Daniel Brosseau, co-founder and partner of Letko Brosseau, joins BNN Bloomberg to talk about the ongoing discussion on where …

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The U.S. national debt is nearly $33 trillion as of early September 2023. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up for the difference. The national debt is frequently discussed as a danger to future generations, but some economists say there’s no reason to get the national debt down to zero. One reason for that is without the debt, there would be no federal government securities, such as Treasury bonds, which provide investors a safe place to park their money while accruing interest. Most economist warn, however, that there’s a balancing act when it comes to the national debt. Watch the video above to learn more about why the U.S. can’t get a handle on the national debt and whether it even has to.

Correction on Sept. 11, 2023 at timecode 0:11: The voice over misstated the amount the national debt grew from July to September 2023. It was $300 billion dollars.

Chapters:
00:00 — Introduction
01:39 — The role of debt in the economy
03:28 — How debt can harm the economy
06:17 — The global economy

Produced by: Charlotte Morabito
Edited by: Amy Marino
Animation: Jason Reginato
Supervising Producer: Lindsey Jacobson

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Why The U.S. Won’t Pay Down Its Debt

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Where’s the recession we were promised? In the summer of 2022, The Wall Street Journal surveyed economists from around the country and more than 60% said they predicted a recession within the next year. It wasn’t a wild assumption — the indicators were indicating. GDP was down as the Federal Reserve began to raise interest rates to fight inflation. Which, historically, usually brings a recession.

Yet now in the summer of 2023… where is it? WSJ looks at the four main economic factors that have so far kept the recession at bay. Though that doesn’t mean we’re in the clear.

0:00 Why a recession was predicted
1:07 The usual three suspects were strong
2:50 A “mortgage winter” buffered rising interest rates
3:50 Why the recession watch isn’t over

News Explainers
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day’s biggest stories into bite-size pieces to help you make sense of the news.

#Recession #Economy #WSJ

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Wall Street investors remain braced for a recession. But a turndown hasn’t yet materialized, due to strong demand from U.S. consumers. Spending makes up roughly 68% of the U.S. economy. It’s remained strong amid high inflation as high-income Americans draw down generous savings accrued in the pandemic. Lower-income Americans who may have exhausted their pandemic savings are increasingly turning to credit cards to finance daily life.

Chapters:
00:00 — Introduction
01:15 — Budgets
04:24 — Credit
06:13 — Split economy

Produced by: Carlos Waters
Supervising Producer: Lindsey Jacobson
Graphics: Christina Locopo

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How The U.S. Is Stalling A Recession

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Vice President, Prof. Yemi Osinbajo speaks at the Nigerian Indonesian Investment and Trade Forum virtually. His excellency …

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