John Kennedy Asks Powell Point Blank: 'How Much Is Too Much' Debt?
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- Опубликовано: 22 авг 2024
- At today's Senate Banking Committee hearing, Sen. John Kennedy (R-LA) asked Fed Chair Jerome Powell about the debt.
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Our government is out of control!!!
Yes... 33:22 And draw near to the pit doth his soul, And his life to those causing death. ruclips.net/video/SyijMebEKew/видео.html
The word government derives from two words
Govern and ment .
Mentis or Mentia is Mind . Govern means to control . So from there think again about the implication of that word Government .
'our'
@@jarjar3143 it's not that complicated. The people have given control to the government because it is hard to keep elected officials towing the line.
They all need to go!
The moral of this short story: the federal government has failed the American people miserably. Vote them ALL out and shrink the government by 80%. It’s the only way we survive.
America was built upon limited government. Every decade we have become more and more socialistic, giving more money and power to the government. It is fucked. I dont believe in Anarchy. But im almost thinking it might not be a bad idea. Funny enough California is already becoming like one but the irony is that they have the highest tax rate in the country. Let people raid and pillage each other and their own streets. There are way too many people, let natural selection take place.
The only way that will happen is civil war.
If the Republicans don’t take the chance next go around to Defund the Fed top to bottom, make laws against debt growth, balance the budget and gut Social Media giants there will have to be a civil war to fix it!!
How about listening to the American people, how refreshing that would be!
i understand their opinions are varied.
Lmao....they don't care about you, me or society, they only care about power and control as they stuff their pockets...
Study history and recognize that that doesnt just happen.
We have to separate ourselves from the global market, think Boston tea party. We keep overspending on products that degrade rapidly and break easily, this makes us poor. Especially since all of our money is just leaving america, buying products from out of country.
Abolish the IRS/stop paying federal taxes. The debt isnt the americans debt, it's the federal elites debt.
What part of independence do you not understand???
Many, many Americans would sell the souls of their children for a $2000 check.
Many, many politicians would sell out the country for a vote.
And, I agree with you, as long as the American people agree with my opinions about how things should be done.
CITIZENS!! This is our money not theirs!!!
Debtor's prisons exist for those who try to apply that issue.
Isn't Powell the person who said inflation is temporary when everyone else knew it isn't? I wonder if a new Congress could get rid of him? The Fed should be abolished.
"Transitory" - They've since "retired" that word with this latest inflation debacle happening.
2% inflation was transitory. ECB are following the same foot steps
Anyone involved with the f.r. is a wolf.
Mister JOHN KENNEDY, you are the for the american people. thank you so much. 💪👍💙💙💙🙏❤
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@@michaelc1063 🥒🥒🥒
We need to build manufacturing companies to make the products that we did, that we normally buy from overseas To sustain our Economy
Producing our own energy oil, gas, coal would be start, reduce mfg.cost. inflation. Solar, wind too far off and would need to be competitive w/o subsidiesvehich would slow development and pad pockets of politicans and friends. Nuclear may be good, subs and aircraft carriers are powered by them and they would leave small footprint. We could sell energy for profit.
We were doing that under the Trump Administration. He had policies in place to help small businesses and to encourage corporations to bring manufacturing back to the US. He was cutting down costly and useless government regulations.
I agree 100%, didn't we just see a president attempt what you state, and the entire MSM, Dems and many Republicans fought tooth and nail against it... Our politicians on both side are globalists, not all but most.
@wnc817 in many cases, we just need the federal government to stay out of people's business. We import items that we make or grow in excess here. Farmers who grow cherries must dump a percentage of them in a pile to rot. They can't sell them or allow people to take them for free. This is to support the purchase of foreign produce.
@@ameliadayvault9470 yes, agree! And the swamp destroyed it all! They are to blame for the downing of the USA.
Mr. Powell .. we don't need you .. or the "federal" reserve. The vast majority of us would be far better off without it and you.
The answer is simple, “any debt” is too much! It means you spend more than you earn, we as citizens would be put in jail for writing hot checks yet they do it every minute of every day!
B-but Biden is a nice guy!
His favorite ice cream is mint chocolate.
You're just a racist!
@@We_Are_Borg_478 🤣🤣🤣🤣🤣
@@We_Are_Borg_478 😂😂👍🏻
All fiat currency in circulation is debt. That’s just a fact...
amen John Kennedy you care & fight for us Bless you
What fight? Have you heard how this guy talks to his colleagues on the left in front of the camera? This guy will never take the gloves off when it comes to these crooks who come to testify.
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@@michaelc1063 laugh world laughs at u
@@maryw.7124 Nay
Love this guy. Kennedy knows what is happening 🙏🙏🙏
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@@michaelc1063 🤠🥸🥳
ruclips.net/video/VmW-ScmGRMA/видео.html
i agree Shirley, but it appears that Senator Kennedy does not know the difference between, Bank Money System " and " State Money System " as he would not have made his first statement in this video.
Truly like this guy , he speaks from the heart and is a cool cat!
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@@michaelc1063 GFY!
@@garymajor7020 gfy?
@@michaelc1063 Do you know what happened to Zimbabwe Veneswalla and Wiirwmare Republic??? No you don't because you're a Payoso
@@Zzus321
Dont you dare compare us to those 3rd world country. If you hate America so much just get out
John Kennedy is a national treasure always fighting for Patriot Americans
He's no 'John Kennedy'!!!!!
Abolish the Federal Reserve, ASAP!!!
It is useless!!!
The US dollar is only worth about 17 cents these days.
Thanks to the FRS!!!!
Does this guy know about all of the US wars fought on a credit card?
Cut the military's budget for ten years.
Tax the churches.
Defund the police.
He truly is
@xXLogicXx such an ignorant comment. Go to twitter where your comments make sense to that crowd.
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@@michaelc1063 😭😭😭
We are so screwed. Our politicians will never, ever see times “good enough” to pay down debt.
What you are saying means that the Dollar collapse is inevitable. In that case, we either return to sound money (Gold/Silver) OR Totalitarian CBDC.
No. The ones who understand it see it. They just know they won’t be in office for the time everyone hangs for what they’ve done to our money.
We'll be fine. Saint Doge has bestowed us with a fallback.
How good will times have to be to pay down any significant portion of 30 trillion dollars? America has become like a gambling addict or credit card abuser that has WAY more debt than he can ever pay off. His, and our only strategy is to seek any credit that we can get at whatever terms to maintain their lifestyle for as long as possible. Perhaps the crash of the dollar will force fiscal restraint on this government, but I doubt it. Civil war is more likely.
Like saying that when a drug cartel's supply of cocaine is way more than demand and , therefore should just give away the oversupply. Our government isn't about to pay off the debt in good times . They can't help themselves. Our elected officials will spend it like it's going out of style. Same thing in dire times. They can't help themselves. Our elected officials will spend what they don't have . Yes ; whether they have it or don't have it . They will spend it .
0.25% fed funds rate shows there is no Federal reserve independence, it's an agency that works for the banks and stock market investors. not the people. Propped up stock market and all these hedge fund companies driving up rents and buying up homes. I'm a delivery driver and may not know much but I can see BS.
BS indeed, and you hit the nail on the head!
Rents have doubled even tripled in the last 6 months to a year. Housing market skyrocketed in the last 6 months! Paying up to 25% percent over the asking price just to purchase before someone else does! This is criminal
You forget those individuals you named are "the people" too. Class warfare is real for a reason. Money makes you dehumanize all, even yourselves by reducing it down to money.
We the American people CAN'T afford this corrupt admin!!!!
But you afforded the previous corrupt administration 8 trillion Dollar deficit. But we wont talk about that here since it doesn't fit you're narrative.
@@Basedlander-k1m apparently you voted for this corrupt criminal politician who is trying destroy our country!! JB killed the keystone pipeline and all of those job. Paying higher for gasoline and look at the inflation Opening up our border and a failure to secure them!! JB is breaking his oath and law and everyday and not protecting our country and the American people Afghan is the ultimate disgrace to the American people and our country
So it’s apparent you love this admin. That’s your opinion
@@edmorse3529 trump killed 800000 due to his incompetence from handling the covid situation also friendly reminder during trumps presidency goods rose 6.7% oh and remember that border crisis that happened during trump? And how he released over 5000 taliban soldiers including the leader of the taliban who took over Afghanistan? It's apperent you loved the previous administration. That's you're opinion come back when you've got something better little boy.
@@Basedlander-k1m maybe you need to get your facts straight.
@@edmorse3529 maybe just maybe u can't accept these facts because they don't fit you're narrative 🤷♂️
Why is it always “bring in more taxes” and not spend less?
I love Kennedy, another true American
Look how aggravated Mr. Chairman was acting for a bit wow !!
Love Mr. Kennedy
Love this man !!! Kennedy is my long lost cousin ….straight shooter & patriot !
You’re mistaken he asked not to let the deck go any higher that is his main focus…
I'm beginning to really appreciate Kennedy a senator who is worth his salt. Does a wonderful job with the welfare of everyone in the country at heart. God bless him.
Hes Great!!
Meh, i lived in Louisiana long enough so say non of their elected officials are "worth their salt", corruption is culturally part of politic's there and has been since it was french colony. There is a reason most of the state is a sinking shithole. Hell its not uncommon to see the Feds raid a state owned/funded facility there multiple times a year.
love Him ! he goes after the reckless people thank god for this man .
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@@michaelc1063 🐖🐖🐖
When you stop making your mortgage payments, the cops come and evict you from your land. What do you think happens when a country stops making its debt payments?
We go to war again. Haven't you read a history book? The elites spend is into debt and then send us and our children to kill the people we owe. Political slaves is all we are as long as we allow these people who would trade our freedoms for their own personal gain.
The world police come and evict us out of America or nothing happens when a country doesn’t pay its debt if it’s the worlds currency. 🤷🏾♂️
@@CloudSephiroth its more commonly known as war
I love this mam John Kennedy. Tuff hard. But cares deeply about our Country an the USA. An every American. TY YOU JOHN.
The question should be if it costs 5 dollars in debt to generate one dollar in income when is that sustainable? If the income generated will never service or pay back the debt. It seems there should be a payout for increasing debt . if we keep borrowing to just buy food, or social services rather than investing in an income stream that will payout over 5-10 years like energy or large capex projects like the power grid, highways system, theTN valley authority or the hoover dam, this is unsustainable reckless borrowing , NO?
they make it up as they go.
money is literally 'make-believe'
Crappyfornia Politicians...
It’s called kicking the can down the road
Love Mr. Kennedy. Stay strong and get things done!!
LOL Look at this cowering fool graveling to an unelected banker ruling over the American economy!
@@ChildofYAH_ haha. You sound so self righteous.
You must give all your earnings to the lord.
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@@michaelc1063 👶👶👶
Like Mohammed Ali said, " float like a butterfly, sting like a bee". The gentleman is a real gem. Too bad there are not more like him in Congress.
Unfortunately, Mr. Powell's office and duties were ALREADY politicized long before Senator Kennedy made his remarks.
Sigh.
The inherent role of Central Banks is to Monetize Deficits. THAT is why the Central Bank is inherently political. This fact is denied by 99.9% of Economists
@@mr3817 It's sad, really. I'll believe they are independent once the Fed tells the government "NO" when they ask to spend more than we take in for taxes.
This has been asked before. Now it's considered credible the raising the debt ceiling is a way to pay off old debt. The actual answer is any debt is too much. If not nobody should ever be expected to pay for anything. The example being set by government is not what we voted for.
That's why reading Alexander Hamilton's 3 reports to Congress on national banking, national credit and infrastructure should be required reading instead of the money cult passed of as economics.
@@AbandonedMaine Keynesians all they know is to print money.
@@fortunateson2 As opposed to the cargo cult belief that money is supposed to magically be created by the market?
I believe it's precisely what we voted for, or we wouldn't keep voting for politicians who continue to increase the national debt.
@@RenegadePawn except that voting for someone who won't is likely a vote for someone looking to be bought to go against what they promised on the campaign trail. 15 dollar minimum wage, universal health care, getting covid eradicated... Party doesn't matter, most promises don't matter. It's rare that there's an exception. Being an advocate for things continuing this way as if it's our just deserts is a vote against yourself.
That's my man..
LOVE JOHN KENNEDY ❤
Mr Kennedy you are great. God bless from SAfrica
DEFUND THE FED!!!!!!!!!!!!!!!!!!!!!!!!!!! END THE FED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Everything is connected 🌊🌊🌊
We must demand a full audit of the Federal Reserve, and it should be audited on some frequency.
Kennedy is an awesome senator!!! Really holds their feet to the fire!
Let’s Go Brandon!
So there is a limit, our current trajectory is unsustainable, but don’t worry because we haven’t failed yet and people thought we would fail a long time ago. Kind of like when on a plane crashing and they thought we would have hit the ground a while ago so they just say don’t worry, maybe there is no ground trust us but don’t look out the window.
Excellent analogy.
All these politicians have been watching looney tunes - they will step out of the airplane just before the plane crashes to the ground - just like bugs bunny
We are all living in borrowed times. They keep accumulating debt to spend and enjoy now and expect future generations to pay them off.
Horrible analogy!!!
The US Dollar runs the world. The worlds reserve currency backed by the US Military might!!!
Till then keep your filthy lies and fear propaganda to yourself!!!
POWELL THE GREAT!!!🇺🇸🇺🇸🇺🇸👍👍
@@michaelc1063 sorry to break it to you but the world chose the dollar not the other way around. It has not always been that way and one day will not be that way. To think otherwise is naive. The US military is not a guarantee of fiscal stability. It follows our economic productivity, which is in a free fall due to current policies. As the economy fails the military will fail after.
When our senators are literally begging the central banking system, you know the nation is lost.
What you are saying means that the Dollar collapse is inevitable. In that case, we either return to sound money (Gold/Silver) OR Totalitarian CBDC.
@@mr3817 sounds about right. Plan accordingly.
@@mr3817 water/guns trump gold/silver
@@LebronCCP it's about to eat gold and then fiat
The central banking system is the problem, that's why they're begging Powell. U people don't even have a choice, u have the illusion of choice. Both parties, the majority of each party is bought off and ur presidents have been hand picked since Lincoln was killed, then jfk, and the only reason trump hasn't been killed is because there are too many cameras. U guys need to let go of thing u love the most to get out of this shit, that thing is Money. Oh and by the way, it's not called the dollar, it's the federal reserve note.
John Kennedy is awesome, I wish we had more people in office like him.
The Fed Res IS the last thing in the world that we actually "need"
What you want politicians doing it.
Love Love Love Kennedy- the man who always makes sense, and hits with a velvet glove,
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@@michaelc1063 🥺😭🤣
We’re already way past too much..
End The FED.
I just love this man John Kennedy he speak the truth no bullshit him .
We love Sen. Kennedy.
He is a smart and straight shooter!
"The establishment of a central bank is 90% of communizing a nation." - Vladimir Lenin
We’ve also adopted most of the 10 planks of communism. Disgusting.
As much as people take as their dollar purchases less and less. That is their answer.
It took 4 minutes and 21 seconds to ask the question: at what point is too much? And his answer was pretty simple: "we don't know. But then he rambled on for another minute plus.
Don't worry, we will know it's unsustainable when it's too late, the economy collapses and everyone is using garbage bags of money for bread.
Then we will know how far for the next time... Well assuming it actually gets written down and taught in classrooms properly.
I can hear the classrooms of the future now... The reason the economy collapsed and so many starved is because they didn't spend enough fast enough. Real deficit spending has never been tried.
I LOVE KENEDY. HES A BLESSING TO THIS COUNTRY🇺🇲
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@@michaelc1063 👹
Its fake dollars. They can not become God with out the people faith, no matter what it is. Power is a delusion of illusion in a losing game.
Like Kennedy Like his style
This sounds like the Titanic is sinking and they're debating how to shuffle the furniture
This man has one of the very few in our government that has a brain!
At least he asked. Powell was just following the leftie script of deflect and distract. It seemed to not really matter to anyone besides Kennedy in their discussion.
Reaching the highest ceiling never makes for a softer landing when you hit the floor.
The floor moves 🤡
@@michaelc1063 Your mom moves 🐄
Listen to we the people for a change we can't afford to pay everyone else's bills .. we can barely afford our own bills for the American people ..
As being the world leader, why are we needing to borrow, oh that’s right we send all our Taxed money to help other Countries . Which it never makes it there but ends up back in Lobbyist & Politician’s pockets . Don’t get me wrong on Senator Kennedy he is a great Senator with Morals and Honesty!!!!
Bruh…….simple math here.
Cut 1% of spending and the debt will drastically go down.
Print more money and prices rise. It’s simple economics
WRONG! Cutting spending by 1% when the government routinely spends VASTLY MORE than it takes in will not reduce the current debt by a penny but will only minutely SLOW the growth of the debt. In 2021 ALONE, the federal government spent $2.77 TRILLION MORE than it took in. Kennedy's charts only showed the deficit spending part of the national debt which does not included the UNFUNDED future liabilities that the federal government owes. Include THOSE (and then subtract the total market value of ALL federal assets as if we were going to liquidate everything) and the TRUE national debt is STILL almost $130 TRILLION dollars currently. That is over $900,000 per US taxpayer, folks. To actually "drastically" cut the debt we would have to UNDERSPEND tax receipts by a huge percentage (50+) each year for nearly a century and use every surplus $ to pay down the debt, assuming (falsely) a ZERO interest rate. At even 5% interest, it will take spending less than 50% of total tax receipts EVERY YEAR for almost 200 years to pay down the current debt.
@@worlddevourer7740 then cut back 5% of spending. We would save 138 billion a year.
2021 US Federal government budget:
Revenue: 4,1 trillions.
Expences: 6,8 trillions.
---------------‐
Deficit: 2,77 trillions.
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Deficit/Expenses = 2,77/6,8 = 41%.
"I don't know." That answer should disqualify Powell from continuing as FED chairman. That is grossly irresponsible.
We have too much debt now
I love how that beautiful woman sitting behind Kennedy had focus eyes on Powell as Kennedy lectured him.
I don't like when they bring up how powerful a person is. They shouldn't need to be powerful to do what is best for the American people. Who cares about being powerful. Just do your job to the best of your ability.
the point is to impart the wide-reaching and longterm ramifications of anything they do, an important perspective which can help them make the right decisions and deliberate more carefully. If you don't recognize how much power you have, you also don't recognize how much responsibility you have.
@@cadebruce4401 good point.
Love him
John Kennedy should have put it to powell like this if you f us over we will get you we will not forget you we will get you
Senator Kennedy is such a genuine person who works for his constituents. I would love to see all of Government work for us not over us!
That's the problem what Kennedy say, "YOU WILL BE ONE OF THE MOST POWERFUL PEOPLE". The question is, "FOR WHOM"?
How I relish listening, learning from, and watching Senator Kennedy! Thank you, fine sir.
Love John Kennedy💕
#GodBlessSenatorKennedy!!
"I'll address the debt over time." Can I tell that to VISA and Mastercard???
Don’t you just love Senator Kennedy! Love his questioning!
End the Fed!
Look at that chart. And yet I have collection agencies up my ass about a past medical bill not to mention trying to get a loan
Thank You Sen. John Kennedy ........
When one spends more than their income year after year, keeps setting a limit and breaks it time after time, and pays their credit card bills with credit cards at higher rates, most people would say the time is near. That debt line is similar to an exponential curve to me, which means the debt will grow faster with each year until it is near vertical, possibly in the next ten years. Other countries are abandoning our currency.
“We need to get back to…. not letting the debt grow faster than the GDP” This is the guy running the Fed? I guess it really is all about who you know.
@zero uh becos thats common sense? Dump ast. Get an education. Use your brain.
We don't do fiscal spending , thats for our operatives.
Demand for our paper is very strong.... Demand for our paper............
. END THE FED !!!
🤣🤣🤣🤣🤣🤣🤣🤣...
"Good luck"
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Both did excellent. Good to hear John Kennedy wants to raise taxes on the rich's extra money.
How is that good? Which part of their money is "extra"? Who's going to decide that? Is it your feeling that government will spend that money better than the people who earned it? That is a horrible prospect. Given what the "rich" do with their money, I could see a significant reduction of their tax liability, but raising it will just move that money into places where it can't be legally accessed. You're just taking it out of circulation in the US and putting it into circulation in another country that will serve as a tax haven. The rich will have even more money and it will never make its way into our economy to buy goods or services and drive some segment of the economy.
@@bobg.3206 They put their money in overseas tax havens anyways. That's why a strong IRS and using the SWIFT system to freeze fleeing assets are cornerstones of responsible fiscal policy.
@Epstein, Cuomo, & Clinton Babysittin..., I agree, but how much of that money came back onshore when Trump won because they knew the US was about to become a friendlier place to have money, personal and corporate?
It isn't anybody's money but theirs. As soon as we get adjusted to government thinking it theirs by saying it's all of ours, the sooner we will be looking at a European-styled system, where they don't stop with the rich.
@@bobg.3206 Nah, we can just go back to the rates we had during the US's heyday in the 1940s-1970s.
@@Make_Ukraine_Russia_Again rich people do not exist to subsidize your existence. You are not entitled to a share of anybody else’s wealth.
Senator Kennedy is a GREAT gentleman. 🇺🇸🇺🇸🇺🇸🇺🇸
Thank you Senator Kennedy.
The last several videos have had very poor audio volume
Poor audio volume or only one side to hear 👂!
The constitution sais congress shall print money and regulate the value thereof. I like Mr Kennedy but he's wrong here all our problems are being caused by an independent fed.
Stop big spending
The last time inflation was this high rates were 18% and now we are at zero!!! Total insanity.
One of a handful of Republican senators that I truly respect and trust.
John Kennedy : 'How Much Is Too Much' Debt?
Powell : It's not my money so it will never be too much !
Senator Kennedy...thank you for your service and thank you for the supermodel behind you!
Sounds like he don't get Kennedys vote
Like 👍👍
Great respect for John Kennedy. (from Canada).
the last thing we need is the Federal Reserve. End the Fed.
He knows he’ll never be held to account, so why does he give a fig about unsustainable debt?? 😡😡😡😡😡
Thank You John Kennedy…. I Love Listening to John Kennedy talk…
I’m glad Kennedy jumped ship to the right side of the aisle. He always ask the questions no one else has the balls to ask.
This was the best part of this hearing. Glad it got clipped.
$1 of debt is too much if you have no intention of paying it off.