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1:20
Debt Ceiling Defined - as part of the expert series by GeoBeats. Debt Ceiling Defined We’ve all heard, and we’ve seen in the news, that our country is reaching its debt ceiling. But few of us really understand what that means, or know how it impacts us personally. So, the debt ceiling, let’s see if we can make it apply in a more familiar situation. Say in your household you have a certain number of credit cards and you have access to certain lines of credit. Well, over time, if you max out all your credit cards and all your lines of credit, basically the creditors, the banks, will say you cannot borrow any more. So that’s the situation we’re faced with as a country; and there are some who argue that we should raise that ceiling, meaning we should be allowed to borrow more, just like going to your own bank and saying, can I please borrow more, because this is a tough situation; and there are others that say we need to not borrow more, we need to focus on paying down the debt. So that’s the general situation, that’s what it means, and it’s going to take a collaborative effort to figure it out, because it’s a pretty complex problem. But we all have to work together, and it will get resolved.
15 Jul 2011
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5:48
Week in review: Scott speaks at random about a variety of topics including Amy Winehouse's passing, the debt ceiling negotiations, Chinese bioengineering, the Cyprus CDS blowout, a leopard attack and more. Check out the blog for links to the articles he mentions. *******pragmaticsurvival.weebly****
8 Aug 2011
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5:29
Congress finally passed a debt ceiling package. Joe Biden says jobs will now be a priority and president Obama seems ready to cut social security and medicare next. Cenk Uygur breaks it down.
4 Aug 2011
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2:05
The Republicans have finally have caved with a deal done and the House ready to pass the Senate’s deal that delays the debt ceiling and government shutdown till early next year.
17 Oct 2013
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7:46
How much debt does America really have? Learn about the United States Federal Debt Ceiling & Unfunded Liabilities from New York Times Best Seller Charles Goyette, author of The Dollar Meltdown. *******thedollarmeltdown****/
21 Dec 2009
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8:25
Get the early read on earnings season. Then we set folks straight on what the debt ceiling debate means to investors. Plus top picks of the week.
20 Jul 2011
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7:49
The markets are pausing today after great earnings from Apple. At this point, all eyes are on the debt ceiling talks. This will determine when the next push higher starts. Financial stocks are rallying sharply today. Graet gains from Bank of America and Goldman Sachs even after they reported sub par earnings. Bottom line is, the financial stocks were due for a bounce. They are getting it in a major way today. Small cap wise, watch ZOOM which is a play off AAPL. AAPL said earnings were big due to China phone sales. ZOOM is a China phone play. ZSTN is as well, that stock has shot up 40% in the last few days.
21 Jul 2011
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9:09
There is still a standoff between the Democrats and Republicans when it comes to raising the debt ceiling. Everyone is now wondering which side will cave in first. Failing to raise the debt ceiling has really had very little effect on the stock market as of late. Once the debt ceiling is increased the stock markets should see a short term bounce. This morning, the S&P 500 Index e-mini futures are trading higher by 2.25 to 1335.75 per contract. This is basically going to be a flat stock market open. Traders should expect volatility in the markets until a deal is reached in Washington.
26 Jul 2011
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2:51
August 2, 2011 (2:50) The U.S.Government has been in heated debate over how to deal with the debt ceiling crisis. Now for better or for worse an agreement has been reached.
4 Aug 2011
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2:05
Currency markets almost seem to expect that like most suspense movies that the ongoing debt ceiling deadline will only be resolved when there is a few seconds left on the clock.
16 Oct 2013
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8:51
Much has been said about how investors should react to the debt debate. And most of it is 100% wrong. Get our take along with top stocks of the week.
26 Jul 2011
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12:53
Clean Skies News talks to Jeff Holmstead of Bracewell and Giuilani about Senator Lisa Murkowski's amendment that would stop the Environmental Protection Agency from regulating greenhouse gas emissions. Jeff Holmstead helped write the original amendment. Senator Murkowski will speak on the floor tomorrow, January 21, about whether whether she's going to offer an amendment to the debt ceiling bill or file a disapproval resolution.
21 Jan 2010
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2:48
BY ALYSSA CARTEE ANCHOR ALEX ROZIER You're watching mulitsource politics news analysis from Newsy This Sunday... a top White House advisor says the president is ready to roll out a long-term budget. The GOP’s man-with-the-plan defends millionaire tax breaks... and analysts suggest the key to a 2012 victory is...what else? The budget. After a buzzer-beating budget compromise for 2011, the Sunday talk shows moved on to 2012. This week President Obama will unveil his long-term budget proposal. White House Senior Adviser David Plouffe tells CNN’s State of the Union the President is open to cuts, as long as they’re focused. White House Senior Adviser David Plouffe: “So the President clearly believes that we can still grow economically with smart deficit reduction but it’s gotta be smart. If we’re just going to cut student loans, cut head start, cut medical research - we’re not gonna be the country in terms of the economy that we need to be.” On Fox News Sunday, House Majority Leader Eric Cantor isn’t buying it. House Majority Leader Eric Cantor (R-VA): “I sit here and I listen to David Plouffe talk about, you know, their commitment to cut spending and knowing full well for the last two months, we've had to bring this president kicking and screaming to the table to cut spending … in my opinion, it's hard to believe what this White House and the President is saying” Part of Plouffe’s beef with the GOP’s strategy- continued tax cuts for the wealthiest Americans. But the man behind the plan, House Budget Committee Chairman Paul Ryan says- it’s necessary. “Look we have to recognize the fact that we are in a global competition. We’re competing against China and India. And when we tax our job creators more than they tax theirs, we lose - they win. We don’t want that to happen.” Democratic political strategist Donna Brazile argues Ryan’s budget isn’t serious. “The budget itself is a fantasy. It paints a rosy picture that no one will live to see based on the fact that he proposed 5.8 trillion in cuts but also comes out with 4.2 trillion in budget cuts, tax cuts, to make the Bush tax cuts permanent.” But MSNBC’s Chuck Todd says Dems should be happy about the GOP’s “extreme” budget. “Look, the Democrats, the White House is licking their chops about it. They are basically saying ‘This is great!’ They can’t believe Pawlenty and Romney and all they guys running for President have signed onto it. They say ‘whoever wanted them as a nominee, they own it.’ And they say ‘Good luck carrying the State of Florida with that.’” Finally , as bigger battles over the budget brew- CBS Reporter Nancy Cordes says- it’s time to watch the Tea Party flex its muscles. “And they also showed they were willing to go right up to the brink on a government shut-down to get their way and that’s something they may repeat when it comes to funding the government with the debt ceiling.” The next move for Congress is to decide whether or not to raise the debt ceiling, or face defaulting on the nation’s Treasury debt. According to CBS, Obama asked for a clean bill and Speaker Boehner responded-- not a chance. Follow Newsy_Videos on Twitter Get more multisource video news analysis from Newsy Transcript by Newsy
12 Apr 2011
131
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2:41
BY ALLIE SPILLYARDS ANCHOR MEGAN MURPHY You're watching multisource politics news analysis from Newsy Last week’s budget showdown was over billions of dollars. But that’s just pocket change compared to the number that matters now. $14.294 trillion. It’s called the debt ceiling. And to hear politicos talking about it- it sounds like Congress is preparing for doomsday. KAY BAILEY HUTCHINSON: “Really the debt ceiling's going to be Armageddon.” EZRA KLEIN: “The economy will go into a tail spin. It will be a catastrophe.” ERROL LOUIS: “The repercussions would be profound. They would be severe. And they would be permanent.” Treasury Secretary Timothy Geithner predicts the U.S. will hit its debt ceiling in mid-May -- which makes the need for compromise all the more urgent. So what exactly is the debt ceiling? ABC’s David Kerley explains. “It’s like defaulting on your home mortgage. Nobody would loan you anymore money without a much higher interest payment.” But CNBC’s Erin Burnett argues, borrowing is not really a necessity. ERIN BURNETT: “We are a very wealthy country. If you look at our assets, we could pay down the debt tomorrow. We choose to borrow because we can borrow at incredibly low interest rates. Our country, because we are the safest country in the world, has this ability to borrow. And to choose to borrow and to pay it down later. Other countries don’t have that choice.” Her colleague Jim Cramer warns- the debt is a serious issue. JIM CRAMER: “Everyone’s playing with fire. We’re no better than these European countries that are in trouble.” ABC’s Jake Tapper calls last week’s 2011 budget standoff a slap fight compared to what the U.S. could be facing with the battle over raising the debt ceiling. “While a government shutdown was serious, defaulting on US debt ... could mean Social Security and veterans benefits cut, a collapse of the stock market, home prices plummeting, tax hikes, a curtailing of Medicare, Medicaid, student loans, and much more.” And according to The Washington Post’s Ezra Klein - the effects wouldn’t just be short term. “Right now, the market doesn't believe that our political system would ever allow a debt default. The morning after a default happens, the market will have been proven wrong, and it will have been proven wrong permanently: If it can happen once, it can happen again in 20 years. In that world, the cheap debt that America enjoys and relies on is gone forever, and our economy is likely to be permanently worse off for it.” But don’t expect an agreement any time soon. A writer for CNN Money says... “In any case, coming to agreement on any long-term plan -- balanced or not -- is unlikely to happen in the next month. So don't be surprised if lawmakers just approve a series of small increases to the debt ceiling while the negotiations continue.” According to the latest NBC News Wall Street Journal Poll 62% of Americans say the debt ceiling shouldn’t be raised. Follow Newsy_Videos on Twitter Get more multisource video news analysis from Newsy Transcript by Newsy
12 Apr 2011
376
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3:58
BY MALLORY PERRYMAN ANCHOR MEGAN MURPHY You're watching multisource politics news analysis from Newsy This Sunday....Treasury Secretary Tim Geithner hammers home the dangers of playing chicken with the debt ceiling. And the analysts weigh in...will red and blue compromise to get the budget back in black? On NBC’s Meet the Press and ABC’s This Week, Treasury Secretary Geithner made it clear- using the debt ceiling as a political bargaining chip is like playing with fire. Treasury Secretary Timothy Geithner: "We’d tip the U.S. economy and the world economy back into recession, depression. It would make the last crisis look like a tame, modest crisis... It would have a permanent devastating damage on our creditworthiness as a country." Treasury Secretary Timothy Geithner: "If you allow people to start to doubt whether the United States of America will meet its obligations, that will be catastrophic. And you can't take that risk.” Geithner stressed he thinks both sides realize the gravity of the situation- and they’ll make it work. On CNN’s State of the Union, Tea Party favorite Rand Paul says, a compromise means both sides need to give in a little bit. Sen. Rand Paul (R-KY): "There is a compromise, but the compromise is not to raise taxes. The compromise is for conservatives to admit that the military budget is going to have to be cut... Liberals will have to compromise and will have to cut domestic welfare. The compromise is where we cut not whether to raise taxes." After her interview with Paul, CNN’s Candy Crowley also talked to Democratic Senator Anthony Weiner. Here’s Crowley’s summary of where the two polar opposite senators can find middle ground. Candy Crowley (Host, State of the Union): “Let the record show that they both agreed that bringing down the debt will have to include big cuts at the Defense Department, which is a going some for the Republicans who generally don’t like that idea. So there was a little commonality but after that, not so much.” Analysts on the Sunday shows were split on whether compromise is actually in the cards. Former Michigan Governor Jennifer Granholm says, she’s hopeful. Frm. Gov. Jennifer Granholm (D-MI): “This week the president gave the parameters on the Democratic side and Congressman Ryan gave the parameters on the Republican side. So now we know what the arena is. They agree that the deficit reduction should be about $4 trillion. They agree that everyone should put entitlements on the table.” And at the This Week roundtable, economist Alice Rivlan echoes that hopeful tone. Alice Rivlin (Brookings Institute): “I have a great deal of hope for the six senators, the so-called ‘Gang of Six’ in the Senate. Three Republicans. Three Democrats. Some very serious folks... They understand and their colleagues and I think a lot of others in the Senate, that we have to come together and reach a compromise.” But ABC’s George Will isn’t convinced. He says- President Obama hasn’t given any real details about his budget plan. George Will (ABC News): “In effect he has not yet presented other than a critique of Paul Ryan’s budget. Now the both parties are clearly making a wager. The Republicans are wagering that the American people mean what they say and that it’s different this time. The president’s party is wagering that they don’t. That they’re still rhetorically conservative but operationally liberal.” Finally- as part of our running tally of who’s in, and who’s out of the 2012 presidential race- business mogul Donald Trump tells CNN’s Candy Crowley, he wishes he didn’t have to run for President- but it’s his patriotic duty. Donald Trump: "I wish I didn't have to do it. I would prefer not doing it. But I love this country. And if you ask me, what are the odds, I'll let you know some time prior to June. But I will tell you, I am giving it serious, serious thought.” But while most of the analysts on the Sunday shows agree Trump probably won’t head up the Republican ticket, Random House’s Jon Meacham sums up what’s driving the Apprentice boss’ candidacy. Jon Meacham (Random House, Executive Editor): “Trump is an emblem of the triumph of the celebrity political culture...Trump is an interesting figure. Like all populist outbreaks, it tells you something about the frustration with both parties.” According to a new survey of Republican primary voters, Mr. Trump is tied with Mike Huckabee as the second most popular potential candidates- both trailing behind front runner Mitt Romney. 'Like' Newsy on Facebook for updates in your news feed Get more multisource video news analysis from Newsy Transcript by Newsy
19 Apr 2011
499
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2:12
BY CHRISTINE SLUSSER ANCHOR AUSTIN KIM You're watching multisource business news analysis from Newsy. The U.S. dollar is hovering at a three-week low against the Japanese yen and a three-year low against other currencies. Bloomberg interviewed Citigroup’s senior currency strategist--who dishes out the deal with the dollar. GREG ANDERSON: “The dollar weakens steadily because we have a deficit of flows coming in to this country relative to what goes out in our trade deficit and speculators try to anticipate that and they’re constantly shorting the dollar and from what we saw, they actually reduced their dollar shorts this week, which means that we’re not really in an overshoot.” TOM KEENE: “We’re not overextended, we’re not in an overshoot.” GREG ANDERSON: “Yup, not yet.” ...but an MSNBC interviewee wasn’t as positive, and says the likelihood of things getting worse is very real. “The dollar is not only much weaker, but it stands a pretty decent chance of getting much weaker from where we are.” Blogger and Urban Institute Senior Resident Fellow Howard Gleckman says the real issue is the U.S.’ nearly topped-out debt ceiling. He even says any politician opposed to raising the debt ceiling should be... impeached. “Well it has to be raised, the deal is if we don’t raise the debt ceiling, we can’t borrow anymore money. And Congress has just passed a budget resolution for the rest of this year that requires us to borrow a trillion and a half dollars. It’s totally irresponsible for a politician who voted for that bill or a politician who opposed it because it cut spending too much to now turn around and say we’re not gonna increase the debt limit.” (Video Source: Fox Business) ...and the question on every motorist’s mind... will the low clams spike gas prices even higher? Cleveland’s CBS-affiliate WOIO interviewed Shell oil’s former president who says--yes. John Hofmeister: “Our national deficit contributes to the weakness of the dollar, and we buy oil in dollars. And so as the dollar depresses, the number of dollars Americans pay for that crude oil goes up, because it's coming in, not from the U.S., it's coming in from foreign countries.” Finally, a blogger for In the Money Stocks ponders when the low buck will rear its ugly head on Wall Street. “We can only wonder when the falling dollar will become problematic for the stock market. It has already become problematic for people around the world as inflation is skyrocketing.” 'Like' Newsy on Facebook for updates in your news feed. Get more multisource video news analysis from Newsy. Transcript by Newsy
26 Apr 2011
178
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