Following reports that the US gross national debt surpassed $33 trillion for the first time in history, Treasury Secretary Janet Yellen said the debt is not her priority, but “climate change” and its “adverse effects on developing countries” is.
Speaking with CNBC on Monday, host Sara Eisen asked Yellen, “I want to ask you about your trip this week and your top priorities and messages for world leaders at a time where, if you look at the global economy, you mentioned China’s weaker than expected. Europe is also showing some more weakness, Germany going negative in growth, what are you saying to them?”
“Well, we are focused this week on measures to address issues in the global economy and to achieve stronger and sustainable growth,” Yellen replied.
“Russia’s continuing brutal war in Ukraine is having a very adverse impact, and we’re spending time this week discussing food prices and what we can do to alleviate hunger and shortages of food, especially since the Black Sea Green Initiative, Russia has ended that,” Yellen added.
“We’re focused on climate change and the adverse impact that’s having on developing countries, on emerging markets. It interacts with scarcity of food,” she said.
“And we’re focused on greatly expanding the amount of aid and private investment that we can channel into emerging markets in developing countries around the world,” she continued.
“We have an initiative to enable the World Bank and the other multilateral development banks to greatly expand their provision of resources and to mobilize private capital for climate change.”
Yellen added that they are focused on other issues, including the prevention of “future pandemics,” but failed mention the National debt.
“We’re focused on health, preventing future pandemics, and mobilizing funds, both public and private, through the president’s partnership for global investment with the G7 to boost infrastructure development in a meaningful way, infrastructure investment around the world,” Yellen said.
“So these are some of the main focuses this week. It’s a heavy around the world. So, these are some of the main focuses this week. It’s a heavy agenda, it is.”
Meanwhile, living costs are hitting the average American harder than ever.
According to the most recent Harvard/CAPS Harris survey, just 0 percent of respondents believed the US economy is on the “right track,” while 61 percent said the economy was trending upwards.
Government spending is out of control!
As The Daily Fetched reported on Tuesday, data published by the Treasury Department, the national debt hit $33.04 trillion, just months after reaching $32 trillion in mid-June.
President of the Committee for a Responsible Federal Budget, Maya MacGuineas, said the numbers reached “a new milestone that no one will be proud of.”
“Debt held by the public, meanwhile, recently surpassed $26 trillion,” MacGuineas said.
“We are becoming numb to these huge numbers, but it doesn’t make them any less dangerous.”