So what is going on with the talk about this US debt ceiling and this deadline that is set for June 1st and how is it that people like you and me can have a better understanding of what is going on? What's going on Guys, It's Ricky here with Technical Solutions and that's exactly what I'm going to be answering for you in today's video and if you learned something new in a more simple way I Hope that I earned your thumbs up and please consider subscribing. So first things first. One thing that I want to show you very quickly is the current real-time US Debt. This is from Usdeckclock.org 31.7 trillion dollars.

Now what exactly does this mean to people like you And I How did the US incur this debt? Well, Spending right? Obviously, the US spends more money than it makes right with their Social Security checks if it's through War spending, right? Whatever spending it is that they have. Um, they need to pay for it and they can only borrow a certain amount of money. Now, obviously they're running out of money. That's why they're saying to raise the U.S debt selling Meaning that they need to increase the amount of money that they can borrow so they can borrow more money so they can pay off their debt.

Now, how does this happen? Who approves and or who raises their debt ceiling? It's Congress So it's a very simple process in the sense that they just have to pass legislation to both agree right? both house. Uh, I'm sorry. both Republicans and Democrats have to both agree that yes, we'll agree to raise the U.S debt ceiling and we can resume to business as usual. But guess what? Just like every other issue in the US, it's not necessarily a debt issue.

it's a political issue and it's always people like you and I right? Regardless of what political party what Walk of Life you are, we can all agree on one thing and it's always people like you and I that end up paying the price for their lack of actions. right? With that being said, what's going on? Why has the U.S debt selling not been raised? So the Republicans see this as an opportunity to be able to request specific demands, right? Okay, you know one side, the Democrats are like hey, we need to raise this debt ceiling Republicans are like I agree with you. let's let's raise this debt sign. But I want you to meet this List of Demands and then we'll raise it right because both parties have to agree.

So the Republicans see this as an opportunity to request specific demands and if those demands are not met according to the Republican party, they will not actually raise the debts Lane But President Biden said no way, Not this time we are not meeting any demands. You must raise the debt. So in now well again President Biden and Congress have a meeting next week. It got rescheduled it was supposed to be last week.

We'll see how that one goes. Hopefully Again By the end of June 1st which is the U.S debt ceiling deadline, everything is met. Now what happens if it's not met right? I Do want to share with you one thing I'm not here to scare you guys more than what it is right. Both sides have said both Republicans and Democrats said the U.S cannot default right.

The reason that the U.S cannot default is by cannot I mean should not right. By the U.S defaulting, it means that they will default on the debt that they owe and therefore their treasury Bond, one of the most valuable and safest forms of investments will not be as trusted and that will be an absolute catastrophe for everyone. Interest rates will rise, markets will fall, not only will the Democrats and whatever it is that they wanted will suffer, but so we're Republicans because Republicans are very famous for having Investments and being long-term investors right and all of them. they will end up losing more money than you know making if they end up not raising the debt sign.

So the way that I view this in the most simple way is that this is a measuring contest. Republicans Want specific demands Democrats don't want to agree to meet them President Biden Obviously being a Democrat to say no way, not this time, just raise the debt ceiling we have until June 1st. So when asking the question, what is going on in this most simple way that I can answer it for you is they're trying to see who's got the bigger one right? And it is very unfortunate because it puts us people like you and I in a very unfortunate scenario, right? Yes, I Get it? Republicans Want to leverage this for specific demand? They see that as an opportunity Democrats don't want to deal with it. What happens? Well again, we use the U.S debt to pay off Social Security So that means people that rely on Social Security will not get their money.

But Ultimately, if we end up defaulting, then that means all forms of investments will actually end up paying a much higher price right will end up taking a much larger hit. And that's the unfortunate part about it. It's just understand the deadline. Understand that To me it's just the measuring contest and it's very unfortunate that people like you and I are always the ones that end up having to pay for their lack of actions.

but it is what it is I Just wanted to explain this in a more simple and I would say entertaining way. You guys can let me know in the comment section how you think I did I Wanted to share this with you also very quickly. For those that are part of my Trading Group remember I do trade live every single morning with our Lpp team. Uh, One thing that I want to remind you is that Uh, we are running a giveaway that we just started yesterday and that means that this is for the GTR giveaway.

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