


Why is everything that you say, a lie.
 
Once again, tax rate reductions have always increased deficits. They prop up the revenue with spending. How many times you going to be fooled? Happened with Reagan, Bush, trump... fool you again I suppose.


I don't for sure if you are just stupid or a liar -
But no.
Says the guy too stupid to see deficits increase with each repub tax cut. Glad you will keep trying to get that square peg in the round hole...


I'm going to go with, your stupid with a large side of disingenuous.
That means very little from the guy who keeps trying to get that square peg in the round hole..


Why is everything that you say, a lie.
Only if you are ignoring the facts. Those tax cuts were going to pay for themselves right? Man you will believe anything.
 
I don't for sure if you are just stupid or a liar -
But no.
Says the guy too stupid to see deficits increase with each repub tax cut. Glad you will keep trying to get that square peg in the round hole...


I'm going to go with, your stupid with a large side of disingenuous.
That means very little from the guy who keeps trying to get that square peg in the round hole..


Why is everything that you say, a lie.
Only if you are ignoring the facts. Those tax cuts were going to pay for themselves right? Man you will believe anything.

I gave him cold, hard facts and he has now chosen to pretend they are not there
 
Says the guy too stupid to see deficits increase with each repub tax cut. Glad you will keep trying to get that square peg in the round hole...


I'm going to go with, your stupid with a large side of disingenuous.
That means very little from the guy who keeps trying to get that square peg in the round hole..


Why is everything that you say, a lie.
Only if you are ignoring the facts. Those tax cuts were going to pay for themselves right? Man you will believe anything.

I gave him cold, hard facts and he has now chosen to pretend they are not there
Almost like he’s one of those hacks who doesn’t want the truth... shocking
 
Pssssttttt...there can be no paying off the national (democrat) debt unless one of two or both things happen:

1. Sell Alaska back to Russia or the Canucks for at least the Obama debt....ie $10T.
2. Sell all Federal land, most of the western US and to a lesser degree the midwest.

Since spending will again overwhelm even such a large cast infusion, the only answer is to default. Trump knows this, and late in his second term will do exactly that. A year of howling creditors will be ignored and the Military will handle any foreign debtors, Ie China, if necessary. Clean slate, balanced budget amendment....problem solved.
 
Pssssttttt...there can be no paying off the national (democrat) debt unless one of two or both things happen:

1. Sell Alaska back to Russia or the Canucks for at least the Obama debt....ie $10T.
2. Sell all Federal land, most of the western US and to a lesser degree the midwest.

Since spending will again overwhelm even such a large cast infusion, the only answer is to default. Trump knows this, and late in his second term will do exactly that. A year of howling creditors will be ignored and the Military will handle any foreign debtors, Ie China, if necessary. Clean slate, balanced budget amendment....problem solved.
The situation sure is worse since rump drastically increased deficits.
 
"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
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Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
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“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.


The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP)[a] as of Q1 2014.

Financial position of the United States - Wikipedia

This was 2014. It is now 5 years later.
The net worth of the USA after subtracting national debt, and all other debt was in 2014... $123.8 trillion. Again subtracting National debt at that time of $17.8 trillion.
Today it is $22.6 trillion, a $4.8 trillion increase. OK... that means the net worth of all Americans & Businesses after paying off National debt is: $118 trillion. Geez.
 
"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
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Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.


The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP)[a] as of Q1 2014.

Financial position of the United States - Wikipedia

This was 2014. It is now 5 years later.
The net worth of the USA after subtracting national debt, and all other debt was in 2014... $123.8 trillion. Again subtracting National debt at that time of $17.8 trillion.
Today it is $22.6 trillion, a $4.8 trillion increase. OK... that means the net worth of all Americans & Businesses after paying off National debt is: $118 trillion. Geez.

How does that help with the debt? Are you proposing the Govt takes over those assets to pay off its debt?
 
"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
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Death of retirement? The old work model is disappearing for boomers, Gen Xers
The auto industry is still a boys' club at the top despite GM CEO Mary Barra's success
WW, formerly Weight Watchers, unveils new plan with more choice, less hunger and, yes, pasta
Engage, ask questions and observe when investing in stock market
'Ford v Ferrari:' Cars from the upcoming movie take center stage
Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care
Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.


The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP)[a] as of Q1 2014.

Financial position of the United States - Wikipedia

This was 2014. It is now 5 years later.
The net worth of the USA after subtracting national debt, and all other debt was in 2014... $123.8 trillion. Again subtracting National debt at that time of $17.8 trillion.
Today it is $22.6 trillion, a $4.8 trillion increase. OK... that means the net worth of all Americans & Businesses after paying off National debt is: $118 trillion. Geez.

How does that help with the debt? Are you proposing the Govt takes over those assets to pay off its debt?

No I am not. I'm just pointing out the facts that there are nearly twice as much assets as debt.

But also as part of those assets consist of USA treasury notes... nearly
As of June 2019, federal debt held by the public was $16.17 trillion and intragovernmental holdings were $5.86 trillion, for a total national debt of $22.03 trillion.
At the end of 2018, debt held by the public was approximately 76.4% of GDP, and approximately 29% of the debt held by the public was owned by foreigners.
National debt of the United States - Wikipedia
And by the way of the 29% owed to foreigners and the U.S. debt to China is $1.11 trillion as of May 2019. That's 27% of the $4.1 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $22 trillion national debt is owned by either the American people or by the U.S. government itself.
How Much Does the US Owe China?

BUT most Americans don't know that China still owes the USA and Americans (Over $750 Billion to date)
It's Time for China to Pay Its Debts to the United States
Many decades ago, China sold sovereign bonds worldwide to investors in many nations.
They sold tens of thousands of these bonds on U.S. soil to American citizens on the recommendation of our government, indicating it was a solid investment.
Over the last sixty years, China has refused to pay to these bondholders either the principal or interest on these full faith and credit sovereign bonds. (To say nothing of the hundreds of billions also owed to U.S. artists from unpaid royalties on the more recent sale of pirated CD’s and videos, but that's another story).

But currently, the People’s Republic of China owes a debt of over $750 billion to American citizens who are holding these full faith and credit sovereign bonds (many of them denominated in gold) sold to them by the Republic of China.
It's Time for China to Pay Its Debts to the United States
 

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