National Debt
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Is the U.S. deficit a national security issue?
CNBC Television· 2025-07-07 22:01
What is the biggest threat to national security. When Admiral Michael Mullen was asked that very question back in 2010, his answer shocked the nation. I responded that the most significant threat was our national debt, which was a bit of a surprise.Admiral Mullen served as the chairman of the Joint Chiefs of Staff under presidents George W. Bush and Barack Obama. Since then, the national debt has nearly quadrupled.Well, experts have warned that when a government spends so much related to its debt load, it c ...
Consequences of U.S. debt on defense spending, Fmr. Chairman of Joint Chiefs of Staff weighs in
CNBC Television· 2025-07-07 21:30
US Debt & National Security - US national debt is seen as a significant threat to national security, potentially squeezing the discretionary defense budget [2][3] - The US is expected to spend $90 billion more on interest payments than on defense in 2024, marking a critical tipping point [4] - Increased defense spending by $2 billion this year and $150 billion over the next decade is projected due to recent tax and spending legislation [4] - The law will boost interest costs by $700 billion [4] - Adversaries like Russia and China may view US debt levels as a vulnerability [5] International Implications - China, a large foreign holder of US treasuries, has been steadily reducing its holdings [6] - Japan holds over $1 trillion worth of US debt, the most of any foreign country [6] - Reworking global trade relationships could impact international demand for treasuries and the US dollar [7][9] - Tariffs announced with Japan speak to the leverage that Japanese investors may have in trade talks [8] Potential Solutions & Challenges - Addressing the deficit requires a combination of spending cuts, tax increases, and a rainy day fund [11] - Solving the problem solely through tax revenue would require a 30% tax increase, while solving it solely through spending cuts would require a 25% spending cut [12] - Political divide is considered a major threat, potentially hindering efforts to address the debt issue [13]
X @The Economist
The Economist· 2025-07-06 17:20
“Checks and Balance” assess the implications of the big bill:🎧 How it will explode the national debt🎧 Comparing the process Congress used with how it was once done🎧 What the GOP prioritises, and what that means for its supportershttps://t.co/AdPFBS7DTp ...
X @Elon Musk
Elon Musk· 2025-07-06 07:59
RT Mario Nawfal (@MarioNawfal)ELON: OUR NATIONAL DEBT IS A DISASTER“What really matters is that government spending is not far in excess of government revenue.That's a fundamental issue that we have where we have a deficit of $2 trillion and we have interest payments that now exceed the entire budget of the military.In fact, that was a big wake-up call for me was when the amount of money that we pay in national debt interest exceeded the Defense Department budget.And the Defense Department budget is very bi ...
X @Cointelegraph
Cointelegraph· 2025-07-04 06:00
⚡️ UPDATE: Kalshi users predict the US national debt will reach $40 trillion this year. https://t.co/S1rF0N1TkC ...
The Last Word With Lawrence O’Donnell - July 3 | Audio Only
MSNBC· 2025-07-04 04:15
Healthcare & Policy - The Republican bill is projected to cause 17 million Americans to lose healthcare coverage [2][9][37] - The bill is expected to devastate nursing homes and cut nutrition assistance for poor children [2] - The legislation could lead to the closure of rural hospitals, affecting healthcare access for entire communities [2][23][24] - Medicaid covers 40% of births, especially in rural areas, and cuts will worsen existing mortality penalties in rural America [41] - The Affordable Care Act (ACA) is 15 years old, and Medicaid is 60 years old this year [34][35] Political Dynamics - House Republicans voted 218 to 214 to approve the budget bill, despite initial criticism from the Freedom Caucus [9] - Concerns were raised by Republicans about the bill's impact on the deficit and its failure to adhere to budget deal terms [5][7] - The bill includes the largest Medicaid cuts in history [19] - Democratic Leader Hakeem Jeffries spoke for 8 hours and 45 minutes, setting a record for the longest House speech, to oppose the bill [16] - The bill is characterized as the largest upward transfer of wealth in American history [52] - Congressman Ro Khanna stated that crossing Donald Trump leads to political repercussions, influencing the bill's passage [55] - The bill is considered a massive giveaway to special interests [46] - A $4 trillion tax cut is included, which is seen as disproportionately benefiting billionaires [58][60][61] International Relations - Donald Trump had a phone call with Vladimir Putin, discussing Iran and the war in Ukraine, with no progress reported [69][70] - Putin's adviser stated that Trump and Putin are on the same page and that Russia does not want US involvement in peace talks with Ukraine [72][73] - The Trump administration is accused of withholding aid to Ukraine and easing sanctions against Russia [77] - Russia has massed 50,000 troops near the Ukrainian border city of Sumi [76]
‘Really bad’: Ex-Sen. Jon Tester says Republicans can’t defend this bill
MSNBC· 2025-07-04 00:57
Elections & Public Opinion - Public opinion and citizen action remain crucial despite challenges to institutions [1] - Elections still matter significantly, as seen in Wisconsin where voters rejected Elon Musk's interference and a 19th-century abortion ban was struck down [2] - The 2026 midterms are officially starting, and a controversial bill casts a shadow on Republicans [3] Legislative Analysis - A Republican-drafted bill is considered fundamentally flawed and poorly thought out [6][8] - The bill negatively impacts hospitals, especially in rural America, food security, and potentially climate change, while increasing the national debt [8] - The bill is perceived as giving a "big windfall" to Republican campaign donors [14] Political Strategy & Impact - Democrats see an opportunity to attack the bill and must also articulate what they stand for in areas like housing and education [18] - The bill's unpopularity could burden candidates like John Cornyn, Joni Ernst, and even Susan Collins, despite her vote against it [12] - Rural hospitals are particularly vulnerable and may close at a higher rate if the bill passes [10]
What YOU should know about Trump's megabill and the national debt
MSNBC· 2025-07-03 20:34
Economic Impact of Government Spending - The bill's benefits are likened to a "sugar high," suggesting a short-term boost without sustainable long-term effects [1] - Unlike past instances of large deficit spending during crises like COVID-19 or the financial crisis, this spending occurs during a period of low unemployment and controlled inflation [1][2] - Increased national debt leads to higher interest payments, diverting funds from essential programs such as defense, Medicare, and Social Security [3][4] - If global investors perceive the US as borrowing excessively, they may demand higher interest rates, increasing borrowing costs for both the government and consumers [4] - The US spends more on interest payments than on national security, posing a significant problem [4][5] Fiscal Policy Concerns - The timing of borrowing trillions when the economy is not in crisis is questioned, especially with ongoing investments in energy projects, chip production, and infrastructure [2] - Concerns are raised about the ease and cost of obtaining funds during future crises due to the increased debt burden [3]
BREAKING: The House votes to pass Trump's megabill
MSNBC· 2025-07-03 19:26
WHERE VAUGHN WAS TALKING ABOUT. SO I SPENT A LOT OF TIME WITH HIM ON THE CAMPAIGN IN. >> THE CHAMBER.RIGHT NOW, I'M BEING TOLD. >> SO NOW YOU SEE THE SPEAKER ANNOUNCING THE FACT. >> THE MOTION IS ADOPTED.>> USA. >> USA, USA, USA, USA, USA, USA. >> WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE.>> AND LOOK, THIS IS HOW IT WAS GOING TO PLAY OUT. THEY'RE GOING TO DO A MOTION TO RECONSIDER, WHICH IS A PROCEDURAL STEP HERE THAT DEMOCRATS ARE GOING TO TRY TO SAY, HEY, WAIT A SECOND, WE DON'T WAN ...
Republicans scramble to pass Trump’s megabill as public support for bill plummets
MSNBC· 2025-07-02 21:02
After a nailbiter in the Senate, now Republicans in the House face their own pick your poison moment. At this hour, the House is at a standstill ahead of a final vote to pass Trump's sweeping domestic policy bill. Whether Republicans have the votes to pass it, that is an open question.Speaker Mike Johnson can only afford three Republican no votes given unified and unanimous Democratic opposition to that bill. Here's House Democratic Leader Hakee Jeff. That's what we are going to do.Show up today. Show up to ...