could feel very, very quickly if they don t raise the debt ceiling. are members of the military will have to take an iou for their pay social security recipients. you will get an iou for your they re going to send you a little note in the mail. or maybe even just an email that says, listen, we don t have the money to pay you. we can t borrow any more money because we hit that $31.6 trillion mark already this year, and so we would have to ask american citizens to take an iou from the u. s government, the largest economy in the world. it s just embarrassing and avoidable. a lot of stuff would happen all of it bad. correct very bad to remind people this debt ceiling has been around for a while, and it has been raised before. how did they get through those past moments? sometimes they go to the spring manship and there s some horse trading, but they re really three ways to resolve this for finally, for good one. you just raise the debt ceiling clean as they say, that s what the vitamin ast
you get rid of the thing. and that s what a lot of economists think. you know the spending restraint and the tax restraint happens in the budget process. it happens in the appropriation press. it shouldn t happen after you ve already spent the money. congress already spent all this money and now saying what we want to do over, we want to spend it differently in the future. that s a failure on congress and the people who pay the price if they don t figure it out soon would be the american people. i mean, i can t imagine giving an iou to somebody who s serving actively the united states military. it s just it s abominable. what most people most economists and business leaders will tell you is congress. you are not helping here. christine romans. thank you very much, kate. defense ministry is saying about reports about its military readiness and it is speaking out also about its ability to respond to air threats from the chinese military. we have more on that coming up, and there were som
correctly? all 30 for charges? charges?at. i am correct on that. right. okay, so when i have this otay, so when i have this in 2017.heth right. yeah. in otheryments the words, the ps they re alleging took place in 2017. now this is michael cohen s lawyer s letter to the fec he ser s letter to the fec and he s saying in february ofan 2018 that none of these things happened. so their star witness nohappenee going to defend his own lawyer s words? did his lawyer lie? did michael cohen lie? i know he s an admitted serial liar. i know he s a convict.liar but to those states , match up to you. is there an issue there inch u? they rre an issue there inch u? terms they re saying the money was paid in twenty , seventeen and michael cohen s attorneys say i m right here, that nothing at allrneyg righ happend by twenty eighteen? can you help me with that? t? no, iou help me with that? t? nor can what i can help you with is none of it all matters. yes. michael cohen is constitutionally incapa
pumps, and shopping baskets, cheese, milk, sugar, all much more expensive compared to last year. so far this has been driven by globalfactors, after covid, supply chain issues, the war in ukraine. andrew bailey is worried about domestic inflation, if businesses put up prices to cover costs, it could stay high for much longer. costs, it could stay high for much loner. , ., , costs, it could stay high for much loner. , . , ., ., longer. interest rates will have to no longer. interest rates will have to i o u . longer. interest rates will have to go uo further longer. interest rates will have to go up further and longer. interest rates will have to go up further and higher- longer. interest rates will have to go up further and higher inflation | go up further and higher inflation really go up further and higher inflation really benefits nobody, it hurts people really benefits nobody, it hurts people and particularly the least well off people and particularly the least well off in
guarantee customer savings. earlier i spoke to ben king, who said even though bank shares were trading a little lower, the markets in europe were relatively calm. the little lower, the markets in europe were relatively calm. were relatively calm. the sight of eole were relatively calm. the sight of people queueing were relatively calm. the sight of people queueing outside - were relatively calm. the sight of people queueing outside banks . were relatively calm. the sight of people queueing outside banks is were relatively calm. the sight of. people queueing outside banks is a very worrying thing for say. a number of smaller, regional banks that people see might be vulnerable to some of the same issues as silicon valley bank saw very sharp falls in shares overnight. moody s, the credit ratings agency, downgraded five of the banks, warning that it seems that they could also be subject to similar risks. could also be sub ect to similar risks. , , , ., ., risks. just explain what we th