#USA in #Crisis as #Debt Hits $31 #Trillion #Ceiling, #Cash_Runs_Out on 19th #January & #DEBT_DEFAULT Looms..
US #Treasury_Secretary #Janet_Yellen has written to Congress #advising that the USA is due to hit the #maximum $31 Trillion Debt Ceiling on 19th January 2023 and unless the #Limit is #Increased the USA is #likely to #DEFAULT on its #Debt_Obligations by #June.
This would be the #first_time in #history that the USA has #Defaulted and would have #major_repercussions for both the #USA and the #Global_Economy.
In this video I provide more details on the Debt Ceiling, look at the current debt position, review Janet Yellen's letter, the implications of a USA default and discuss the likely outcome.
Chapters:
0:00 Intro
1:55 USA
5:10 USA #DEBT
6:57 USA #DEBT HISTORY
8:02 LEVERAGE
10:01 USA #DEBT HOLDERS
11:09 INTEREST COSTS
13:22 CURRENT #DEBT
14:34 JANET YELLEN LETTER
18:35 SUMMARY & CONCLUSION
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