{"id":1801232,"date":"2023-01-10T12:51:22","date_gmt":"2023-01-10T17:51:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1801232"},"modified":"2023-01-10T12:52:00","modified_gmt":"2023-01-10T17:52:00","slug":"were-going-to-have-to-fix-this-jpmorgan-chase-ceo-sounds-the-alarm-over-soaring-national-debt","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/were-going-to-have-to-fix-this-jpmorgan-chase-ceo-sounds-the-alarm-over-soaring-national-debt\/","title":{"rendered":"\u2018We\u2019re Going To Have To Fix This\u2019: JPMorgan Chase CEO Sounds The Alarm Over Soaring National Debt"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwere-going-to-have-to-fix-this-jpmorgan-chase-ceo-sounds-the-alarm-over-soaring-national-debt%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1801232&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p><a href=\"https:\/\/www.dailywire.com\/topic\/jp-morgan\" target=\"_blank\" rel=\"noopener\">JPMorgan Chase<\/a> CEO <a href=\"https:\/\/www.dailywire.com\/topic\/jamie-dimon\" target=\"_blank\" rel=\"noopener\">Jamie Dimon<\/a> Please be aware of the following: <a href=\"https:\/\/www.dailywire.com\/topic\/national-debt\" target=\"_blank\" rel=\"noopener\">national debt<\/a>, expressing concern that the federal government\u2019s obligations will eventually create a financial meltdown even as markets exhibit apathy toward the problem in the near term.<\/p>\n<p>Dimon is widely considered to be one of Wall Street&#8217;s most influential executives. <a href=\"https:\/\/www.foxbusiness.com\/economy\/jamie-dimon-sounds-alarm-rising-us-debt-potentially-disastrous-outcomes\" target=\"_blank\" rel=\"noopener\">Interview<\/a> Maria Bartiromo (Fox Business host) said that pension plans were being discussed by Maria Bartiromo. \u201chave to sell\u201d After the Treasury Department&#8217;s failure to issue securities to finance deficit spending.<\/p>\n<p>\u201cIt is so potentially dangerous we shouldn\u2019t get anywhere near it,\u201d He said. \u201cAnd after all the shenanigans of politics, we\u2019re going to have to fix this. I think it\u2019s very bad for the nation to constantly be looking at this type of thing.\u201d<\/p>\n<p>Even though the national debt is close to $31.5 trillion, <a href=\"https:\/\/www.dailywire.com\/news\/interest-payments-on-the-national-debt-on-pace-to-surpass-military-spending\" target=\"_blank\" rel=\"noopener\">Maintenance costs<\/a> Due to the current rise of interest rates, prices will soar. An <a href=\"https:\/\/www.dailywire.com\/news\/government-must-raise-taxes-40-or-cut-spending-30-to-achieve-fiscal-balance-study\" target=\"_blank\" rel=\"noopener\">Analyse<\/a> from economists at the University of Pennsylvania\u2019s Wharton School recently found that a 30% decrease in spending or a 40% increase in taxation would be necessary to handle current deficit spending and future obligations. Both Democratic and Republican administrations have been responsible for this. <a href=\"https:\/\/www.dailywire.com\/news\/the-american-people-want-a-real-change-steve-forbes-rebukes-both-parties-for-sinful-government-spending-habits\" target=\"_blank\" rel=\"noopener\">Surges<\/a> accumulated debt in the last several decades.<\/p>\n<p>Recently, Republican lawmakers <a href=\"https:\/\/www.dailywire.com\/news\/here-are-the-concessions-house-speaker-kevin-mccarthy-gave-to-republican-holdouts-to-win-their-support\" target=\"_blank\" rel=\"noopener\">struck a deal<\/a> with House Speaker Kevin McCarthy (R-CA) under which the party\u2019s new majority will introduce a budget that refrains from increasing the debt ceiling, an artificial limit on federal obligations imposed by Congress. Dimon said that he understands the lawmakers\u2019 desire to end the provision but said that officials have no choice besides deficit spending as expenses for social programs balloon over the next decade. According to the latest federal budget figures, Social Security, Medicare and other health programs made up 46% of the federal budget in the most recent fiscal year. <a href=\"https:\/\/fiscaldata.treasury.gov\/americas-finance-guide\/federal-spending\/\" target=\"_blank\" rel=\"noopener\">Data<\/a> From the Treasury Department.<\/p>\n<p>Bartiromo, Dimon and others also spoke about the general level and severity of debt among consumers and businesses. The total level of consumer loans increased from $1.5 trillion at the beginning of President Joe Biden\u2019s tenure to $1.8 trillion as of two months ago, according to <a href=\"https:\/\/fred.stlouisfed.org\/series\/CONSUMER\" target=\"_blank\" rel=\"noopener\">Data<\/a> Federal Reserve. According to the Federal Reserve, the personal savings rate dropped from 20% to below 3% during that same time. <a href=\"https:\/\/fred.stlouisfed.org\/series\/PSAVERT\" target=\"_blank\" rel=\"noopener\">Data<\/a> The Bureau of Economic Analysis reported a marked decline in rates compared to the period before the lockdown-induced depression.<\/p>\n<p>Dimon stated that \u201cstrong\u201d After a year of weak growth, the economy could see 3% growth if the new Congress combines consumer sentiment with rational policies. Dimon also called for reforms in the regulatory system, which is currently slow. \u201cthe formation of business,\u201d Assistance for domestic energy firms looking to construct new pipelines. \u201cstop illegal immigration.\u201d<\/p>\n<p>Economists are divided on whether the United States is likely to experience a recession within the next months. Michael Hartnett, Chief Investment Strategist at Bank of America, stated in a <a href=\"https:\/\/business.bofa.com\/en-us\/content\/year-ahead-2023\/investment-market-outlook-forecasts.html\" target=\"_blank\" rel=\"noopener\">Report<\/a> Before markets achieve a recovery, a recession is likely to strike in the first quarter of the year. \u201cmuch more solid footing,\u201d While an <a href=\"https:\/\/www.dailywire.com\/news\/economists-predict-whether-2023-will-see-a-recession\" target=\"_blank\" rel=\"noopener\">Outlook<\/a> Jan Hatzius, Goldman Sachs Chief Economics Officer, stated that analysts at Goldman Sachs believe the economy would continue to grow. \u201cstick a soft landing.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan Chase CEO Jamie Dimon warned about the national debt, expressing concern that the federal government\u2019s obligations will eventually create a financial meltdown even as markets exhibit apathy toward the problem in the near term. Dimon, widely regarded as one of the most influential executives on Wall Street, remarked during an interview with Fox Business &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1801235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[6352,3850,8528,6202,5487,12519,4107,8957,6351,3686,4419,6195],"class_list":["post-1801232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-alarm","tag-ceo","tag-chase","tag-daily","tag-debt","tag-jpmorgan","tag-national","tag-soaring","tag-sounds","tag-this","tag-were","tag-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1801232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1801232"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1801232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1801235"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1801232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1801232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1801232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}