5 MINUTES AGO, The Biggest Crash Of Our Lifetime Has Begun! | with Clayton Morris

5 MINUTES AGO, The Biggest Crash Of Our Lifetime Has Begun | with Clayton Morris Clayton Morris joins us to discuss the U.S. economy in this breaking news update. Guys So listen, I want you to know this the debt ceiling crisis. So this whole situation is getting more serious now today’s Friday Right before Memorial Day weekend. Happy Friday Treasury Secretary Janet Yellen issued another warning on Wednesday. She said that the federal government is on the verge of running out of money She’s basically saying that the federal government Is not gonna have enough money to pay their bills So Yellen said on Wednesday and I quote it seems almost certain that we will not be able to get past early June I Am NOT trying to scare anyone me personally. I think that we’re gonna be fine She’s the one that’s going fire and brimstone on everybody. So that’s not me. I Don’t know why she’s bringing up all this doom and gloom But let me tell you about the situation and you can make up your own decision So the situation is getting serious from her point of view So this is what Yellen said she said and this is a quote if Congress doesn’t act and raise the debt ceiling There will be some obligations that we will be unable to pay So Fitch Ratings, they’re taking the situation more seriously, too They place the US credit rating on watch for a potential downgrade. So I want to bring up to speed I want to give you the status of the debt ceiling negotiations Yeah, the Republicans and Democrats I mean they have to work out a deal because we have a divided Congress the Republicans control the House of Representatives and the Democrats control the Senate Yesterday, so we’re talking about Thursday an agreement was not reached. So the House of Representatives They went home yesterday. They went home on Thursday for Memorial Day vacation. They evacuated DC. They’re already gone but They said that they’re making progress and they are narrowing their differences, but still no deal Now the leadership teams from both the Republicans and Democrats They’re saying that they are confident that they will come to an agreement this weekend So yes, the politicians they did leave but the negotiating teams. They’re still going at it. I Want to tell you that there will be compromise on both sides So McCarthy who is the Speaker of the House and leader of the Republicans in this negotiations? He said I Don’t think that everybody’s gonna be happy at the end of the day The Republicans want a big reduction in government spending the Democrats they want a debt ceiling increase with no strings attached Now I want you to know this what I’m about to say right here right now This is very important because it’s going to come into play shortly in our discussion So if they do reach a deal over the weekend the House of Representatives, they will most likely vote on it next week on Tuesday so that’s the quickest that this could happen because After they come to an agreement they still have to this they still have to draft it up They have to write it up into legislative text So after that happens in the house the Senate needs to vote it and they need to pass it quickly in order to send it To President Biden They’re saying that the quickest that this whole process can be completed is going to be next weekend So not this weekend, but next weekend So that would be June 3rd or June 4th and that is close to when you know Yellen is saying that the federal government is going to run out of money Now here’s where the Republicans and the Democrats have settled their issues So some of the unspent COVID money will be returned Some of the 80 billion dollars of extra funding for the IRS will be clawed back the details They’re not final but there has been compromise Regarding the energy permits it is expected that this so this situation is going to be easier to resolve Republicans are fighting for more fossil fuel permits Democrats are fighting for more renewable energy permits So there’s going to be a little bit of give-and-take on both sides, but this one it’s not going to be that hard to overcome Now here’s what here’s what the Democrats and Republicans are Really stuck in the negotiations So Republicans want new work requirements for Medicaid recipients Medicaid is a federal health insurance for low-income Americans. Discussed on the show: 20 BIG RETAILERS Closing Down Right Now | Redacted with Clayton Morris Economic Collapse | Redacted with Clayton Morris It’s STARTING! This is how they will track everything you do | Redacted with Clayton Morris It’s over | Redacted with Clayton Morris This channel is intended to share tips and investment videos by experts. We DO NOT GIVE FINANCIAL ADVICE! Please consult a licensed financial advisor and do your own research before making any financial action. #claytonmorris #redacted #redpilledtv @RedactedNews @MorrisInvest @StephenGardner1