Federal debt monster lurks for Biden, Yellen & Co

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Going big with coronavirus relief is smart for now, Janet Yellen says. Yet federal debt at 100% of GDP will force the U.S. government into putting some big-ticket items from higher taxes to lower defense spending on the agenda, richardbeales1 explains.

The U.S. Senate on Jan. 19 held a confirmation hearing for Janet Yellen, the former Federal Reserve chair who is President-elect Joe Biden’s nominee to become Treasury secretary.

Joe Biden and Kamala Harris will be inaugurated as U.S. president and vice-president, respectively, on Jan. 20.Federal Reserve Chair Janet Yellen speaks during a news conference after a two day Federal Open Market Committee meeting in Washington, U.S., March 15, 2017.

 

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Reuters richardbeales1 Reverse the GOPTaxScam and cut defense spending in half.

Reuters richardbeales1 A Democrat becomes President and right on cue, suddenly we have to talk about the Debt. Unreal.

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