Comments by "Jay M" (@jaym9846) on "Biden to Republicans: Abandon Extreme Positions, Prevent US Default | VOANews" video.

  1. Current US debt is $38,000,000,000,000 ($7 trillion to foreign countries including China). When US raises the debt limit, it can borrow more. To lenders, US pays interest (currently 4.3% for 1 yr bonds). As Ray Dalio explains, the problem is, year-after-year, we spend more than we earn.
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