As lawmakers trade fire over contempt votes and impeachment, there's been no progress toward reaching a budget agreement or extending the federal government's ability to borrow before September, when the money runs out. That's raising the ugly prospect of more than $100 billion in mandatory cuts as well as an unprecedented default on US debt -- a situation that could trigger a worldwide economic catastrophe.
The three-legged stoolThe talks are playing out in the wake of Trump's tax reform, which increased the deficit. The President -- who long ago proclaimed himself "the King of Debt" -- has nevertheless promised to raise defense spending, and White House officials have actively sought ways to increase the military budget without Congress, drawing objections from Democrats.
U.S. is shaking it's sabres at Iran, so soon no-one will care about it.
The guy who is one of America's biggest ever money-losers will know what to do! Only he can fix it! Doomed
Wasn't that always the plan, at least thats what PewTin would be hoping would happen.
Flirting!!
Well the country has a corrupted bankruptcy expert as the president
Why didn't CNN EVER ask this of Obama this question?
We're bringing in billions of dollars in tariffs, more people were working today then in the last 15 years, all of them are going to pay taxes. The government is making more money now than at very very long time. The national debt is going down.
And the Democrats want to pay for everything! Free Healthcare, Free College, Repay College Loans, Pay Blacks for Slavery (150 yrs after fact) $1000 dollars a month for everyone! And we have a debt crisis now! Idiots!
No one cares your polls don’t include African American the Latino commu your polls are flawed and bias no one comes to our communi many don’t sit behin computer busy trying to put food on the table tht trump is trying to t away cnn HouseDemocrats RepJeffries AOC
Agree with that. The debt started many presidencies ago and congress and the news (bias) have failed to stop it due to political squabbles. We can thank the news and congress for this disaster.
As long as politicians are more interested in re election than than solving real problems, we can expect no action. TERM LIMITS!
And yet Dems like aoc want to triple the national debt with the gnd. Makes sense to me lol.
Coz there's a prick in the WH and a bunch of pricks in Congress who refuse to do anything until he's gone!
The is how realDonaldTrump runs his businesses...always in debt...
Just print more $$ nobody seems to care our children will pay a hefty price thats for sure !!
Correct! Who doubted national debt in 8 years?
Raise taxes on the filthy rich and the non paying huge corporations!
No one is flirting it's been here for years and no one wants to deal with it.
Agreed
Oh, but your very smart genius will fix it, no worries.
Trump as the leader of the State must be responsible for that! Hahaha
You didn’t notice this decades ago?
There’s a 3 step process to do this 1) reform & eliminate entitlement programs (2) pass a category based budget and not some omnibus package (3) start eliminating government divisions
Wait it’s gonna get better with Democrats free school free health insurance free free free free free
They will let it go and then blame it on the Democrats. Once again we will have to clean up the republicans mess.
Bullschiff
CNN didnt care when 0bama added to it with record numbers
democrats want to expand it!
It's what happens when scrawny toady leftist beta males like Kenyan 0bama are Presidents. 10 trillion in 8 years. He's a real traitor to America.
The debt is a myth.
Debt BAD...! Do nothing, BAD..... Depression, Bad... Idiots..
Time to shrink the size of our government & cut useless agencies.
Obama
Hey CNN, where were you when Obama added 9 TRILLION to our debt, most ever? Why didn’t he stop the madness? He had 8 yrs!
And how exactly will socialist policies fix this?
Started by who ?
Thanks Obama!
CNN..yet another “crisis”!
This is hilarious. Highest GDP in history of nation and this is the headline. Not to downplay debt ...but, come on, we know this would NOT be the headline if a dem was in office. We all know it. The post-modernists are right. There is no sense in asking for objectivity.
Chinese interference of underdeveloped country created drug in US. Fentanyl evicted with dealers-Radicals. Chinese forbidden to hamp. Hell out. Chinese are Ukraine Biden before Communists love -Biden cost $10 mln. Above? Is MAGA . China is very very fucked MothersDay
Get Trump on to it - he would consider a huge debt as a success!
Has nothing to do with the taxes we collect. It's what they spend. Parents if your child is given $5 a week. But spends $10 You would be mad. Why are we not made. The dems will say tax the rich. This pleases the poor. There will always be poor people. Congress stop spending.
There are plans, just not ones that are politically palatable.
Obama’s legacy still kicking us in the ass.
Now you’re worried? The ship sailed long time ago NoHateJustTruth
One month 20 cent gas tax. Problem solved, then lower gas tax the 20 plus 5 cent to pay us back
Chinese Communist Front is hazardous to US might of capitalism. Dumped. What is nex to swallow? Just after China Russia to group. democrats to crash China Who is n e x t.?
Trump’s economy is on the tab of the taxpayer. His believers are too stupid to see it... People should get familiar with the concept of State failure...
An your boy Gropin' Joe says that we have to give gov't benefits to ILLEGAL ALIENS.
Most of it is going into tRump's pockets. I got a plan vote this corrupt regime and every Repub who has aided and abetted this corrupt regime out of office. America deserves better than this cluster fk.
Comparing the $100 billion CNN says will need to be cut from the budget if nothing is done to the ‘almost $100 billion’ Trump claims China will be paying to the US Treasury ( a back door ‘tax’ on American consumers). So there shouldn’t be a problem?
Been going on for a decade or more. Nothing new to see here
We could clear our debt with China by giving them South Korea, and seize all Mormon accepts for committing treason.
Trump does ! 500 billion to China every year is not the answer. Listen !
When will the crisis set in, CNN? 125% debt-to-GDP? 150%? 200%? When? Give us a hard number and we will see about it.
The plan has always been to run up the debt and then use it as an excuse to cut 'entitlements' such as Social Security, Medicare and Medicaid. To that end, an expensive war with Iran would be a great help.
Oh wait until the FREE stuff is given out...
I got a way to get a start on it!! Just use the money the we pay the Dems in Congress to work for us and give it to the debt fund. I mean it isn't like they are doing any work for the American People. They are using our time for their own goals. No work No Pay!!
Note to all fake news organizations, phrase for the week of 05/06 Constitutional Crisis. Please have all your fake talking heads use at Least once a day, everyday for the week. 😂😂😂😂😂😂
Trump doesn’t care. He only cares about the RICH getting richer ! He’ll leave a HUGE debt for the Dems.
Democrats want more illegals to pay for, it will never end. We are headed for collapse .
America is a has been power
dat what they get america dat scam country u keep stealin liberia diamond and silver
Lmao
Ask Trump?realDonaldTrump
Liberal nation, I ask for honesty wholeheartedly. I understand that you dont like Trump the personality. I could see how he would rub u the wrong way. BUT, look at OUR country. USA is thriving. Alot of positives statically/factually speaking. Why is your SPITE prioritie over all?
gop's plan stopping it is cutting Social Security.
When will the crisis set in, CNN? 125% debt-to GDP? 150%? 200%? When? Give us a hard number and we will see about it.
CNN = Low Ratings 🤮🤮 Fox News Huge Ratings Victory, night after night.....love the Fox Babes !
Remember Obama reduced our GDP spending defict from 10% to 3%. Trump is now greatly increasinging our spending defict through tax cuts and defense spending. The trade war will also increase our defict Reps always increase our spending defict...
Ban Democrats would be a great start. Next, make it illegal for any politician to collect any pay or retirement benefit until the budget is paid in full and balanced.
That is because Congress does not work for the American people.... They enrich themselves with power and our hard earned money..... People in the US need to wake up to the corruption in Congress and the media because they align with political parties and both are corrupt
Wall Street has a plan, they are tentatively calling it WORLD WAR 3
Mormons and Evangelicals have planned to watch US starve for seven years before they inherit it.
We had a debt crisis 20 trillion dollars ago, but no one cared!
Where were you 2 years ago?
Are you shitting me? Have you not looked at the last 40 years of escalating debt? This may be the dumbest headline I’ve seen from CNN their last one. You really think all of a sudden there is a crisis? Let’s end entitlement programs til we figure out a permanent fix...
It is America there is a plan B always.
What And you're surprised?
Ive always equated debt as creating a short term solution but creating a long term issue. The biggest problem with eradicating debt is that it would require a lot more cuts than would be realistically possible.
Russia will be happy to help out.
I have a plan. Stop getting us in debt. Thanks
what about my free schooling? money if i don't wanna work? green new deal with lots of spending to make everything environmentally friendly?
Figures
The GOP certainly isn't and hasn't for decades/a century ;-( BlueTsunami2020
Certainly not Republicans in Congress or fake POTUS Trump.
There IS a plan...Trump plans to spend even more, and not pay his contractors...hey, I said it was a plan, I DIDN'T say it was a GOOD plan.
trump has AIDS
Not even Donald?
Is that the debt that America doesn’t have
*Trump Zombifies Congress*
JohnKasich probably has a solution 🤷🏻♀️
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooNews - 🏆 380. / 59 Read more »