Lawrence: What if Joe Biden is doing everything right in the debt ceiling negotiations?
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- Опубликовано: 6 май 2024
- MSNBC’s Lawrence O’Donnell offers his new theory of why President Biden might be doing everything right on the debt ceiling based on experience, guesswork, and the fact that the White House has the two most experienced negotiators - President Biden and Steve Ricchetti.
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#msnbc #biden #debtceiling
Kevin McCarthy in 2017: “When you raise the debt ceiling, that’s actually paying for stuff that has ALREADY been spent.”...
McCarthy is a charlatan, a creep and a spineless liar. Nothing more. Nothing less.
These guys are so freaking nuts
Shhhhh, No Faye! Don't quote what the shameless GQP hypocrites said when it was politically expedient for them!
They just hate it when we do that and call them out lol! 😂
Wrong
He is the biggest slime ball. Its gross and he is out of his league.
Kevin is using this battle to keep his precious gavel.
Way to go Joe. Vote Blue
No mater who vote blue
Only the braindead vote blue
Yes vote for the trans. Agenda.all dems,r perverts
@@user-cj1rm5wb6e You hate America and The People that much?
No way should raising taxes on the Wealthy be off the table! Don't negotiate with Terrorists. Spending cuts on corporate Welfare and Big bailouts are the only cuts that should be made.
It's called ( THE REPUBLICAN MILLIONAIRE/BILLIONAIRE/CORPORATE SOCIALIST PARTY ) socialism for the top 10 percent
Do you not realize the higher you raise taxes on the wealthy, you reach a point of diminishing returns? Do you also realize if you confiscated 100% of earnings of the top 1% you wouldn’t come close to paying off our debt? We must stop the wreck less spending.
Biden gave away our money just like Obama did!
No way should cutting spending be off the table. No way should repurposing unspent covid money be off the table. I agree, republicans shouldn’t negotiate with terrorist
Exactly
Joe has to deal with those nasty Republicans. I will be voting for Joe two times again this election cycle!
I've personally launched my own satellite to hack the Dominion machines... 2 votes for every Dem...
Joe hides his disdain for the vile Repukes.
me too
Vote mindless traitor joe if you want him to continue stealing your money and destroying the economy
😂😂
"Functionally crazy," my favourite new phrase for describing House Republicans. Thank you, Lawrence O'Donnell.
They hurt people not help them.
"Functionally Crazy" should be included in the Clinical Handbook of Psychological Disorders lol
I prefer "pathologically insane!" to describe gop.
Except it's possible that their craziness is not just functional.
Reading some of the comments calling Biden a genius and he knows what he’s doing makes me laugh he’s a racist fool with the first stages of dementia he policies are a joke he’s killing the economy and is a sellout to foreign countries there are a ton of government agencies that could be cut from the budget that would save billions a year
As an American, I am appalled that there isn’t discussion on, “ taxation on billionaires”! Why? Rep would rather take from the poor and disenfranchised than make billionaires pay more.
TOO MANY of our representatives ARE millionaires already
I agree! Take away their loopholes and make them pay their fair share!
The next budget should include any.assiciated debt ceiling increases. Revenue budget estimates need to be more realistic and not "blue skies" , unreasonably optimistic.
There's no discussion on corporate owned MSM because they don't want 10s of millions of Americans to even enjoy the concept of that common sense idea.
CEOs nowhere want an educated, feisty populace...that's includes MSNBC CEOs!!
Thank you for your ignorant statements however you have proven that my Theory on Global Stupidity is alive and well and that you are living proof of that and that isn't Fake News!!!
Thank you so much Lawrence for your great reporting! Thank you for your courage and honesty. You do your country a very great service!
Since they are not willing to raise taxes on the rich, Biden should ask if they are willing to raise the minimum wage for workers as well.
You actually can not raise income taxes on the rich. They dont earn income like the rest of us chumps.😅
@@farmerjohn6526 Stock accretion upon sale is not earned but IS taxed.
Come on! That, too makes way too much sense, is way too logical and helpful to us as a country to raise workers wages.
Reichwingers are CONservatives that demand we all go back to the 1800s to live, when only rich, white male landowners could vote.
@Anastigmatix that isnt what most people mean when they say tax the rich.
All that does is make it so more taxes are taken out of paychecks.
Just saw this program today. I finally realized that President Biden has the experience to deal with Republicans or with any other matter that comes up. He is a smart Politician and has the years behind him as Vice President and now 3 years plus as President. Kudos Mr President!
Brilliant analysis Lawrence!! What a total delight to hear true brilliance vs. the bumbling, idiotic b.s. from McCarthy and his embarrassingly ignorant gang!!!!! Never lease us Lawrence!!
A congress that appropriates spending but does not appropriate funding is in contempt and should be imprached
So grateful to have you, with your considerable experience and insight, in front of those cameras, Lawrence. Thank you.
yes, Biden is probably one of the most experienced politicians ever. Good explanation of what's behind the closed doors Lawrence.
experienced-but INCOMPETENT
Remove McCarthy and Chaos Squad
Unexperinced politicians ever
I hope that's sarcasm. If not, you're delusional.
@@billm8250 his predecessor was BOTH inexperienced and incompetent.
I adore you, Lawrence O'Donnell. Thank you for saying exactly what I always think. We have put a good man in the Whitehouse with his advisors who unlike Trump and his cronies know what they are doing. I feel much more confident about all this! ♡
He's so humble but he's an absolute GENIUS! I've followed him for 15-20 years.
He handled inflation, gas prices, Afghanistan, Russia and China wonderfully! Not to mention Iran, how are those negotiations going anyway? Haven’t heard lately. The Russians are still negotiating for us right? I’m so glad there’s no wall in the southern border too! We like brown people, we are so superior! That sanctuary city stuff is working great!
call your doctor....he needs to adjust your many meds......fjb maga!!! STOP THE HAMMERING!!!!!!!
@@MrBreeze66 You may be a citizen, but you're certainly not an American. Inflation, gas prices, Afghanistan, Russia and China policies are exactly backwards.
Joe Biden knows what he’s doing and has shown that repeatedly that’s why we elected him in the middle of the country in chaos. I’ve been wondering what he was going to pull off thanks for your take sounds about right
And he still has the 14th Amendment in his back pocket if Kevin cant cut it.
Biden doesn't even know where he is most days. he's been a racist failure of a politician his entire life.
Joe knows what he's doing? Maybe that's why MTG wants to have him impeached
This is why I watch Lawrence O'Donnell - he always has that unique, "insider" perspective. Let's hope the debt ceiling gets raised in time. It feels like the economy is just recovering from COVID and all the other crazy stuff that happened. We can't afford to default.
As a Canadian, in regards to this whole situation around the debt-ceiling, I've had no choice but to have to sit back & just hope & pray that the best minds in the WH would find a way to divert the country from having to experience such dire consequences from what would've been an entirely made-up Republican crisis, in the end. Raising the debt-ceiling should be without question every time it comes up. Period!
Republicans using this issue to hold the entire US gov't hostage was ridiculous & frankly, it should not have even been allowed!
At this point now, it's incredibly obvious that the MAGA's could absolutely care less about what happens to America & it's people.
So I must say, how grateful & quite impressed I am with the WH coming up with this reverse manipulation kind of strategy to use on MAGA's to finally get somewhere close to getting the debt-ceiling raised. Especially considering that the entire world's economic stability is pretty much depending on it.
Anytime overspending the budget amount for a line item you approve and exceeds the debt limit. To talk about past debt incurred is to late. The expenditure should never been incurred period. Trump exceeded the budget by seven trillion dollars. This should never been allowed to happened.
The admission of one's own limits is exactly why I've watched this show for multiple years
Joe wasn't born yesterday, yet it seems like McCarthy might have been.
you are not informed, even slightly.
💯👍
You have done a great job of explaining the situation, Lawrence. Keep up the great broadcasting.
I just love that smirk Lawrence always has on his face.. I adore listening to him and Mehdi and Chris Hayes... O'Donnell is always on point!
Yeah, they're pretty good at propaganda. At times, they almost appear to be sincere. Do you find Madcow's smirk to be as off putting as I do?
@@winstonsmith6607 I haven't heard propoganda from the anchors I named that I enjoy watching... Just because lies are much more entertaining than the truth to people like you perhaps you should stay over on Fox and leave this stuff for the adults...
@@winstonsmith6607 no - because we arent propagandized puppets who are unable to fact check information and use playground insults to make fun of people smarter than you.
sucker carlson made millions lying to the sheep.
@@winstonsmith6607 What evidence do you have that suggests that any of this is propaganda? They state facts, express their opinions and provide evidence for things. Nothing they say isn't verifiable, and any opinions they offer are opinions and can be taken any way the viewer/listener sees fit.
Brilliant. Makes perfect sense. Biden has been doing this his whole career. Let your opponent think they won.
Bidens approval rating is 33%. Let that sink in.
I get what you’re saying, still wish all this was happening in February ya know? Hearing all this makes me feel a bit better, lets hope you’re right and things start going faster.
Isn't it refreshing to hear political commentary from someone who isn't a habitual cynic and who actually educates his audience about things they didn't know rather than just deliver shots of dopamine to viewers.
That's actually a good argument
@@mattalford3932 i appreciate that.
@@blaisemacpherson7637 i know right? Made me feel a bit better lol
@The ShakyGamer congress approved budgets it knew exceed the amount of money the government has. It knows the executive branch will have to borrow, and therefore repay debt. The 14th amendment section 4 is pretty clear. The validity of the public debt authorized by law shall not be questioned. So it also knows the executive branch is constitutionally required to pay the debt.
Thank you, Lawrence. This is deeply insightful and reassuring. Appreciate your humility and ability to adjust your thinking, as well.
Experience matters, this is why I voted for Joe Biden, and this is why I will support him in 2024.
Hear! Hear!
I love Dark Brandon.
Thank u, you are correct
Lawerence, thank you for the masterclass.
Of course, thanks Joe
We are in un-charted territories again,, with a Dysfunctional GOP run by MAGA Fools with a self serving political agendas. We need a smart leader, Biden knows Washington
When congress approves a bill and it exceeds the limit then it implies that they have approved raising the debt ceiling
The house passed the bill a month ago.
They might have grasped Katie Porter's latest whiteboard lesson?
Yes they might have Kevin McCarthy's budget bill but Mitch McConnell never brought it to the floor.
@@salortiz6548I don’t think anyone considers the Fascist Radical Right Wing Communist Loving, Clown Carnival, House Committee, passing what they passed as a “Bill” !
What they passed is considered more of a laughable kidnapping letter by the
Agolf Shitler’s, embarrassing Ignorant Cult Committee Members !
When they take an oath to the Constitution we expect them to keep it, and that includes the 14th amendment. MAGA traitors play by their own rules though.
The fact that Joe has to go through so much mental gymnastics with these jokers is ridiculous
Wow, another amazing analysis. So much insight and information. Thank you, Lawrence. Go Joe!
Thanks Lawrence for info regarding the debt ceiling it’s nice to feel Joe Biden can resolve issues that affect our country glad I voted for him.
How is Joe Biden, or anyone going to pay our debts?
It is mind boggling to think that the 14th Amendment has been in the Constitution since 1868, nearly a half Century BEFORE the Debt Ceiling Law was passed in 1917, and yet, the SCOTUS has never ruled on whether the Debt Ceiling is CONSTITUTIONAL OR NOT, under the 14th Amendment, which states: The validity of the Public Debt of the United States, authorized by law. . . . shall not be questioned."
The Supreme Court doesn't choose cases that aren't brought before it by some party involved in the issue. Since nobody has brought up the question of if the President can raise the debt ceiling unilaterally by invoking the 14th Amendment and ignoring that law before now the Supreme Court hasn't needed to weigh in.
this is Biden's fault.
ppl were suggesting he take this to court months ago.
while Lawrence makes a good point, we're still looking down the barrel of massive economic turmoil because of an unconstitutional law.
who cares what the Supreme Court says after revelations of their Corruption. Let them enforce their rulings if they can
Agreed and from what we are all seeing now with all the questionable supreme court justices we need something like this 14th amendment only difference is it will be done at the will of the people especially when they commit questionable behavior that isn't honorable, that will result in being discharged and depending on just what it pertains to they must forfeit all the perks of having held that position.
You're desperate to over spend.
Bless you Lawrence!!!!!
JB isn't playing chess, he's playing ju jitsu. it's truly beautiful to see.
he's still problematic, but i respect this hustle of his.
I think he isn't playing with a full deck
I agree.
@@farmerjohn6526
....and trump and the republicans are? Please.
@@charlie-obrien 🤣 who knows anymore
He’s not problematic. Do your homework. He’s the only thing standing between us and the end of this country as we’ve known it. The hounds are at the door,or have you not noticed?
Very clever. At the end of the day I'd take Biden as my negotiator over McCarthy any day of the week. Biden is the most experienced person to hold the office of President in our history. He knows what to do.
He's the best Prez you've had in many years. I've said it before but this warrants a repeat performance, I ❤ your Prez; you're lucky to have someone with his experience.
But, if you gave your credit card to your kid...and they maxed it out...oh never mind 😮😅
What are his accomplishments in his very long “experience”?
@@salortiz6548 Now, name me your Orange Leader's accomplishments?
@@clementrawlins9151 Are you actually trying to insinuate that President Biden has maxed out our debt? If you are, lol, wow....
Loved "functionally crazy."
He was being polite…. He really meant Fkn crazy!
I always love it when I'm waiting a table, and the guests get shocked by the bill when it finally shows up.
_This is not the time to scream, "Fiscal responsibility!__
You should have thought of that _when you ordered the meal!_
Exactly, it's not like the prices aren't marked right on the menu.
@@chezmoi42 A much better analogy than that stupid, "Your kid has a credit card" bullwash, yes?
You mentioned that then senator Joe Biden would listen to others in the room if they were smarter about a particular topic than he was. But he was willing to learn from, and take their advice, isn't something that I thought I would ever have to admire in a politician. Because until recently that sort of needed to be the standard. Because that is the manner in which someone who has _wisdom_ behaves.
It wasn't until Trump that we had a president unwilling to listen to others, and take their advice when needed.
The thought that a president of the US would take a; "I know more about X than the experts! I know everything and can accomplish anything very fast and very good. Because my doctor says I'm a 'very stable genius'. And I know more about the middle east than the generals do, just believe me, I do. And I can end foreign wars overnight. Just, wrapped up, boom, Russia wins." approach to foreign relations is appalling.
Zelenskyy didn't do Trump's bidding by "announcing a criminal investigation into the Biden's", in a hamfisted attempt to influence the election (you know, his _other_ "perfect" phone call 🙄), and we already know that Trump adores Putin. His willingness to believe Putin over OUR OWN AMERICAN INTELLIGENCE AGENCIES kinda gives the whole game away with regards to Trump holding Putin in such high regards.
His "ending the war within 24 hours" comes in the form of him recognizing Russia as the owners of Ukraine, and him very likely withdrawing the US from NATO.
Trump will give Putin anything he wants.. because he sees Putin's administration as a template for his own.
He doesn't want to STOP Putin.
He wants to BE Putin.
He would, without a doubt, push the Republicans to repeal presidential term limits, rig any future elections the way Putin does in order to ensure that he is never again forced to relinquish the power granted to him by holding the office of the presidency.
He is a genuine existential threat to the democracy we hold so dear in this country.
Even if you don't vote blue... Please *_DON'T VOTE RED!_*
Not voting blue is as good as voting red. Please vote blue.
Thank you for this excellent and personal report. I listened to every word you said. Well done. Love your mind.
Channa Rosenblatt I find it wonderful you have so much sympathy for the insane.
An excellent & very appreciated explanation, Laurence O'Donnell
Thank you Lawrence. We appreciate your reporting very much.
Great analysis Lawrence! We need to always keep our minds open!!!!!!
Listening to you is a real treat! Informative, professional and humble at the same time 👍👍💙💙
He's got class.
Don't forget the massive levels of dishonesty that comes from msnbc.
Lawrence O'Donnell and Rachel Maddow are both Irish and dynamic. They are my favorite NEWS people not just on MSNBC but in the NEWS business. Both are clear and concise in analysis and are not afraid to speak truth to power. I especially love how Lawrence nightly calls Donald tRUMP ''The Stupidest man in America.''
Yep, love it 😎 Also, references to his “unrelenting stupidity” always gives me a chuckle. Perfectly characterized 🤌
I thought Rachel Maddow was Jewish?
@@deanfiora4227She has both ancestries.
100%. Couldn't agree more.
My in-laws are Irish and dynamic is the perfect description. They are very intelligent and wear all their emotions on their sleeve.
Those are the same thoughts I’ve had over the debt ceiling Lawrence. I did not have the background knowledge on Steve Richetti, so I feel even more confident than I did before knowing that little bit of information!
Hello Lawrence 👋 Wow you couldn't have said it any better 👏 it give me some sense of relief 😊 👍
Marjorie Terror Greene paid $100K for Kevin McCarthy's *used* chapstick at a Republican fundraising auction.
Don't you just want to barf?
Where did she get 100,000.00?
Makes me want to VOTE DEMOCRAT !!!🇺🇸🌊🌊🌊
🤮🤮😖
For real?
She goes through chap stick quick.
Excellently explained hypothesis, great work!
Thank you for that clear thinking, K
Lawrence. I think you’re right. Biden is very smart and has a lot of experience to draw from.
And you Lawrence, are outlining one more reason why I listen to you and , Robert Reich . Thank you
I really like your comment, and feel the same about both.
The best team! And, Lawrence, you are part of my idea of the best team in journalism.
Thank you Mr. O'Donnell and staff for your work and commentary. That's a good theory.
Wow! Loved every word!
Thank you Mr Lawrence for explaining this in such detail! ❤🙏🙏🙏👏👏👏👏👏👏
Never underestimate the thinking and strategy of Dark Brandon....nothing else needs to be said.
AGREED!
Hopefully most of the crazies will be gone. I trust Joe. He's democrat not a facisist, forgive me. I'm deeply grateful.
You got that right 👍
Joe is an AMERICAN not a MAGA FACISIST.
You trust Biden?The man is so far gone he needs cue cards to have a press conference.He worked with main stream media firms to silence people in twitter and facebook.Hes ignoring the law and allowing millions of people to invade our country.He is wrecking our economy and his incompetence is getting thousands of people killed in Ukraine.Biden is a fascist
You are out of your mind.
@@MrBeetsGaming Says the one named MrBeets...
Master class of news.....💯👍
I love it Lawrence! You are a class act!
Wow! That is amazing strategy by Dark Brandon!
McCarthy's looking gaunt. This speakership seems to be taking a toll.
It's funny how selling your soul to multiple devils has that effect on a guys appearance.
he won't last much longer. as bad he is, he's not crazy enough for the Lunatics in charge of the Republican Asylum
good
He's out of his league and paying the price.
I wish he'd go away the repubs are anathema. They want so badly to take from the poor while All their rich needs are met
Lawrence thanks for a thorough insight into these issues! I’m watching from Canada and we have our own issues from the right side of our leaders.
Karen Quehl so you prefer the wrong side rather than the right side?
Be vigilant.
Canada has problems because of your left wing lunatic leaders 😅
Oh no, as an American I feel guilty...even though a democrat I feel we have really done it this time. Weve now managed to spread our errors across the globe. If we have Canada fighting now, where is the hope...your like our Sweden of the west.
@@MarJo333 Keep watching...our dictator wannabe WILL NOT WIN. Hang in there cuz we need you and hopefully we can be a helpful partner...once we kick China's agenda to the curb.
Very good analysis. That is why president Biden is the best leader for our country during these troubled times. His wisdom and knowledge of politics is second to none. The saying cooler heads will prevail is so poignant for these times. The politicians all know that the debt ceiling is an enigma. This is the difference between the government and business 🧑💼 operations.
They'll raise the debt ceiling. No way these corrupt politicians would risk financial damage to their portfolio's.
Hard to tell. The MAGA Republicans really would ride us off of a cliff.
And losing donations from those rich nontax payers they gave those tax cuts to!
Don't bet on it. The Orange Cheeto and the Freedumb Circus and the uneducated base are all saying default. And McCarthy and the saner Republicans wouldn't be able to stop them. Even though McCarthy privately, doesn't want a default, but at the same time he wants to save his job. And McCarthy will put saving his job above the good of the country. McCarthy the coward. McCarthy the traitor.
and to their doners.
They would ride us off a cliff but no way would they let their donors or themselves lose their portfolio’s value.
I love listening to Lawrence. His opinion and point of view is very insightful. Thank you Lawrence 😄
Bahahahaha 😅.. direct deposit approved
Haha I literally just commented that too! Then saw yours ❤
@@SwnsasyLIAR
@@sissy-_- Yeeeea what are you, 5? My comment is literally posted for all to see dummy...
Friendly old Brit: I always enjoyed him until I found out he wrote and produced "The West Wing" so now he is my No1 political broadcaster.
In regards to the debt limit, I feel like it is the end of the month and I still have 10 bills to pay, including my mortgage. Republicans, pay the bills YOU racked up, please.
70 percent of America debt was generated with a Republican inside the Whitehouse and had control of both chamber's of congress.....
Not all was lost Republicans and Democrats passed some good bills...
All Biden has to do is put country in state of readiness invoking 14 Admenment because it puts almost 1/3 Americans into bankruptcy over there debt......
Republicans crying about Trump's debts.
We need to raise the limit because we don't have enough to pay it. We need to borrow more to cover Trump's bills.
@@MPlain and he wants loyalists in tune of 30 million it's dropped by 70 percent around the same in Foxx news losing advertisement after the Lawsuit n shares will be dropping.....
McCarthy "Spend less money" Ok you got it champ, sounds like we massively reduce military spending, you win! 🤷♂
We could save a lot of spending if we rolled back the disastrous Trump tax "cuts" that added 25% to the deficit alone.
Mr. Lawrence,you are deep in explaining your views and making me cognizant of much. Thank you!!😊
NOT EVERYONE IS MADE WHOLE AFTER A GOVERNMENT SHUTDOWN! CONTRACTORS NEVER GET PAID FOR THE SHUTDOWNS!
Never under estimate President Biden
He is The Man who finally pulled the plug on Afghanistan! That makes him my hero. Those prior guys knew it was going to be bloody chaos, and they passed the buck to Biden.
Dark Brandon rocks 😎
Don't assume Biden isn't at heart a Republican
@@jascdp121
BAHAHAHAHAHAHAHA!!!!!!
I'm laughing at your sheephood.........
He told you, everyone was "fake news", and you fell head over heels for a conman.
ENJOY!!!
Grandpa Joe by day and Dark Brandon by night. He's more than a man, he's a force for Justice...what every Republican fears the most. GET EM, JOE
Best explanation I've heard for why I never watch "Face the Nation", "Meet the Press" or any of the other Sunday morning pundit shows. Invariably, the first thing any of the pundits say is, "I think, , ," which means they're just guessing, they don't really know.
How much would be saved by cutting the benefits packages for all elected officials?
Kevin McCarty's net worth is $95 million dollars, I don't think he'll be worried about his money anytime soon.
How much of that is in stocks? If they default it's very likely the stock market will crash by 50% if reports are to be believed. Imagine how it would p'off their corporate owner/donors. They would try to spin it onto Biden but anyone with common sense can see the MAGAtGOP was at fault.
Since you got the numbers tell us all what we really want to know? Whats Biden worth?
sounds like he'll taste delicious when it's time to eat the rich. got my utensils ready
@@os10v311 a good acidic and spiced marinade, and any tough bull can be tenderized.
@@James-ux5kv 8 million. You too feeble to look that up for yourself? And that's combined with his wife.
Well. After all the people running around with their hands in the air and all their gloom-and-doom prognostications, I finally feel better about the debt ceiling negotiations. Thank you for this, Lawrence. Greatly appreciated.
You guys have destroyed this country. What do you expect? I remember when gas was 2 dollars, I remember when eggs were 2 dollars. I even remember when 2 dollars was 2 dollars.
5 years ago we were doing great and now we're on the brink of ww3.
Leftie- idk why everyones so icky
D Bevry how often do you ask the credit card company to increase your limit after it is already maxed out?
@@alexhamilton4985 how often do you refuse to pay the bill that comes due? Do you go into a restaurant order a meal and when the bill comes refuse to pay because you think you spent too much when you ordered? No sir.
@@alexhamilton4985 Honestly, the only time I had a credit card limit increased was when the company itself increased it because they thought I was a good risk.
@@dbevry3424 but you do not use taxpayer's money, you use the bank's money. Try paying off a 31-plus trillion dollar credit card debt instead of ignoring it and continuing to spend the money you don't have.
I think his negotiations should be a broken record, "We already approved the relavent budget, we need to pay our debt." He should announce it so any shady personal games and gains from manipulation of our stock market needs to be prevented. "We need to pay our debt on time. We are going to pay our debt payments on time. We are going to pay our debt payment on time ".
Shhhh. Don't let MCarthy see this video.
He couldn't understand it.
I love this concept! Thanks, Lawrence!
You're the best Lawrence thanks for alleviating some of my concerns and making me feel better about the whole scenario
Hopefully, this is spot on.
"...are functionally crazy when it comes to governing..." I really love when his "West Wing" writing shows up over here. Thank you, LO!
Great fiction, what a show!
Same!
Okay, i feel better. I have to trust Biden like i have for the last 2 years
you got to be joking?he IS a joke
@@billm8250 the dumpster is a cruel joke on his faithful maggots. You sir need need to realize that.
@@billm8250 let's see if he leads an attack on the Capitol then.
bot
Go Joe.
Brilliant segment, Lawrence !!!
Lawrence we appreciate you sharing your relevant experience, stating what we do know AND most importantly what we don't know. I especially like how you engage us to think for ourselves. The questions we have not asked and/or have not been answered. And, if you have an opinion you clearly identify it as.a personal opinion. Thank you for the integrity of your words
at no point have i assumed republicans where accomplishing anything that they set out to do..
Other than lying, scheming, playing bully and holding our country hostage!
They passed the bill a month ago…
They got the 4 yr investigation done over Biden crime family and or China gate
There wasn't anything there to charge Joe Biden
Republicans couldn't take pickles off a hamburger. Knowing they don't like pickles on their burger. Go figure 🤔.
Hard to believe that most of these replies support raising the limit. It's obvious who didn't pay attention in civics, math and social studies.
Hard to believe most support raising the debt ceiling??? They wrote the checks. Now they'd better make good on those checks.
Economics 101
@RattleCat who wrote the checks?
Do you enjoy sending $698 Billion in interest payments to foreign investors? The spending must stop! $13 million for gender studies in Afghanistan? $500k to teachers in Afghanistan? $180 billion to Ukraine?
Ask the next homeless person what they think, or a veteran about the crap benefits they receive.
You can't spend what you don't have, the checks shouldn't have been written.
Americans can't afford politicians kickbacks anymore.
@@phillmccracken4219 Why do you think there is no money, and why were you not whining like this when the limit was raised three times under Trump, with no preconditions?
@chez moi There is no money because these politicians keep spending it on ridiculous programs and national hand outs. I complain every time the debt is raised, no matter the party. They are basically the uniparty, they both spend like drunken sailors.
My point is everyone wants the debt raised with no thought about the $650 billion in interest we pay annually.
"Can't trust the crazies in the room" is an excellent description of the GOP.
“We’ve got them right where they want us”
They have us, right where we want to be. Don't throw me in that there briar patch.
sort of like luring the game into the trap without them realizing that there is a trap
Inbred
Right!
(Don't murder me!)😄
So basic politics as played by a veteran.
Why doesn't anyone talk about our country getting out of debt?
Because Democrats have briawnshed Americans. Americans are so stupid now they don't care about debt or even human poop on the streets
Each Democratic administration since Clinton has balanced the budget and reduced the debt. Then a Republican gets in there and they blow it all on tax cuts for the rich. This is not opinion.
Holy moley! O'Donnell is incredibly smart!
Lawrence: I think you got it right. In fact, I was having that strategic intuition myself this morning, though in a a much less analytical and experienced way than yours. My two crucial clues: (1) President Biden's continued calm and confident body language; (2) The monstrous economic horrors our country would suffer in case of default, as described in Bloomberg News. How would 66 million Americans surviving economically on Social Security payments react if those were cut off starting June 2? Before Labor Day, the torches and forks would be surrounding elected Republican politicians daily. And McCarthy knows that. His body language shows it too.
FederalDebt default is totally unacceptable. America would eventually lose its status as the worlds reserve currency to China eventually, and result in recession and huge job losses, as well as whopper interest rates.
the truth of REALITY
In comparison to literal economic collapse? Which means the same thing anyway, only to a more severe degree. Whatever you say.
Yup...
This boomer is legit. I mean it with outright respect
Whew, Lawrence, I like your take here! And I say "Whew" 'cause I've been worrying about all this. You just helped me feel better.
It's truly disturbing to me that politicians are playing games with the debt ceiling.
Great job in explaining something not exactly straight forward.
I aways look forward to Lawrence's insight
Thanks Lawrence for explaining that. I have faiith In President Biden but could not have explained all those details. I am certain, though, that he is the most qualified person of our present time to be our ultimate leader. I am exactly 3yrs. older than you and have been paying attention for a very many years.
When Lawrence first came on, I wasn't too sure about him, boy was I wrong. He explains things so I can understand and that can be challenging. He explained the art of a deal, I never thought of that.
Why is there a debt ceiling anyway?
Think about what would happen if you had a credit card with no spending limit. Cool, huh? You could spend as much money as you wanted to spend and never worry about the price. So, lets say you went shopping and kept buying everything you wanted.
Now, imagine that every one had the same kind of limitless credit card. Everyone would go shopping and pay any price for what they wanted. But now, the stores realize that since so many people have these unlimited credit lines, the store can raise their prices to whatever they wanted! So, when you go to buy a loaf of bread with your unlimited credit limit credit card, instead of it costing $3, the store now wants $500 for it. You don't care, bc you have unlimited credit.
The problem that arises is that without a "limit," the economy falls apart. Money loses it's value because it is unlimited. Prices inflate because supplies are not available to meet the demand for those supplies. That is called inflation.
The government, all of the Congressmen (and congresswomen) must restrain themselves from using their voting power to spend money as if it was just a credit card without any spending limit or the same financial crisis will befall all of us.
Every congressional payout must be covered by the revenue the gov't brings in via taxes. Taxes are just a means to redistribute funds from those who earn money to those entities that are voted to get that money.
There is a limit. Congress needs to spend less, tax less from the working class, and pay the bills that it has already approved. When revenues are less than taxes collected, The Fed loans money to the gov't to pay its bills IF the debt ceiling is raised, or the gov't doesn't raise the debt ceiling, bills that were created (by Congress) don't get paid, the US loses it's credibility (like a bad credit score) and everyone suffers.
Previous congress passed a "Debt Ceiling to limit what we'll spend", and when created it meant that Taxes had to increase to back the loans off from that limit.
When a Budget is made you list out expenses and when each expense's date comes out you pay it. All expenses are based on a regular monthly / yearly bill and comes out as regular, and if you run over you have to get a loan to pay the difference then adding repayment of the loan to the monthly budget. When a government does this they issue Bonds that pay back over a period of time based on the guarantee that they have always paid before and are the Government so can gain money easily. The More in Debt a country is the more nervous that a default could be possible if something destabilized the country.
To a country Taxes are Income, Bonds are Loans, and Bills passed by congress are Bills that they have to pay.
When Talking about the Loans you have a few things that you need to be aware of. A Deficit is when the Income of the Country is lower than the amount that needed to be paid that year specifically and means that Taxes need increased or new spending needs curbed. A Surplus is when the Income for that year is More than the Yearly debts and it cuts into the National Debt. All Spending bills charge for multiple years in the future after the year it was created, so most of the deficit was created in the following years (Building a Road charges X per year for Y years). This means that you can tell how successful a government is at budgeting by that moving towards a Surplus, except for emergencies.
A responsible Government would have a Surplus Year over Year and make plans for what to do with that surplus (I'm in favor of UBI where they split it up among the legally registered citizens of the US sending them an even check for their portion. The portion size is the same for Every citizen with no exceptions.)
To give you an Idea on how successful the Government has been on budgeting ( - X means it was worse by that amount, + x means that they brought our country closer to paying off the debt by that amount)
2001 Surplus of 0.13 Trillion (First Year on the chart) Clinton / Bush
2002 Deficit of 0.16 Trillion (- 0.29 Trillion) Bush
2003 Deficit of 0.37 Trillion (- 0.21 Trillion) Bush
2004 Deficit of 0.41 Trillion (- 0.04 Trillion) Bush
2005 Deficit of 0.32 Trillion (+0.09 Trillion) Bush
2006 Deficit of 0.25 Trillion (+0.07 Trillion) Bush
2007 Deficit of 0.16 Trillion (+0.09 Trillion) Bush
2008 Deficit of 0.45 Trillion (-0.29 Trillion) Bush = Financial Crisis and Housing Crash
2009 Deficit of 1.42 Trillion (-0.97 Trillion) Bush / Obama = Financial Crisis and Housing Crash
2010 Deficit of 1.29 Trillion (+0.13 Trillion) Obama
2011 Deficit of 1.30 Trillion (-0.01 Trillion) Obama
2012 Deficit of 1.09 Trillion (+0.21 Trillion) Obama
2013 Deficit of 0.68 Trillion (+0.41 Trillion) Obama
2014 Deficit of 0.48 Trillion (+0.20 Trillion) Obama
2015 Deficit of 0.44 Trillion (+0.04 Trillion) Obama
2016 Deficit of 0.59 Trillion (-0.15 Trillion) Obama
2017 Deficit of 0.67 Trillion (-0.08 Trillion) Obama / Trump
2018 Deficit of 0.78 Trillion (-0.11 Trillion) Trump
2019 Deficit of 0.98 Trillion (-0.20 Trillion) Trump = Covid 19
2020 Deficit of 3.13 Trillion (-3.15 Trillion) Trump = Covid 19
2021 Deficit of 2.77 Trillion (+0.36 Trillion) Trump / Biden
2022 Deficit of 1.38 Trillion (+1.39 Trillion) Biden
Edited 2009 it was -0.97
That is why it's ridiculous for the GOP to be complaining on Biden's budgeting ability. His numbers are +0.36 for his first year in Office, and +1.39 for his 2nd.
Any claims that Trump was good with Money are full of it since he was negative every single year. Obama was Positive 5 of 8 years and inherited an over -1.42 leaving with a -0.67.
@@nehpets216 Thanks for the explanation. However, would it not make more sense that before a spending bill is passed, the estimate is put in the budget and then using commitment accounting processes, the department spends against that commitment. That commitment is put against income, ie taxes. When it comes to the end of the overall budget and if there are bills that need to be passed ie at war or pandemic, then there needs to be an allocation from the finance group that raises bonds so they know that they will need to raise those loans. It should not be possible to agree expenditure that will not be covered by the federal government. We all knew that trumps windfall to the rich and famous could not be covered in the normal taxations. It would be nice to have budget surpluses like the democrats usually do, and then there could be investment in infrastructure like the democrats are doing now.
This man Lawrence O'Donnell is one of the few TRUE JOURNALISTS in America . We should all be grateful that we can watch a man of insight and integrity Like Mr. O'Donnell on MSNBC. One of the Greats . Thank you Mr. O'Donnell for the work you do , you make us proud .
Joe Biden: Playing 4D Chess beating McCarthy in the past, present, and future.
Kevin McCarthy: Playing Checkers jumping for joy for Kinging one of his pieces
When you go behind closed doors with politicians is when you truly see how good someone is at corruption and manipulation…. Not governing
That is a perfect encapsulation of that the GOP is now.
It is so easy to sit back and criticize the way I’m working on this terrible horrible terrorist attack against my life as long as you’re not the person experiencing it
oh i forgot it’s doomsday wednesday again - overdramatic, much. oh i forgot it’s americans, overdramatizing is their go-to action when there is a big empty space between the two ears
@@djamilawilschke7259 "when there is a big empty space between the two ears"
"Every accusation from a cuntservative is a confession."
@@djamilawilschke7259 do you not understand how this collapse would affect other countries?
@WE THE PEOPLE what?
WE THE PEOPLE or we can just shut up and let you blow up. 🤣🤣🤣🤣