Billion a year. That means about raising the debt limit, we wont be able to pay bills worth about 700 billion. That means Social Security recipients, defense contractors, that means bondholders, a lot of different people. It will affect everybody there very significantly if we dont raise the debt limit. Host what would it mean for the u. S. Federal government, our Credit Rating if that doesnt happen . Guest not speaking for the Rating Agency, but i suspect it would mean a lower rating. You can remember back in 2011, we had another scare with regard to the debt limit. We ultimately raise the debt limit before we breached it, but Standard Poors downgraded the u. S. Debt at that point in time because of the dysfunction over the debt limit signaled. Its very likely will see other downgrades if we breached it. Host why do we continue to keep having this debate . Are we not raising it far enough . Guest actually it has been suspended. Its not a matter of raising the debt limit enough. Its a
We run a deficit about 700 billion a year. That means about raising the debt limit, we wont be able to pay bills worth about 700 billion. That means Social Security recipients, defense contractors, that means bondholders, a lot of different people. It will affect everybody there is significantly if we dont raise the debt limit. Host what would it mean for the u. S. Federal government, our Credit Rating if that doesnt happen . Not speaking for the Rating Agency, but i suspect it would mean a lower rating. 2011,n remember back in we had another scare with regard to the debt limit. We ultimately raise the debt limit before we breached it, but Standard Poors downgraded the u. S. Debt at that point in time because of the dysfunction over the debt limit signaled. Its very likely will see other downgrades of we breached it. Host why do we continue to keep having this debate . Are we not raising it far enough . Actually it has been suspended. Its not a matter of raising the debt limit enough.
We run a deficit about 700 billion a year. That means about raising the debt limit, we wont be able to pay bills worth about 700 billion. That means Social Security recipients, defense contractors, that means bondholders, a lot of different people. It will affect everybody there is significantly if we dont raise the debt limit. Host what would it mean for the u. S. Federal government, our Credit Rating if that doesnt happen . Not speaking for the Rating Agency, but i suspect it would mean a lower rating. 2011,n remember back in we had another scare with regard to the debt limit. We ultimately raise the debt limit before we breached it, but Standard Poors downgraded the u. S. Debt at that point in time because of the dysfunction over the debt limit signaled. Its very likely will see other downgrades of we breached it. Host why do we continue to keep having this debate . Are we not raising it far enough . Actually it has been suspended. Its not a matter of raising the debt limit enough.
President trumps address to congress hoping to get more details about tax reform y. Hope you saw senator oren hatch talking earlier today. He said tax reform could be difficult to get done. As far as changing the Current System that is very difficult because democrats are not cooperating. It seems when you get a brand new president you ought to be at least seeing what can be done. They are not only not supporting him but fighting him with everything they got. Many major averages took a small leg down on the comments but not by much. We will see what happens here. You can see shares of the major brokerages both cutting online commissions. We have a fee fight today. All stocks are getting hit hard on the news. You can see Td Ameritrade down more than 9 . We are going to get you details. Panel of Retail Investors to respond to all of this. Im sure are loving these lower fees that they pay for trading. Target ceo speaking exclusively to our courtney reagan. We will delve into those comment
All three hours of our program today will be devoted to getting your reaction to the speech, including democratic reaction to it. Democrats, 2027488000. Republicans, 2027488001. Independents, 2027488002. You can post your thoughts on and also on morning our Facebook Page as well. Here are the headlines. Reaction to last nights speech. Statesman this is the Chicago Tribune who chooses the same headline. The Columbus Dispatch with the headline lets get the job done is how the Detroit Free Press uses their headline this morning. The new york daily news, dawn hits reset, takes brighter tone before congress. Reset. Hits democrats, 2027488000. Republicans, 2027488001. Ndependents 2027488002 plenty of reaction overnight to the president s speech. First come of the numbers courtesy of politico. There were 84 applause lines. Five mentions of obamacare, one mention of the wall along the u. S. Mexico border, one mention of the media, one mention of radical islamic terrorism and zero mentions of H