Fact: America’s national debt stands at trillion. That’s a tough number to grasp. Most people will never come close to making million in any given yea…
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America’s Debt Crisis Explained
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There is no way out. Reduced spending will just kill the economy.
Printing will kill the currency. Taxation will kill the economy. Only an
economic miracle can save America from coming poverty.
lol this guy explained it terribly. The future generations aren’t paying
our debts. We will when the government defaults. Raising revenue is easier
said than done because to raise revenue you must increase taxes. Our taxes
is already extremely high. I guess this guy wants rising prices and
companies moving to foreign countries. Lowering our spending is impossible.
To lower spending would put us back into recession. The only way to lower
spending is to get rid of our stimulus. The reason we are spending so much
is because the government hires people and gives more welfare so that the
public has money to spend on goods to grow the economy. If we lay off
people and cut welfare then we will create unemployment and spending would
drop and producers would stop producing which would suck us back into
recession. I hate stimulus from the beginning because it doesn’t work.(Not
even mentioning the wreck of a monetary policy the fed has). The point is
that stimulus is useless but the government wont discontinue it because we
will go into recession. The federal reserve announced its taper because it
cant print money forever and it is raising interest rates. We already had a
-2.9% growth in the first quarter. People are drugged on the cheap credit.
If this negative growth continues to the second quarter then we will be in
a recession AGAIN. This will lead to depression due to the fact that the
government will have to default.
this is bullshit. Govt can create money out of thin air. Taxation is used
to regulate the temperature of the economy, it has nothing to do with
federal spending. Right wing Libertarian pseudonomics scare mongering fail
again.
Nice propaganda… Its the third video im looking from Prager University
and they are real bullshit… You guys dont know what ur talking about!!
The solution is to cut spending to pay more interest… Thats really
stupid.. Spending = investment so you get more revenue next year… And
they say that US dept is hold by foreign country! FALSE! US dept is hold by
the FED and made it out of nothing… China and other only invested in our
dept… They bought tresor bond (IOU) thats it… The only solution for
this crisis is the close the FED and make a US dollar that US government
create themself…
So lets stop being the police of the world and cut our defense budget
(which is more than the next 14 top spending nations combined) Stop giving
1/4 of a trillion/year to foreign nations (most of whom hate us anyways)
Stop giving 90 billion/year to corporations in the form of subsidize. And
return to demand side economics that directs investments to remain here in
the US rather than this trickle down nonsense that’s been driving us into
the toilet for the last 30 years. And BAM!! Problem solved.
Oh that’s right, the Cato Institute is a right-wing propaganda machine run
by the same people that made up the Bush administration and rely on this
wasteful spending to keep them and their baron-robber donors rolling in
cash.
I have a question. Firstly I am Australian and not American so I am not
totally familiar with the whole system but what I wanted to ask was….how
do you know its 16 trillion or 17 trillion or whatever number you
say…your 14th amendment (as I just read) states that;
The validity of the public debt of the United States, authorized by law,
including debts incurred for payment of pensions and bounties for services
in suppressing insurrection or rebellion, shall not be questioned
shall not be questioned?….so how do you know how much it is?
Sorry Sir, I dont understand this. If you know China is going to hv the
option to use the national debt against US, why in the first place u allow
China to buy US debt?
2ndly, what should we do if we still stuck in this debt hole? Yea, i know
people does affect the Gov. If we the people save a lot, then the gov will
hv lots of money. But we do not decide what to do with the action by the
gov. In the end, the decision is will control by the Gov on how to preserve
the national finance! Not the people.
This country is going to collapse within the next 50-100 years, most kids
of this generation are more worried about reality stars & materials than
how our country is doing. I’m moving to Canada.
The youth voted for Obama the biggest spender of all time, they deserve
what’s coming to them
Its annoying that he only explains who 8% of the debt is owed to. Correct
me if i’m wrong but isn’t the federal reserve able to create money and then
loan it to the government? Although this couldn’t increase the actual
wealth of the nation…
The difference between EU nations vs USA is that USA can print its own
money, while individual countries in the EU do not control printing press.
still a big problem, but the scenario will likely play out differently than
in greece or other EU member nations.
This is depressing.
But, good points.
haspanic/latino population in 2040 will make up 60% of the u.s population
and they are the ultimate receiving end of this debt crisis.
the UNITED STATES OF LATIN AMERICA is the future! i am studying spanish for
this new future
Thanks, past generations. I appreciate it.
Fun Fact: America can create a 17 trillion dollar bill and pay off their
debts in a totally legal way
Wasting money on military… No more interrupting in other countries.
I can’t believe they made a video on the cutting the debt with out
explaining specifically what should be cut! You know this guy has voted for
increased spending more then once in his life. He just values different
kinds of spending.
The money you’ve borrowed from China all went into building the US
military, and strategic technologies that would be worth much more. In
fact, it is the Chinese who are more worried about this debt. All the US
needs to do when the debt is unpayable is to instigate a war with China and
win the war.