Federal Reserve Chair says raise taxes and cut retirement

[eastcoast_bsc]

The United States is taking on too much debt right now, a problem that is will only worsen moving forward, former Federal Reserve Chair Janet Yellen said Tuesday.

"If I had a magic wand, I would raise taxes and cut retirement spending," Yellen told CNBC's Steve Liesman at the Charles Schwab Impact conference in Washington, D.C., who characterized the U.S. debt path as "unsustainable."

Yellen says rising deficit is unsustainable: 'If I had a magic wand, I would raise taxes'



Meanwhile I did a search on her net worth and she is worth 13.2 million.

I am glad that President Trump has given her the boot. Typical Democrat liberal hypocrite .

 

[mukk_in]

Indeed.

 

[paul1149]

The economy has already done a massive turnaround under Trump's leadership. I'm no fan of debt at all, but what most of these analyses fail to factor in, afaics, is what effect his restructuring of our trade agreements will have going forward. And stopping the perennial bleeding of trade imbalance, while bringing jobs back to the US, will have a massive effect indeed. I'm also not sure if Yellen is taking into account the stimulative effect of the tax cuts. And Trump has promised more middle class tax cuts are on the way.

 

[Hank77]

Yellen says rising deficit is unsustainable: 'If I had a magic wand, I would raise taxes'



Meanwhile I did a search on her net worth and she is worth 13.2 million.

I am glad that President Trump has given her the boot. Typical Democrat liberal hypocrite .

How would raising taxes help her? And cutting retirement spending has never been a part of the Dem's platform, that's a Republican thing.

Big debt has always been the Dems, now the Reps think it is OK? I'm a fiscal conservative, debt is not OK.

 

[Richard T]

By keeping interest rates extremely low for so long, Yellen herself, contributed to the debt by enabling Congress to spend more and more. With that said, even Trump is expanding the growth of government. No one seems to want to cut spending. Debts will likely continue until the whole financial system collapses. Japan, I believe should be first among the major economies as they have the greatest dept per GDP ratio.

 

[eastcoast_bsc]

How would raising taxes help her? And cutting retirement spending has never been a part of the Dem's platform, that's a Republican thing.

Big debt has always been the Dems, now the Reps think it is OK? I'm a fiscal conservative, debt is not OK.

I didn't say I agree with her but in her mind raising taxes brings in more revenue for the feds and cutting the poor senior citizens will save .