The 2023 Recession Keeps Getting Worse

"the United States is quickly running out of money with the national debt now exceeding more than 31 trillion dollars in fact the United States only has enough funding to operate until this upcoming Thursday January 19th"

"the debt ceiling is the maximum amount of money that the US government is able to borrow to pay for all of its obligations"

"when it comes to the United States it's almost like a person having a perfect 800 credit score and getting the best interest rates except here the US has what's called the AAA rating meaning they are the safest country to lend money to"

"the debt ceiling's actually been raised a hundred times since 1917 or basically it has to be increased every single year just to keep up with spending"

"in a prolonged default scenario since six million jobs would be lost driving the unemployment rate up to nine percent the resulting stock market sell-off would raise 15 trillion dollars in household wealth in the short term interest rates would spike and in the long term they would never fall back to pre-default lows"

"the government begins shutting down essential services to conserve its resources and surprisingly it's a lot more common than you would expect like in 2020 it was said that the government based a shutdown 21 times since 1982 and 10 of those times resulted in workers being furloughed"

"the worst government standoff so far in 2011 which resulted in a lower credit rating caused the markets to drop almost 20 percent in total until a resolution was drawn then again from 1995 to 96 the S P 500 dropped about four percent 2013 saw other six percent drop and over the last 10 years we could see that there's typically short-term hesitation in the market until it's eventually raised and then the stock market goes right up alongside with it"

"we have until June to sort things out with the extraordinary measures in place"

"in 2015 the government spent 1.3 million dollars to study how to keep beer cold in hot weather three million dollars also went to studying hamster fighting when given anabolic steroids in 2010 the U.S Census Bureau spent two and a half million dollars for an ineffective Super Bowl commercial or there's a hundred million dollars spent on unused plane tickets and this one is absolutely absurd five hundred thousand dollars was spent maintaining a self-cleaning toilet that hasn't been flushed since 2017."

"the National Science Foundation paid 75 000 for researchers to capture 47 Anole Lizards in the Turks and Caicos and then blast the animals with a leaf blower"

"unfortunately the entire situation has devolved into a political back and forth to various spending agendas and unfortunately they're going to get as close as they can to defaulting without actually defaulting until eventually one side concedes this is brought probably just going to be a continuing pattern over and over and over again until one day it's somebody else's problem"