Yellen: $20 trillion national debt 'should keep people awake at night'...what does she know....

You people do understand that the Fed chair has absolutely nothing to do with the debt ceiling or the level of spending authorized by congress and approved by the President that generates the national debt? And that the debt ceiling has nothing to do with anything about paying the debts the country already incurred. Your doing the equivalent of saying one should stop paying their credit card bills because their balances are too high, even though they have the full ability to do so, rather than either getting a job that earns more or spending less or both.

If you're going to rant, at least get a clue about wtf you're talking about, good grief!
 
Sig said:
You people do understand that the Fed chair has absolutely nothing to do with the debt ceiling or the level of spending authorized by congress and approved by the President that generates the national debt? And that the debt ceiling has nothing to do with anything about paying the debts the country already incurred. Your doing the equivalent of saying one should stop paying their credit card bills because their balances are too high, even though they have the full ability to do so, rather than either getting a job that earns more or spending less or both.

If you're going to rant, at least get a clue about wtf you're talking about, good grief!
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There is a connection. They can buy up all the debt and then forgive it. No more debt. Presto.
 
noddyboy said:
There is a connection. They can buy up all the debt and then forgive it. No more debt. Presto.
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Actually not, sorry. Probably worth taking a couple classes about how the nations monetary system and government works, there are some great MOOCs out there that are free that you'll probably really enjoy since you're into this stuff.
 
noddyboy said:
I am not saying they will do it...just that it is a possibility.
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Nearly everything is a possibility, it's a possibility Trump will nuke Kansas but highly unlikely so not worth spilling ink over. That has nothing to do with if the fed chair is responsible for the spending that past and current Congress' authorized and Presidents signed which caused the current debt, and even less to do with the debt ceiling which is an exercise in complete idiocy.

Basic civics lesson folks.
 
Sig said:
You people do understand that the Fed chair has absolutely nothing to do with the debt ceiling or the level of spending authorized by congress and approved by the President that generates the national debt? And that the debt ceiling has nothing to do with anything about paying the debts the country already incurred. Your doing the equivalent of saying one should stop paying their credit card bills because their balances are too high, even though they have the full ability to do so, rather than either getting a job that earns more or spending less or both.

If you're going to rant, at least get a clue about wtf you're talking about, good grief!
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You don't think that interest rates indirectly impact congress' willingness to add to the national debt?
 
WeToddDid2 said:
You don't think that interest rates indirectly impact congress' willingness to add to the national debt?
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Clearly not since they were more than willing on a number of occasions to shoot that all to hell by maintaining an arbitrary debt ceiling that would by definition cause the country to default on current debt payments we could easily afford to pay!

That aside, clearly low interest rates make debt more attractive. That in no way makes the person setting those interest rates responsible for that debt. I mean seriously, damn Capital One because they forced me to have outrageous credit card debt by offering me attractive interest rates, it's entirely their fault! Just for that, I'm imposing a debt ceiling and not paying my credit card bills, even though I easily can afford it. See how rediculous that position is?
 
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